Thursday, March 29, 2007

NextWave Wireless Scores $355M In Private Placement

Publicly held NextWave Wireless, a provider of mobile broadband and wireless multimedia technology, said late Wednesday night that it has raised $355M in a private placement. The San Diego-based firm said it sold 355,000 shares of senior convertible preferred stock at $1,000 per share. Investments include $50M each from NextWave Wireless Chairman and CEO Allen Salmasi and Douglas Manchester, a member of the firm's board of directors. Other investors were not disclosed.