RigNet, which provides data network infrastructure that enables remote communications to the oil and gas industry, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $75 million by offering 5 million shares at a price range of $14-$16. At the mid-point of the proposed range, RigNet will command a market value of $239 million. RigNet, 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, for which timing was not disclosed.
