Clearwire (CLWR) drops 7% after increasing the size of a recently-announced stock offering: an...

|By:, SA News Editor

Clearwire (CLWR) drops 7% after increasing the size of a recently-announced stock offering: an additional $50M in shares will be sold to the public, and Sprint (S), courtesy of its pro rata preemptive rights, will purchase nearly as much. Moreover, Clearwire is pricing its offering, which now totals almost $700M, at $2/share, below yesterday's close of $2.28.