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Clearwire to take USD 80 mln draw under Sprint Nextel deal

2013-02-27 22:27:00| Telecompaper Headlines

(Telecompaper) Clearwire has announced it has elected to take the USD 80 million March draw under the terms of its agreements with Sprint Nextel to provide additional financing to Clearwire in the form of notes be exchangeable for Clearwire common stock at USD 1.50 per share. The Special Committee has not decided whether to take any future draws under the Sprint Financing Agreements. The committee has engaged in discussions with Dish concerning its takeover proposal and with Sprint over the course of the last two months, and intends to continue such discussions. Clearwire does not expect to enter into an accelerated build-out agreement with Sprint at this time.

Tags: deal usd draw sprint

Category:Telecommunications

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