IPO and Other Stock Plays Message Board

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Strategies & Market Trends : IPO and Other Stock Plays

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From: MLD38	3/7/2007 9:23:55 PM
	of 13331

CLWR raised # of shrs offered & priced at $25 yahoo.reuters.com Clearwire IPO raises $600 mln Starts off: ..."NEW YORK, March 7 (Reuters) - Wireless broadband network company Clearwire Corp., founded by cellular phone sector pioneer Craig McCaw, on Wednesday raised $600 million with an increased initial public offering that was priced at the top of a forecast range. The 24 million shares of Class A stock, which was increased from 20 million shares, sold for $25 per share compared with a $23 to $25 forecast, according to an underwriter. The company will have two classes of stock. Each share of Class B is convertible to one Class A share, but will have 10 times the voting rights as a Class A share, according to an amended offering document filed with the U.S. Securities and Exchange Commission. The offering price gives the company an initial market capitalization of more than $3.9 billion."...

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