Leap Announces Increase in Proposed Public Offering from 6.1 Million to 7.0 Million Shares of Common Stock

SAN DIEGO--(BUSINESS WIRE)--Leap Wireless International, Inc. (NASDAQ:LEAP) today announced that it intends to offer and sell, subject to market and other conditions, an aggregate of 7.0 million shares of its common stock in an underwritten public offering, an increase of 0.9 million shares from Leap’s proposed public offering of 6.1 million shares of common stock announced yesterday.

Leap expects to use the net proceeds of the offering for general corporate purposes, which could include the expansion and improvement of its network footprint, acquisitions of additional spectrum or complementary businesses and, over the longer term, the deployment of next-generation network technology.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The offering of these securities may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which, when available, may be obtained by contacting: Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad Street, New York, New York 10004, fax: 212-902-9316 or email at prospectus-ny@ny.email.gs.com.

This press release is neither an offer to sell nor the solicitation of an offer to buy the securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale is unlawful.

Leap is a registered service mark of Leap Wireless International, Inc.