You know, given the prevailing gloom and doom scenarios offered by so many financial and tech analysts for Clearwire's future, I would have expected the company to have to work their asses off to raise just $1B at a time like this. But the same street which has so many doubts is practically throwing money at these guys. Yesterday they just raised another $920M. So how much does that make now?
|+ $1.564B||in new stock to Sprint, Comcast & crew|
|+ $1.85B||increased from $1.45B in senior debt due 2015 priced today at 12%|
|+ $920M||more of the same senior debt today, at 0.979 on the dollar.|
|= $4.3B||in new capital|
|- $1.4B||repaid credit facility|
|- <$0.1B||fees and discounts|
|>= $2.8B||additional cash available to spend|
So what does this mean? It means that if nothing else, the great WiMAX buildout extravaganza will go on without interruption for quite some time yet. Now all they need is subscribers, a million or so of them ought to crack open the door a bit...
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