Bellevue, Wash., Dec. 5, 2011 (GLOBE NEWSWIRE) -- Clearwire Corporation (NASDAQ: CLWR) today announced that it plans to offer $300.0 million of its Class A Common Stock in a registered public offering. Clearwire also expects to grant the underwriters a 30-day option to purchase up to an additional $45.0 million of its Class A Common Stock.

Sprint Nextel Corporation ("Sprint") has agreed to exercise its pro rata preemptive rights with respect to the offering and that upon such exercise, Sprint will purchase, in a separate, private transaction, only shares of our Class B Common Stock and a corresponding number of Class B Common Interests in Clearwire's wholly-owned subsidiary, Clearwire Communications, LLC.

The company 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.

J.P. Morgan, BofA Merrill Lynch and Jefferies & Company are acting as joint book-running managers for the proposed offering.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The offering will be made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A copy of the prospectus and prospectus supplement related to the offering may be obtained by contacting: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling toll-free at 1-866-803-9204, or BofA Merrill Lynch, 4 World Financial Center, New York, New York, 10080, Attn: Prospectus Department or by email at dg.prospectus_requests@baml.com, or Jefferies & Company, Equity Syndicate Prospectus Department, at 520 Madison Avenue, 12th Floor, New York, NY 10022, at 877-547-6340 and at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.