Clearwire Raises $1.56 Billion From Investors

Posted on November 10, 2009 staff

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Clearwire, the 4G Wi-Max Network now in development announced today that it has raised an additional $1.56 billion from its key investors Sprint, Comcast, Time Warner Cable, Intel, Eagle River Holdings and Bright House Networks.

They are purchasing new Clearwire shares priced at $7.33 each in the following amounts:

Sprint $1.176 billion.
Comcast $196 million.
Time Warner Cable $103 million.
Intel $50 million.
Eagle River $20 million.
And Bright House $19 million.

Notably absent from this list is Google, an original Clearwire investor, which is not part of this latest round.

About Clearwire

Clearwire Communications, LLC, an operating subsidiary of Clearwire Corporation (NASDAQ: CLWR – News), offers a robust suite of advanced high-speed Internet services to consumers and businesses. As part of a multi-year network build-out plan, Clearwire’s 4G service, called CLEAR™, will be available in major metropolitan areas across the U.S., and bring together an unprecedented combination of speed and mobility. Clearwire’s open all-IP network, combined with significant spectrum holdings, provides unmatched network capacity to deliver next generation broadband access. Strategic investors in Clearwire include Intel Capital, Comcast, Sprint Nextel, Google, Time Warner Cable, and Bright House Networks. Clearwire currently provides 4G service, utilizing WiMAX technology, in 24 markets and provides pre-WiMAX communications services in 37 markets across the U.S. and Europe. The company also serves as the wholesale 4G network supplier for the next-generation wireless data products offered by several strategic investors, including Sprint, Comcast, Time Warner Cable and Bright House Networks. Headquartered in Kirkland, Wash., additional information about Clearwire is available at www.clearwire.com.