Hometown: Kirkland, WA
Date of IPO: March 7, 2007
Shares: 24 million
Offer price: $25
Underwriters: Merrill Lynch, Morgan Stanley, J.P. Morgan
The company's background: Craig McCaw's Clearwire Corp. is currently building out a WiMAX network across the U.S. Clearwire filed for a $400 million IPO in May 2006 but dropped the plans after it received a $900 million investment from Intel Capital and Motorola Ventures. After filing for an IPO (once again) in December it finally went through with it.
How did the IPO go? Nearly a week after Clearwire launched its IPO, its share prices fell some 20 percent below the original offering price. Today the price hovers about 40 percent below the initial offering. While the company was close to finalizing a deal with Sprint Nextel to co-brand and market their future WiMAX networks, the deal unraveled amid dismal earnings from Sprint. Since then Wall Street has not been kind to either company.