BELLEVUE, Wash.-Western Wireless Corp. priced a public offering of 12 million shares of common stock that the carrier expects will generate $228 million. The carrier said it will use net proceeds from the offering for general corporate purposes, to fund working capital requirements, for making capital expenditures and for potential acquisitions.
Western Wireless, which released strong third-quarter results earlier this month, recently announced plans to overlay portions of its legacy TDMA and analog network with GSM/GPRS technology in addition to its current CDMA2000 1x technology overlay and acquired HickoryTech Corp.’s rural wireless operations for $25 million.
