Clearwire Gets Its $300 Million in Financing (CLWR)

Clearwire Corporation (NASDAQ: CLWR) has closed upon the sale of that expensive financing we previously discussed.  AN SEC filing showed that the company Clearwire Communications LLC subsidiary sold some $300 million of 14.75% first-priority senior secured notes due in 2016 at a price of Par (100%).

The company said that it intends to use the net proceeds of the offering “for the deployment of mobile 4G LTE technology alongside the mobile 4G WiMAX technology currently on its network and for the operation and maintenance of its networks and for general corporate purposes.”

Further notes as follows on the private placement:

“The Notes were issued in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), to qualified institutional buyers in accordance with Rule 144A and to persons outside the U.S. pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state or other securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.”