Comcast ups investment in Clearwire again
It looks like Clearwire is getting a little more cash than it originally planned. In a document filed yesterday with the Securities and Exchange Commission, Clearwire reported it was able to raise just over $2 billion in funding from its investors.
The company secured $1.6 billion in funding, up from the $1.45 offering proposed on Nov. 10. That cash will go toward paying off $1.4 billion in debt, netting the company an extra $200 million in cash.
Sprint and Comcast kicked in an extra $247 million in capital on top of the $1.56 billion from existing investors and Eagle River Holdings.
Together with the $200 million left over from the higher-than-anticipated offering, Clearwire managed to raise $2.01 billion in new funding.