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Yes, they needed the money.

Clearwire (CLWR) this afternoon reported Q3 revenue of $68.8 million, slightly better than the Street consensus of $66.6 billion; it posted an adjusted OIBDA loss of $193. 8 million in the quarter, with a net loss attributable to Class A common holders of 43 cents a share, in line with Street expectations.

The WiMax wireless broadband company said it had 44,000 net subscriber adds in the quarter, increasing the total to 555,000. Churn inched up to 3.1% from 3.0% a year ago.

Filed under: Competitive strategy, Google (GOOG), Sprint Nextel Corp (S)

The vision of Clearwire (CLWR) is definitely ambitious: to "give you faster Internet at home, at work and on the go, so that people everywhere will have the magic of the Internet with them all the time." This means building a sophisticated network across the country, which does not come cheap.

Clearwire (CLWR) this morning said it has signed a deal to raise $1.564 billion in new capital from Sprint Nextel (S), Comcast (CMCSA), Time Warner Cable (TWC), Intel (INTC), Eagler River Holdings (investor Craig McCaw’s investment vehicle) and Bright House Networks, who are buying new shares priced at $7.33 apiece. The Wall Street Journal first reported on the financing yesterday.

The stock closed yesterday at $6.80.

Here’s the way the new cash breaks down: