LightSquared said it would use the funds for constructing its 4G LTE wholesale network, as well as for general corporate purposes. The company, which is currently solidifying its partnership with Sprint and settling its GPS interference issues with the U.S. Federal Communications Commission, has now raised a total of more than $2.3 billion in funding during the last 12 months.

   LightSquared Chairman and CEO Sanjiv Ahuja said that the deployment and operation of its network represents more than $14 billion of private investment during the next eight years.

   “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,” Ahuja said in a statement.

CORRECTION – An earlier version of this story incorrectly dated the LightSquared announcement Aug. 1. The announcement was made July 5.