Clearwire re-files $400 mln IPO after beefing up revenue

Tue, 12/19/2006 - 7:24am

Copyright 2006 Inc.
All Rights Reserved
December 19, 2006 Tuesday 9:10 AM EST
By Steve Gelsi
From Lexis Nexis

NEW YORK (MarketWatch) -- Clearwire Corp. on Tuesday filed plans to raise up to $400 million in an initial public offering with underwriters Merrill Lynch, Morgan Stanley and J.P. Morgan.

The Kirkland, Wash. builder of wireless networks for broadband services plans to trade on the Nasdaq under the symbol "CLWR." For the nine months ended Sept. 30, the company reported a loss of $192 million on revenue of $76 million, compared to a loss of $90 million on revenue of $15 million in the year-ago period.

The company filed its IPO in May but withdrew the deal in July. Wireless pioneer Craig McCaw owns 83% of the company.


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