LightSquared said it would use the funds for general corporate purposes, which includes constructing its 4G-LTE wholesale network. The latest financing gain puts LightSquared’s 12-month fundraising total at more than $2.3 billion.

   “This latest round of financing signals another endorsement by the financial markets of our business model, and LightSquared’s intent to use private capital to build out a new network to meet the growing demand across this entire nation for wireless broadband access,” LightSquared Chairman and CEO Sanjiv Ahuja said in a statement.

   LightSquared is currently negotiating with the U.S. Federal Communications Commission and GPS manufacturers regarding potential GPS signal interference issues caused by LightSquared’s 4G LTE network signals.