BELLEVUE, Wash., July 8, 2013 (GLOBE NEWSWIRE) -- Clearwire Corporation(NASDAQ: CLWR) ("Clearwire" or "The Company") has announced theresults of its Special Meeting of Stockholders held today. TheCompany reported that the required majority of Clearwirestockholders not affiliated with Sprint or SoftBank and more than75 percent of the outstanding shares entitled to vote thereon votedin favor of the merger agreement proposal to acquire all shares ofClearwire which Sprint does not currently own for $5.00 per share.In total, at the Special Meeting, the holders of approximately 82percent of the unaffiliated outstanding shares of common stock, asof April 2, 2013, the record date for the Special Meeting, castvotes in favor of the transaction. Also, the holders ofapproximately 95 percent of the outstanding shares of common stockas of April 2, 2013, including the approximately 50.2 percent ofshares already held by Sprint, cast votes in favor of thetransaction. "We are pleased that our stockholders recognize the value andmerits of our merger with Sprint," said Erik Prusch, President andCEO of Clearwire. "The Clearwire team is looking forward to workingclosely with our counterparts at Sprint to realize the potential ofour assets inherent in this combination as we integrate our twocompanies. "In addition, I would like to offer my sincere thanks andappreciation to the entire team at Clearwire. Their hard work,dedication and relentless focus on our business were instrumentalin successfully accomplishing all that we did as a company. I amextremely proud of this group of people, and see today's result asa culmination of the value they have delivered to ourinvestors." Stockholders today also voted to approve all of the additionalproposals, including the NASDAQ Authorization proposal, the CharterAmendment proposal, and a non-binding proposal regarding certainmerger-related executive compensation arrangements.
The Company and Sprint currently expect to close the merger onJuly 9, 2013.About Clearwire Clearwire Corporation (NASDAQ: CLWR), through its operatingsubsidiaries, is a leading provider of 4G wireless broadbandservices offering services in areas of the U.S. where more than 130million people live. The company holds the deepest portfolio ofwireless spectrum available for data services in the U.S. Clearwireserves retail customers through its own CLEAR ® brand aswell as through wholesale relationships with some of the leadingcompanies in the retail, technology and telecommunicationsindustries, including Sprint and NetZero. The company isconstructing a next-generation 4G LTE Advanced-ready network toaddress the capacity needs of the market, and is also workingclosely with the Global TDD-LTE Initiative to further the TDD-LTEecosystem. Clearwire is headquartered in Bellevue, Wash. Additionalinformation is available at http://www.clearwire.com. Cautionary Statement Regarding Forward LookingStatements This document includes "forward-looking statements" within themeaning of the securities laws. The words "may," "could," "should,""estimate," "project," "forecast," "intend," "expect,""anticipate," "believe," "target," "plan," "providing guidance" andsimilar expressions are intended to identify information that isnot historical in nature.This document contains forward-looking statements relating to theproposed transactions between Sprint Nextel Corporation ("Sprint")and SoftBank Corp. ("SoftBank") and its group companies, includingStarburst II, Inc. ("Starburst II"), and the proposed acquisitionby Sprint of Clearwire Corporation ("Clearwire"). All statements,other than historical facts, including, but not limited to:statements regarding the expected timing of the closing of thetransactions; the ability of the parties to complete thetransactions considering the various closing conditions; theexpected benefits of the transactions such as improved operations,enhanced revenues and cash flow, growth potential, market profileand financial strength; the competitive ability and position ofSoftBank or Sprint; and any assumptions underlying any of theforegoing, are forward-looking statements. Such statements arebased upon current plans, estimates and expectations that aresubject to risks, uncertainties and assumptions. The inclusion ofsuch statements should not be regarded as a representation thatsuch plans, estimates or expectations will be achieved. You shouldnot place undue reliance on such statements. Important factors thatcould cause actual results to differ materially from such plans,estimates or expectations include, among others, that (1) there maybe a material adverse change of SoftBank; (2) the proposedfinancing may involve unexpected costs, liabilities or delays ormay not be completed on terms acceptable to SoftBank, if at all;and (3) other factors as detailed from time to time in Sprint's,Starburst II's and Clearwire's filings with the Securities andExchange Commission ("SEC"), including Sprint's and Clearwire'sAnnual Reports on Form 10-K for the year ended December 31, 2012,and other factors that are set forth in the proxystatement/prospectus contained in Starburst II's RegistrationStatement on Form S-4, which was declared effective by the SEC onMay 1, 2013, and in other materials that will be filed by Sprint,Starburst II and Clearwire in connection with the transactions,which will be available on the SEC's web site ( www.sec.gov). Therecan be no assurance that the transactions will be completed, or ifcompleted, that such transactions will close within the anticipatedtime period or that the expected benefits of such transactions willbe realized.All forward-looking statements contained in this document and thedocuments referenced herein are made only as of the date of thedocument in which they are contained, and none of Sprint, SoftBank,Starburst II, Clearwire or Collie Acquisition Corp.undertakes anyobligation to update any forward-looking statement to reflectevents or circumstances after the date on which the statement ismade or to reflect the occurrence of unanticipated events except asrequired by law. Readers are cautioned not to place undue relianceon any of these forward-looking statements.
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