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Oil and gas telecommunications firm RigNet files for $86 million IPO

October 1, 2010

RigNet, which provides data network infrastructure that enables remote communications to the oil and gas industry, filed on Friday with the SEC to raise up to $86 million in an initial public offering. The Houston, TX-based company, which was founded in 2004 and booked $84 million in sales for the 12 months ended June 30, plans to list on the NASDAQ under the symbol RNET. Deutsche Bank Securities and Jefferies & Co. are the lead underwriters on the deal. Pricing terms and timing were not disclosed.