Craig McCaw’s Clearwire (CLWR-NASDAQ) is set to bring its WiMAX (wireless broadband) out in what will be a hot IPO. Any trader knows that if the market continues as a crummy market thatIPO’s are generally about as fun to trade as fun is to insuranceseminars. So if we keep sliding or if things get really bad then youcan probably expect a delay or at least a softer pricing than we wouldhave otherwise expected. If it isn’t hot, it’s the market at fault rather than the fault of McCaw or Clearwire. The range is set at $23 to $25 for 20 million shares plus the 3 million in the overallotment. In a static and market-neutral environment you could just plan for this to be above the higher end of the range and maybe even more shares, and this is the one garnering the most attention for most IPO’s on the horizon. Keep in mind that they have already forecast the need to borrow more funds and that they will need to sell stock in the future, but that should be know now. Here is the backgrounder for the deal, and here is the more in depth filing from January 30.
Clearwire Set For IPO Next Week (CLRW)
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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