Clearwire has set the terms for its proposed IPO of 20 million shares at a price range of $23.00 to $25.00 per share, plus an additional 3 million for overallotments. The final underwriting group has been deemed as Merrill Lynch as the lead with co-lead underwriters Morgan Stanley and J.P.Morgan. Others in the syndicate are Wachovia, Bear Stearns, Citigroup, Jefferies, Raymond James, ThinkEquity, and Stifel Nicolaus.
This one is split because the product has developed a core and there is strong demand for the IPO, but the one issue that may act as a quasi-cap is the ongoing need for more capital. It will have to raise more and more cash to fund ongoing expansion plans, so just know going in that the Clearwire will be selling more shares and debt in the relatively near-future. This one is supposed to be well received though and may still command a premium because of the McCaw founder and the hot technology and backers.
Here is the last report we gave on it from January 30, and there is the prior filing on it at the end.
Jon C. Ogg
February 14, 2007
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.