Clearwire Corporation Announces Upsizing and Pricing of Public Offering of Common Stock

Clearwire Corporation announced that its previously announced public offering of its Class A Common Stock has been upsized from $300.0 million to $350.0 million. The offering has priced at $2.00 per share to the public, and 175,000,000 shares are being offered. Clearwire has also granted the underwriters a 30-day option to purchase up to an additional $52.5 million, or 26,250,000 shares, of its Class A Common Stock. The offering is expected to close on December 13, 2011. In addition, Sprint Nextel Corporation (Sprint) agreed to exercise its pro rata preemptive rights with respect to the offering in the Commitment Agreement between Clearwire and Sprint, dated November 30, 2011. Upon such exercise, Sprint will purchase, in a separate, private transaction, approximately 172 million additional shares of Clearwire`s Class B Common Stock and a corresponding number of Class B Common Interests in Clearwire`s wholly-owned subsidiary, Clearwire Communications, LLC. Clearwire plans to use the net proceeds for general corporate and working capital purposes, including the deployment of mobile 4G LTE technology alongside the mobile 4G WiMAX technology currently on its network and for the operation and maintenance of its networks and to pay fees and expenses associated with this offering. J.P. Morgan, BofA Merrill Lynch and Jefferies are acting as joint book-running managers for this offering.