According to anonymous sources, Clearwire Corp is planning to notify Sprint Nextel Corp that it will be utilizing another US$80 million in financing as part of its deal agreed upon with Sprint.
Sprint had offered US$2.97per share to purchase the rest of Clearwire shares outstanding and also offered Clearwire up to US$800 million in financing available at US$80 million per month for ten months. Sprint already owns 51% of Clearwire and it will only purchase shares Clearwire does not own.
Clearwire did not utilize financing in the first two months of 2012, as it was reviewing a counter offer from Dish Network Corp, the satellite TV provider. In March though, Clearwire utilized the funding offer even while it was still in discussion with Dish.
The finances taken would be convertible to Clearwire shares in case shareholders decline the Sprint offer. As for Dish, it is unclear if the offer at US$3.30 per share is still under consideration.
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