Clearwire Investor Floats $240M Funding In Lieu Of Sprint's

Law360, New York (April 03, 2013, 6:28 PM ET) -- Texas investment firm Crest Financial Ltd., Clearwire Corp.'s largest minority shareholder, on Wednesday offered the wireless services provider $240 million in liquidity to fund its capital operations for 2013 as an alternative to financing from Sprint Nextel Corp., which seeks to buy Clearwire.

Crest Financial proposed a $240 million convertible debt facility fully funded by the Houston-based investor and its affiliates. The terms of the financing would be largely similar to those provided by Sprint, already Clearwire's majority shareholder, which offered 10 monthly installments of $80...
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