Sprint - Nextel 2010 Annual Report Download - page 128

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Immediately following the receipt by the Participating Equityholders of Clearwire Communications Interests, each of the
Participating Equityholders agreed to contribute to Clearwire its Clearwire Communications voting interests in exchange for an
equal number of shares of Clearwire’s Class B Common Stock, par value $0.0001 per share.
Under the Investment Agreement, in exchange for the purchase by Sprint, Comcast, Time Warner Cable and Bright
House of Clearwire Communications Class B Common Interests and Clearwire Communications Voting Interests in amounts
exceeding certain amounts stipulated in the Investment Agreement, Clearwire Communications agreed to pay a fee, which we
refer to as an Over Allotment Fee, equal to the following amounts. Such fee is payable in cash, or Clearwire Communications
Class B Common Interests and Clearwire Communications Voting Interests, at the option of the Participating Equityholder:
Investor
Sprint
Comcast
Time Warner Cable
Bright House
Over Allotment Fee
$ 18,878,934
$ 3,135,911
$ 1,659,287
$ 315,325
At the Second Investment Closing, Clearwire Communications delivered a portion of the Over Allotment Fee,
$6.9 million in cash and $9.5 million in Clearwire Communications Class B Common Interests, valued at $7.33 per interest,
and an equal number of Clearwire Communications Voting Interests to Sprint, $2.7 million in cash to Comcast, $1.4 million in
cash to Time Warner Cable and $275,000 in cash to Bright House. At the Third Investment Closing, Clearwire Communications
paid the remaining Over Allotment Fee of $3.2 million, in the aggregate. Clearwire Communications delivered the applicable
Over Allotment Fee to Sprint, one-half in cash and one-half in the form of Clearwire Communications Class B Common
Interests valued at $7.33 per interest and an equal number of Clearwire Communications Voting Interests, and to Comcast,
Time Warner Cable and Bright House Networks in cash.
Clearwire holds all of the outstanding Clearwire Communications Class A Common Interests, and all the outstanding
Clearwire Communications voting interests, representing 25% of the economics and 100% of the voting rights of Clearwire
Communications as of December 31, 2010.
The following table lists the interests in Clearwire as of December 31, 2010:
Investor
Sprint
Comcast
Time Warner Cable
Bright House
Intel
Eagle River
Google Inc.
Other Shareholders
CW Investment Holdings LLC
Class A
Common Stock
—
—
—
—
36,666,666
35,922,958
29,411,765
140,954,238
588,235
243,543,862
Class A
Common
Stock %
Outstanding
—
—
—
—
15.1%
14.7%
12.1%
57.9%
0.2%
100.0%
Class B Common
Stock(1)
531,724,348
88,504,132
46,404,782
8,474,440
65,644,812
2,728,512
—
—
—
743,481,026
Class B
Common
Stock %
Outstanding
71.5%
11.9%
6.2%
1.1%
8.9%
0.4%
—
—
—
100.0%
Total
531,724,348
88,504,132
46,404,782
8,474,440
102,311,478
38,651,470
29,411,765
140,954,238
588,235
987,024,888
Total %
Outstanding
53.9%
8.9%
4.7%
0.9%
10.3%
3.9%
3.0%
14.3%
0.1%
100.0%
_______________________________________
(1) The holders of Class B Common Stock hold an equivalent number of Clearwire Communications Class B Common
Interests.
Table of Contents CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —(CONTINUED)
F-71