Clearwire (Re-)Files for IPO
The Seattle Times' Tricia Duryee reports today that Clearwire has once again filed plans to raise $400 million in an IPO — this after announcing and then canceling similar plans earlier this year.
"This time, the Kirkland company has a lot more cash in the bank and thousands more subscribers and is operating in more markets," Duryee writes. "If successful, Clearwire's IPO would be the second largest in Washington after AT&T Wireless, which raised $10.6 billion in 2000."
According to the filing, the IPO will serve to support the company for the next 12 months. The shares will trade on NASDAQ under the tickler CLWR.
Despite the IPO, Duryee says, founder Craig McCaw will retain full control of the company. "After the public offering, control will remain in the hands of both McCaw and Intel due to a two-class stock structure in which they hold shares with 10 times the voting clout of the shares being sold to outside investors," she writes.
More here from GigaOM's Katie Fehrenbacher.