Friday, October 1, 2010

Rignet Files For IPO

Houston-based Rignet, a provider of data networking equipment and services for the oil and gas industry, has filed for an IPO. The firm said Friday afternoon, via a filing with the SEC, that it is looking to raise up to $86.25M in an IPO. The IPO is being underwritten by Deutsche Bank Securities, Jefferies & Company, and Simmons & Company International. The firm said it has applied to list on the NASDAQ Global Market as RNET. Rignet reported a net loss of 19.6M on revenues of $80.9M in 2009. The firm lists its major shareholders as Energy Growth AS, Altira Group LLC, and Sanders Morris Harris Group, Inc.