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Clearwire Raises More Debt Than Anticipated; Adds $2 Billion To Its Coffers

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Clearwire (NSDQ: CLWR) was able to raise more debt than originally anticipated, which has bumped up its recent fundraising efforts to a little more than $2 billion, according to a document filed today with the SEC.

SEE ALSO: Clearwire Affirms Growth Targets In Wake Of Securing More Financing

It gets a bit confusing, but here’s how its fundraising efforts break down: In the recent debt offering, Clearwire was able to secure $1.6 billion, or $200 million more than anticipated. That debt will go towards paying off existing debt of $1.4 billion. That extra funding plus other notes from Sprint (NYSE: S) and Comcast (NSDQ: CMCSA), brings the net to $447 million, and this is all in addition to the $1.6 billion raised in equity from investors. In all, Clearwire now has raised more than $2 billion in new funding that will go towards building out its nationwide network.

However, the funding doesn’t stop there. Clearwire still expects to secure up to $295 million in the common stock from existing shareholders, and will have some additional wiggle room in raising capital going forward as a result of the debt restructuring.

Nov 19, 2009 2:47 PM ET

Clearwire's Clear 4G service Photo: Clearwire


Posted In: Money, Technologies / Formats, 4G, Broadband, WiMax, Companies, Clearwire

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