RESTON, Va.-Nextel Communications Inc. said it priced its underwritten offering of 30 million shares of its Class A common stock at $83.813 per share.
The closing of the transaction was expected to occur Nov. 5, and the number of shares outstanding after the transaction will be about 345.1 million, the company said.
Nextel said it intends to use approximately $2.4 billion in net proceeds from the offering to fund capital expenditures, investments, working capital needs and other general corporate purposes.
