Connectivity

RigNet Closes Initial Public Offering

By Photo of Jeffrey Hill

[Satellite TODAY 12-21-10] Oil and gas industry communications systems provider RigNet closed its initial public offering of 5 million shares at an initial price of $12.00 per share, the company announced Dec.20.
    The Houston-based managed communications, networks and collaborative applications provider began trading on the Nasdaq market on Dec. 15. RigNet said it sold about 3.33 million shares of its common stock and that its selling stockholders sold the remaining 1.67 million shares in the offering.
    Deutsche Bank Securities, Jefferies & Co., Oppenheimer & Co. and Simmons & Co. were underwriters on the offering.

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