Clearwire Files for IPO (AP)

WASHINGTON - Clearwire Corp., which provides next-generation wireless broadband services, on Thursday registered for an initial public offering of up to $400 million in Class A common stock.

Details about the number of shares offered and estimated price range for the IPO weren't disclosed in Thursday's filing with the .

The Kirkland, Wash.-based company said it will use net proceeds from the IPO for market and network expansion, spectrum acquisitions and general working-capital purposes.

Following the IPO, Clearwire will have two classes of authorized common stock, Class A stock and Class B stock. Each share of Class A stock is entitled to one vote, while each share of Class B stock is entitled to 10 votes per share, the filing said.

All of the outstanding Class B shares are beneficially owned by Clearwire's founder, chairman and co-chief executive, Craig O. McCaw, the filing said.

For the year ended Dec. 31, 2005, Clearwire reported a net loss of $140 million, widening from a loss of $33 million in 2004.

The company plans to list its Class A common stock on the Nasdaq Stock Market under the symbol CLWR.

Merrill Lynch & Co., Morgan Stanley, JPMorgan, Bear, Stearns & Co. Inc. and Wachovia Capital Markets LLC were listed as underwriters for the offering.

The $400 million valuation for the IPO was estimated solely for calculating the registration fee, the filing said. Often, the eventual price terms of an IPO offer differ substantially from the valuation in the first registration.

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