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RigNet prices IPO at $12, below the range

December 14, 2010

RigNet, which provides telecom services for remote offshore/onshore oil & gas rigs, raised $60 million by offering 5 million shares at $12.00, below the range of $14.00 to $16.00. RigNet plans to list on the NASDAQ under the symbol RNET. Deutsche Bank Securities and Jefferies & Co. acted as lead managers on the deal.