Saturday, March 30, 2013

Clearwire Takes $80M in Sprint Financing, Continues Discussions with DISH

Clearwire elected to take an $80 million April draw under the terms of its agreements with Sprint.  The funding is in the form of exchangeable notes, which will be exchangeable under certain conditions for Clearwire common stock at $1.50 per share.

Clearwire also stated that it continues discussions with DISH over its proposal and that it intends to pursue the course of action that it believes is in the best interests of Clearwire's non-Sprint Class A stockholders.