Clearwire secures additional USD920 million for network rollout

27 Nov 2009

Clearwire has revealed in a statement that it has secured a further USD920 million in debt financing, bringing the total raised in recent weeks to USD2.8 billion in debt and equity, and above the original fundraising goal of the USD2 billion to USD2.3 billion needed to deploy its WiMAX network. ‘With this latest tranche of additional funding, we have not only exceeded the amount of capital that we have previously stated we needed to fully fund our business plan, but we have also secured additional capital that will allow us to expand more aggressively by covering more people, and with more capacity than we had previously planned,’ said Bill Morrow, CEO of Clearwire, in a statement. The company wants to cover approximately 120 million people with mobile WiMAX by the end of next year.

United States, Clearwire