Thursday, May 11, 2006

Clearwire Files For $400M IPO

Kirkland, Washington-based Clearwire has filed for a $400M IPO this morning. The firm, which provides wireless broadband services based on the pre-WiMAX standard, reported losses of $127M on revenues of $33M in the year ending December 2005. The IPO is being underwritten by Merrill Lynch & Co., Morgan Stanley, JP Morgan, Bears, Stearns & Co., and Wachovia Capital Markets. Clearwire, which is headed by Craig McCaw, recently raised $360M in venture funding for the firm.