updated 12/14/2010 8:45:21 PM ET 2010-12-15T01:45:21

HOUSTON, Dec. 14, 2010 (GLOBE NEWSWIRE) -- RigNet, Inc. today announced the initial public offering of 5,000,000 shares of its common stock at $12.00 per share. The shares will begin trading on The NASDAQ Global Select Market on December 15, 2010 under the ticker symbol "RNET." RigNet is offering 3,333,334 shares of common stock and selling stockholders are offering the remaining 1,666,666 shares in the offering. The underwriters have a 30-day option to purchase up to an additional 500,000 shares from RigNet and an additional 250,000 shares from the selling stockholders to cover over-allotments, if any.

Deutsche Bank Securities Inc. and Jefferies & Company, Inc. are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. and Simmons & Company International are the co-managers of the offering. The public offering is being made only by means of a prospectus, copies of which may be obtained from either:

Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey, 07311-398, telephone (800) 503-4611, or by e-mailing prospectus.cpdg@db.com; or Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, New York, 10022, telephone (877) 547-6340, or by emailing Prospectus_Department@Jefferies.com.

A registration statement relating to shares of the common stock of RigNet has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

RigNet is a leading global provider of managed communications, networks and collaborative applications dedicated to the oil and gas industry. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to remote sites in over 30 countries on six continents, effectively spanning the drilling and production industry. RigNet is based in Houston,Texas.

The RigNet, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8418

CONTACT:  RigNet, Inc.
          Marty Jimmerson
          +1 (281) 674-0118

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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