Clearwire, a US-based telecom equipment provider backed as Intel Capital’s largest deal in 2006, has raised $715.5m from a public and private placing of shares.
Clearwire sold 227.5 million A shares to the public at $2 each and 173,635,000 B shares to phone operator Sprint, which is also paying $1.6bn for access to Clearwire’s WiMax network.
Erik Prusch, executive president of Clearwire, said: "The added resources will enable us to continue delivering 4G [fourth generation] mobile broadband service to meet the rapidly growing demand in the industry."