Disgruntled Clearwire (CLWR) investor Crest Financial is offering Clearwire $240M in convertible...

Disgruntled Clearwire (CLWR) investor Crest Financial is offering Clearwire $240M in convertible debt financing as an alternative to the $80M/month in financing being provided by Sprint (S). Crest, which considers Sprint's $2.97/share deal to acquire Clearwire insufficient, argues its funds would leave Clearwire with enough capital to build 2K 4G LTE cell sites and handle this year's interest payments. Clearwire closed at $3.28 today, 10% above Sprint's offer price.

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Comments (4)
  • Headcoach
    , contributor
    Comments (419) | Send Message
    It's going to take more than $240 Million to complete the TDD Build-out. The longer the delay, the better for VZ and ATT.


    I would like to know if Crest Financial also invested in Verizon or AT&T? If so, they have more to gain by stalling the build-out. In this case I can understand why they don't want Sprint to control the remainder of the shares.


    Besides, in the large scheme of things, who has more money to help with the buid-out?
    3 Apr 2013, 05:43 PM Reply Like
  • milehr
    , contributor
    Comments (682) | Send Message
    Crest's primary interest in this matter is CLWR shareholders.
    3 Apr 2013, 07:10 PM Reply Like
  • The Deep Value Investor
    , contributor
    Comments (299) | Send Message
    I think there is a possibility that Crest and DISH are working together to knock Sprint out of purchasing CLWR. I wouldnt be surprised if in the next month if a story comes out that Crest and DISH worked together to block Sprint. I am happy on the news =)
    3 Apr 2013, 09:47 PM Reply Like
  • AggGrow
    , contributor
    Comments (210) | Send Message
    That would be a curve ball indeed. This is Sprint's deal to screw up.
    3 Apr 2013, 11:24 PM Reply Like
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