ClearWire Sets IPO Terms

ClearWire Corp., a Kirkland, Wash.-based WiMAX company, has set its proposed IPO terms to 20 million shares being offered at between $23 and $25 per share. This means that ClearWire is targeting upwards of $500 million, compared to an original filing for $400 million. It plans to trade on the Nasdaq under ticker symbol CLWR, with Merrill Lynch, Morgan Stanley and JPMorgan serving as co-lead underwriters. Seven other banks also are participating. ClearWire has raised around $1.2 billion in private equity funding, including a $900 million infusion last year led by Intel Capital. Other significant shareholders include < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />BellCanada, Motorola and company founder Craig McCaw.