Clearwire Takes Additional $80M in Cash from Sprint

Posted by at 10:42 am on March 28, 2013

Clear LogoClearwire today said that it will, for a second time, draw $80 million in financing made available by Sprint. The $80 million option was put in place as part of Sprint’s plan to acquire the portion of Clearwire that it doesn’t already own. Clearwire, which is transitioning from WiMax to LTE, needs the financing to continue operations.

Clearwire can tap into an $80 million round once per month between now and October. Sprint is facing shareholder opposition in its attempt to purchase Clearwire, which it needs to complete in order to facilitate its own equity sale to Japan’s Softbank.

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