Clearwire switched their business model to 4G wholesale and have raised $734 million with their latest stock offering. This amount comes from $402.5 million in public stock offerings and another $331.4 million from Sprint Nextel, which owns 49.6% of Clearwire shares. With the additional funds Clearwire intends to upgrade their older 4G WiMAX network to TD-LTE to compete with the LTE networks Verizon and AT&T offer. CEO Eric Prusch had previously contacted CNET indicating it would take them 12 months to finish after obtaining financing.
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