Mobile broadband carrier Clearwire (NASDAQ:CLWR) said late yesterday it plans to sell $300 million in class A common stock in a public offering.
Underwriters may purchase up to an additional $45 million in shares.
Clearwire said it will use the net proceeds for general corporate purposes and working capital purposes.
Sprint Nextel (NYSE:S) has agreed to exercise its pro rata preemptive right to the offering such that it will purchase, in a separate, private transaction, only shares of class B common stock.
Clearwire share are trading sharply lower Tuesday.
Also late yesterday, Leap Wireless (NASDAQ:LEAP) said it has agreed to acquire wireless spectrum from Verizon Wireless in Chicago, and to sell Verizon Wireless spectrum in other markets in the U.S.
Leap will pay $204 million for 12 MHz of 700 MHz A block spectrum in Chicago, and it will sell Verizon Wireless excess PCS and AWS spectrum in various U.S. markets.
The transactions will be subject to regulatory approval.
Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NASDAQ:VOD).
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