Thu, Oct 23, 2014, 4:08 AM EDT - U.S. Markets open in 5 hrs 22 mins

Recent

% | $
Quotes you view appear here for quick access.

Clearwire Corporation (CLWRD) Message Board

  • codesilver1 codesilver1 Jun 17, 2013 12:29 AM Flag

    Intel

    June 14

    In addition, Intel Capital Wireless Investment Corporation 2008A, a Delaware corporation and the only holder of Class B common stock of Clearwire (“Class B Common Stock” and, together with the corresponding Clearwire Communications, LLC Class B units, the “Class B Interests”) other than Clearwire, Sprint and Sprint’s affiliates, has elected to irrevocably exchange, immediately prior to the effective time of the Merger, all of its Class B Interests into shares of Class A Common Stock, which will then automatically convert into the right to receive the Merger Consideration at the effective time of the Merger.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Not sure what this announcement means. I understand about the conversion from A to B shares. But does this mean the strategic partners will sell to Sprint even if Sprint does not get all of Clwr, can they sell to the Dish tender, can Dish include its shares includidng the note as part of its 25% voting block that it demands for the tender and does Credit Suisse still own the stated shares and how will it apply same. These are crucial issues and any or all answers from knowledgeable posters will be apprecated. At this point, this post raises more questions in my mind than it answer. I guess thats the norm at this stage of the game

    • Just FYI.

      94,076,878 Intel
      8,474,440 BHN
      88,504,132 Comcast
      16,107,500 Dish (May 2013)
      1.5 % Dish Notes
      "Purchaser and DISH and their respective affiliates currently own an amount of 8.25% Exchangeable Notes due 2040 issued by Clearwire that, if exchanged for Shares, would represent approximately 1.5% of the total Voting Power of all Clearwire Common Stock."
      -------------------------------------
      29,411,765 Google Shares (Sold to Credit Suisses Mar 2012)
      46,404,782 TWC (Sold Credit Suisses Sep 2012)

      • 1 Reply to codesilver1
      • Today June 17
        "Based on the information set forth in Clearwire's public filings to date, approximately 440 million Shares must be validly tendered and not withdrawn in order to meet the requirement in clause (i) of the Minimum Condition. As DISH currently beneficially owns approximately 39 million Shares (or notes issued by Clearwire that are exchangeable for Shares), approximately 401 million Shares need to be tendered as of the Expiration Date. As the exact number of fully diluted shares outstanding varies with time, this number may be higher or lower as of the Expiration Date. Based on current publicly disclosed ownership information, it is expected that at least one tendering stockholder (including, if applicable, stockholders that have entered into an investing group with such tendering stockholder) must hold at least 5% of the Shares in order for the Minimum Condition to be met."

        1.5 % Dish Notes
        "Purchaser and DISH and their respective affiliates currently own an amount of 8.25% Exchangeable Notes due 2040 issued by Clearwire that, if exchanged for Shares, would represent approximately 1.5% of the total Voting Power of all Clearwire Common Stock."

        so does that mean the debt they bought is now gone and change for shares?

 

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.