Mobile

Clearwire to Take $80 Million Funding Draw From Sprint

Published on April 29, 2013
by Thomas Gryta

Clearwire Corp. will again tap financing from Sprint Nextel Corp. under their buyout deal, taking a $80 million draw for May that will be the last available before Clearwire shareholders vote on the deal.

In December, Sprint offered to buy the rest of Clearwire in a $2.2 billion deal, and provided the wireless broadband operator up to $800 million in financing that it could draw on in installments of $80 million over 10 months. The company didn’t take that funding in January or February, as it was considering an offer from satellite TV company Dish Network Corp., DISH +2.03% but took the cash in March and April.

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