"The company says that the capital was raised from both
existing investors as well as new investors in the company but declined to reveal ... new investors," it writes. Current investors include Spectrum Assets and Harbinger Capital Partners, which, over
the last 12 months, have helped LightSquared raised over $2.3 billion.
Yet, "LightSquared's plans have stirred controversy because the network may cause interference with GPS systems," according to TechCrunch. "The FCC is currently reviewing LightSquared plans for these interference concerns." The company, however, says it plans to resolve any issues with interference of GPS networks Going forward, LightSquared says it plans to commit $15 billion to build a wholesale wireless service using 40,000 base stations.