(Source: Seattle Times)

Craig McCaw is master of the financial markets. After raising almost a $1B from Intel and Motorola, Clearwire yesterday raised $600M in on of the most anticipated IPO in recent months.

The funds will go toward its effort to build a nationwide wireless broadband network based on a technology called WiMax. For the most part, the network competes with DSL or cable broadband providers, but because it can be mobile, it has the promise of developing a platform for new applications for Internet connections.

In its IPO, Clearwire sold 24 million shares for $25 apiece, reaching the high end of the expected range of $23 to $25. The company also exceeded expectations that it would sell 20 million shares, with an overallotment of 3 million. The stock is trading on the Nasdaq under the ticker symbol CLWR.