Clearwire (NSDQ: CLWR) was able to raise more debt than originally anticipated, which has bumped up its recent fundraising efforts to a little more than $2 billion, according to a document filed today with the SEC.
It gets a bit confusing, but here’s how its fundraising efforts break down: In the recent debt offering, Clearwire was able to secure $1.6 billion, or $200 million more than anticipated. That debt will go towards paying off existing debt of $1.4 billion. That extra funding plus other notes from Sprint (NYSE: S) and Comcast (NSDQ: CMCSA), brings the net to $447 million, and this is all in addition to the $1.6 billion raised in equity from investors. In all, Clearwire now has raised more than $2 billion in new funding that will go towards building out its nationwide network.
However, the funding doesn’t stop there. Clearwire still expects to secure up to $295 million in the common stock from existing shareholders, and will have some additional wiggle room in raising capital going forward as a result of the debt restructuring.
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