It looks like Clearwire is getting a little more cash than it originally planned. In a document filed yesterday with the SEC, Clearwire reported it was able to raise just over $2 billion in funding from its investors.
The company secured $1.6 billion in funding yesterday, up from the $1.45 offering proposed on Nov. 10. That cash will go toward paying off $1.4 billion in debt, netting the company an extra $200 million in cash.
Rollover notes from Sprint and Comcast amounted to an extra $247 million in capital on top of the $1.564 billion from existing investors and Eagle River Holdings.
Together with the money left over from the higher-than-anticipated offering, Clearwire managed to raise $2.011 billion in new funding. It still expects to secure up to $295 million in the rights offering to other shareholders.
Clearwire says the funding will give them more flexibility and access to capital as they move forwards with their network build out.