The offering is expected to close on Dec. 13, 2011.
Separately, Sprint Corp. (NYSE: S) will buy about 172 million shares of Clearwire's Class B shares in a private transaction. Last week, Sprint threw the company a lifeline by stumping up to $1.6 billion in financing for LTE and more.
Why this matters Every penny counts for Clearwire as it prepares to deploy LTE. Citing a quiet period, the company hasn't yet revealed much about how many cities it plans to deploy the new technology in or whether it will need more funding for LTE over time.
For more Read up on Clearwire's recent funding flurry:
- Clearwire's LTE Clues
- Clearwire to Raise $300M
- Sprint Keeps Clearwire (& Unlimited) Alive
- Clearwire: Playing Chicken?
— Dan Jones, Site Editor, Light Reading Mobile