(NASDAQ:CLWR) to Offer Rights Shares, Shares Fall 9%

If you are planning to invest money in stock market then you must subscribe to FREE Alerts by visiting: http://www.PennyStockPickReport.com

Clearwire Corporation (NASDAQ:CLWR) decreases 9.90% to $6.53 on 1.51 million shares. The stock hit an intraday high and an intraday low of $7.16 and $6.40 respectively. In the last six months the stock went up over 9%. Clearwire Corporation yesterday announced that it intends to launch a common stock rights offering, pursuant to which rights to purchase shares of its Class A common stock will be offered pro rata to holders of its Class A common stock as of a record date to be determined. Each right will be exercisable for approximately 0.4336 shares of Class A common stock at a per share price of $7.33. The Company plans to file a registration statement with the Securities and Exchange Commission to register the rights and the underlying Class A common stock within the next 30 days, and to issue the rights once this registration statement is effective. The rights offering will be open for a period of six months following the effective date of the registration statement. The parties to the Company's Equityholders` Agreement, dated November 28, 2008, have agreed not to exercise any rights received by them in the rights offering.

ABOUT PennyStockPickReport.com

Penny Stock Pick Report is one of the leading stock web site that provides free stock alerts and tracks small cap penny stocks that could be on the brink of a massive breakout.  If you wish to get your company featured on our website then please contact us by visiting our website.