Clearwire Corp. plans to sell 20 million shares today at $23 to $25 a share in a bid to raise about $480 million in its IPO.
The wireless broadband network operator plans to trade on the Nasdaq under the symbol CLWR.
The Kirkland, Wash.-based company, founded by telecommunications pioneer Craig O. McCaw, launched in its first market in 2004.
As of Dec. 31, the company offered services to more than 9.6 million people in the U.S. and Europe. Underwriters on the IPO include Merrill Lynch, Morgan Stanley and J.P. Morgan.
Last month, Clearwire agreed to pay $300 million for 2.5-gigahertz spectrum currently controlled by AT&T Inc.'s BellSouth regional unit.
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