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The firm had a previous IPO filing, but withdrew it and accepted $900m from Intel, Motorola: The new IPO would sell 20m shares for $23 to $25 to raise capital for expansion, or over $500m at the mid-range after expenses. After the sale, Intel will keep a 27 percent stake and Motorola, 13 percent. Both firms, along with Samsung, are developing mobile WiMax equipment for Clearwire, as well as for Sprint.
Posted by Glennf at February 14, 2007 11:15 AM
btw, just noticed recently that Towerstream began trading under the symbol TWER.OB on Jan 26. still, Towerstream opted only to list on the bulletin board so clearly there's less interest.
what it does seem to suggest is that Towerstream may be looking to make some acquisitions. we have yet to see though any WISPs whose investors have benefited from their public status. Earthlink, MobilePro, ICOA, US Wireless Online, Roomlinx and Siricomm have simply been deteriorating in the past year. Fatport, a subsidiary of Ignition Point Technologies in Canada, has not had much more success according to their SEDAR filings. It seems everyone is just waiting for the industry to develop new monetization processes. And in the meantime, they'll just collect investor money for payroll, build & acquire networks. . . and hope one day they could make some money off it.
Posted by: jp at February 19, 2007 6:45 PM