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March 7, 2007

Clearwire is set to go public

Posted by Tricia Duryee at 2:06 PM

Now that the public markets have closed for the day (and we aren't talk about Pike Place), Clearwire is expected to be priced any minute in its initial public offering.

If it's any indication that it could occur soon, Clearwire filed four documents with the Securities & Exchange Commission today.

Two of those documents are just updates to Clearwire's initial IPO intentions.

There's not much different in the document today compared with the one filed Feb. 20.

What did stand out were details on where the Kirkland-based company is planning to roll out its WiMax-like services next. It wrote that it plans to make the service available to about 16 million to 18 million people in 2007 in the U.S. and abroad. The number reaches to more than 45 million people in 2008.

In the rest of 2007 and for all of 2008, Clearwire said it plans to launch in "certain small cities in Central or Eastern Washington, small and medium cities in Central and North Florida and South Alabama, various contiguous small cities in adjacent suburban and rural areas in Southeastern Pennsylvania and medium metropolitan areas in Central California, and medium to large metropolitan areas in Texas and in the Southeast."

It also expects to expand its market in Belgium, and launch in Spain.

This line in the filing is also new: "We believe this deployment schedule diversifies our geographic concentration, makes efficient use of our existing spectrum portfolio and carries potential to broaden our subscriber base to as many as 375,000 to 400,000 total subscribers in both our U.S. and international markets by the end of 2007."

At the end of 2006, Clearwire offered service to the 8.6 million people in its 34 U.S. markets and 1 million people abroad, in Brussels, Belgium and Dublin, Ireland. Clearwire had 184,400 U.S. subscribers and 21,800 international subscribers at year's end.

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Tricia Duryee
Tricia Duryee
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