RigNet, Inc. Announces Exercise of Over-Allotment Option for Recent Initial Public Offering

/ Source: GlobeNewswire

HOUSTON, Jan. 4, 2011 (GLOBE NEWSWIRE) -- RigNet, Inc. (Nasdaq:RNET) today announced that the underwriters of its recently completed initial public offering of common stock have exercised their over-allotment option in full and will purchase an additional 500,000 shares of common stock from RigNet and 250,000 additional shares of common stock from the selling stockholders at the initial public offering price of $12.00 per share, less the underwriting discount. The sale of the additional shares of common stock is anticipated to close on January 6, 2011.

Deutsche Bank Securities Inc. and Jefferies & Company, Inc. acted as joint book-running managers for the offering. Oppenheimer & Co. Inc. and Simmons & Company International were the co-managers of the offering. A copy of the final prospectus 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 on December 14, 2010. 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 investor.relations@rig.net