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Filing Details

Accession Number:: 0001181431-10-063213
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-22 11:56:21
Reporting Period:: 2010-12-20

Filing Date:: 2010-12-22
Accepted Time:: 2010-12-22 11:56:21
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1162112	Rignet Inc.	RNET	Communications Services, Nec (4899)	760677208

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
904778	A Don Sanders	600 Travis, Suite 3100 Houston TX 77002	No	No	Yes	Yes
1053994	Smh Capital Inc.	600 Travis, Suite 5800 Houston TX 77002	No	No	Yes	Yes
1071341	Sanders Morris Harris Group Inc	600 Travis, Suite 5800 Houston TX 77002	No	No	Yes	No
1118194	Sanders Opportunity Fund Lp	600 Travis, Suite 3100 Houston TX 77002	No	No	Yes	Yes
1118195	Sanders Opportunity Institutional Lp	600 Travis, Suite 3100 Houston TX 77002	No	No	Yes	Yes
1312540	P L I Group Equity Private Harris Morris Sanders	600 Travis, Suite 5800 Houston TX 77002	No	No	Yes	Yes
1507215	Smh Private Equity Group Ii, L.p.	600 Travis, Suite 5800 Houston TX 77002	No	No	Yes	Yes
1507216	Smh Peg Management, Llc	600 Travis, Suite 5800 Houston TX 77002	No	No	Yes	Yes
1507218	Smh Peg Management Ii, Llc	600 Travis, Suite 5800 Houston TX 77002	No	No	Yes	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2010-12-20	558,705	$0.00	558,705	No	4	J	Direct
Common Stock	Acquisiton	2010-12-20	157,995	$7.00	716,700	No	4	X	Direct
Common Stock	Acquisiton	2010-12-20	113,927	$0.04	830,627	No	4	X	Direct
Common Stock	Disposition	2010-12-20	104,722	$11.16	725,905	No	4	S	Direct
Common Stock	Acquisiton	2010-12-20	167,661	$11.16	167,661	No	4	J	Direct
Common Stock	Acquisiton	2010-12-20	968,620	$1.20	1,136,281	No	4	C	Direct
Common Stock	Disposition	2010-12-20	145,356	$11.16	990,925	No	4	S	Direct
Common Stock	Acquisiton	2010-12-20	165,643	$0.00	165,643	No	4	J	Direct
Common Stock	Acquisiton	2010-12-20	206,278	$1.20	371,921	No	4	C	Direct
Common Stock	Acquisiton	2010-12-20	39,799	$7.00	411,720	No	4	X	Direct
Common Stock	Acquisiton	2010-12-20	41,380	$0.04	453,100	No	4	X	Direct
Common Stock	Disposition	2010-12-20	57,688	$11.16	395,432	No	4	S	Direct
Common Stock	Acquisiton	2010-12-20	48,753	$0.00	48,753	No	4	J	Direct
Common Stock	Acquisiton	2010-12-20	60,714	$1.20	109,467	No	4	C	Direct
Common Stock	Acquisiton	2010-12-20	11,717	$7.00	121,184	No	4	X	Direct
Common Stock	Acquisiton	2010-12-20	12,937	$0.04	134,121	No	4	X	Direct
Common Stock	Disposition	2010-12-20	17,077	$11.16	117,044	No	4	S	Direct
Common Stock	Acquisiton	2010-12-20	61,257	$0.00	61,257	No	4	J	Direct
Common Stock	Disposition	2010-12-20	76,284	$1.20	137,541	No	4	C	Direct
Common Stock	Disposition	2010-12-20	14,722	$7.00	152,263	No	4	X	Direct
Common Stock	Disposition	2010-12-20	20,431	$0.04	172,694	No	4	X	Direct
Common Stock	Acquisiton	2010-12-20	22,023	$11.16	150,671	No	4	S	Direct
Common Stock	Acquisiton	2010-12-20	16,125	$0.00	16,125	No	4	J	Direct
Common Stock	Acquisiton	2010-12-20	12,057	$0.00	12,057	No	4	J	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	J	Direct
No	4	X	Direct
No	4	X	Direct
No	4	S	Direct
No	4	J	Direct
No	4	C	Direct
No	4	S	Direct
No	4	J	Direct
No	4	C	Direct
No	4	X	Direct
No	4	X	Direct
No	4	S	Direct
No	4	J	Direct
No	4	C	Direct
No	4	X	Direct
No	4	X	Direct
No	4	S	Direct
No	4	J	Direct
No	4	C	Direct
No	4	X	Direct
No	4	X	Direct
No	4	S	Direct
No	4	J	Direct
No	4	J	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Preferred Stock	Disposition	2010-12-20	37,500	$1.20	100,000	$1.20
Common Stock	Series A Preferred Stock	Disposition	2010-12-20	29,845	$1.20	79,590	$1.20
Common Stock	Series A Preferred Stock	Disposition	2010-12-20	101,403	$1.20	270,410	$1.20
Common Stock	Series B Preferred Stock	Disposition	2010-12-20	4,288	$1.20	7,582	$1.20
Common Stock	Series B Preferred Stock	Disposition	2010-12-20	3,412	$1.20	6,034	$1.20
Common Stock	Series B Preferred Stock	Disposition	2010-12-20	11,598	$1.20	20,502	$1.20
Common Stock	Series C Preferred Stock	Disposition	2010-12-20	34,392	$1.20	95,005	$1.20
Common Stock	Series C Preferred Stock	Disposition	2010-12-20	968,618	$1.20	2,667,762	$1.20
Common Stock	Series C Preferred Stock	Disposition	2010-12-20	17,451	$1.20	75,613	$1.20
Common Stock	Series C Preferred Stock	Disposition	2010-12-20	93,274	$1.20	256,899	$1.20
Common Stock	Junior Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	14,481	$7.00	57,924	$7.00
Comon Stock	Junior Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	11,525	$7.00	46,102	$7.00
Common Stock	Junior Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	39,146	$7.00	156,587	$7.00
Common Stock	Junior Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	154,950	$7.00	619,800	$7.00
Common Stock	Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	241	$7.00	964	$7.00
Common Stock	Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	192	$7.00	768	$7.00
Common Stock	Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	652	$7.00	2,610	$7.00
Common Stock	Warrants to Purchase Stock (Right to Buy)	Disposition	2010-12-20	3,125	$7.00	12,180	$7.00
Common Stock	Series A & B Warrants (Right to Buy)	Disposition	2010-12-20	20,431	$7.00	81,724	$0.04
Common Stock	Series A & B Warrants (Right to Buy)	Disposition	2010-12-20	12,937	$0.04	51,751	$0.04
Common Stock	Series A & B Warrants (Right to Buy)	Disposition	2010-12-20	41,380	$0.04	165,521	$0.04
Common Stock	Series A & B Warrants (Right to Buy)	Disposition	2010-12-20	113,927	$0.04	455,571	$0.04

Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2004-09-15		No	4	C	Direct
2004-09-15		No	4	C	Direct
2004-09-15		No	4	C	Direct
2005-01-11		No	4	C	Direct
2005-01-11		No	4	C	Direct
2005-01-11		No	4	C	Direct
2005-06-24		No	4	C	Direct
2005-06-24		No	4	C	Direct
2005-06-24		No	4	C	Direct
2005-06-24		No	4	C	Direct
2007-04-19	2011-12-31	No	4	X	Direct
2007-04-19	2011-12-31	No	4	X	Direct
2007-04-19	2011-12-31	No	4	X	Direct
2007-04-19	2011-12-31	No	4	X	Direct
2010-06-15	2016-09-15	No	4	X	Direct
2010-06-15	2016-09-15	No	4	X	Direct
2010-06-15	2016-09-15	No	4	X	Direct
2010-06-15	2016-09-15	No	4	X	Direct
2008-12-31	2015-12-31	No	4	X	Direct
2008-12-31	2015-12-31	No	4	X	Direct
2008-12-31	2015-12-31	No	4	X	Direct
2008-12-31	2015-12-31	No	4	X	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	0	Direct
Common Stock	0	Direct

Footnotes

No expiration date
These securities are owned directly by SMH Private Equity Group II, L.P. and indirectly by SMH PEG Management II, LLC, the general partner of SMH Private Equity Group II, L.P., Sanders Morris Harris Inc., the controlling member of SMH PEG Management II, LLC, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. SMH PEG Management II, LLC, Sanders Morris Harris Inc., and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by Sanders Morris Harris Private Equity Group I, L.P. (also referred to as SMH Private equity Group I, L.P.) and indirectly by SMH PEG Management I, LLC, the general partner of Sanders Morris Harris Private Equity Group I, L.P., Sanders Morris Harris Inc., the controlling member of SMH PEG Management I, LLC, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. SMH PEG Management I, LLC, Sanders Morris Harris Inc., and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by Sanders Opportunity Fund (Institutional), L.P. and indirectly by SOF Management, LLC, the general partner of Sanders Opportunity Fund (Institutional), L.P., Sanders Morris Harris Inc., the controlling member of SOF Management, LLC, Don A. Sanders, the chief investment officer of SOF Management, LLC, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. SOF Management, LLC, Don A. Sanders, Sanders Morris Harris Inc., and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by Sanders Opportunity Fund, L.P. and indirectly by SOF Management, LLC, the general partner of Sanders Opportunity Fund, L.P., Sanders Morris Harris Inc., the controlling member of SOF Management, LLC, Don A. Sanders, the chief investment officer of SOF Management, LLC, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc., SOF Management, LLC, Don A. Sanders, Sanders Morris Harris Inc., and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by Don A. Sanders and indirectly by Sanders Morris Harris Inc., Mr. Sanders employer, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. Sanders Morris Harris Inc. and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by Sanders Morris Harris Inc. and indirectly by Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by SMH PEG Management II, LLC and indirectly by Sanders Morris Harris Inc., the controlling member of SMH PEG anagement II, LLC, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. Sanders Morris Harris Inc. and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These securities are owned directly by SMH PEG Management, LLC and indirectly by Sanders Morris Harris Inc., the controlling member of SMH PEG Management, LLC, and Sanders Morris Harris Group Inc., the parent of Sanders Morris Harris Inc. Sanders Morris Harris Inc. and Sanders Morris Harris Group Inc. disclaim beneficial owernship of the reported securities except to the extent of their pecuniary interest therein.
These shares are owned by Sanders Morris Harris Group Inc.
In the event of an initial public offering of common stock of the issuer, the holders of Series A, B, and C preferred stock are entitled to receive additional shares equal to the amount per share originally paid to the issuer for such shares plus any accrued and unpaid dividends divided by the initial offering price.
One for four reverse stock split