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Filing Details

Accession Number:: 0001181431-10-063362
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-22 16:59:15
Reporting Period:: 2010-12-20

Filing Date:: 2010-12-22
Accepted Time:: 2010-12-22 16:59:15
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	Insider Title	Director	Officer	Large Shareholder	Other
1506594	W. Dirk Mcdermott	C/O Rignet, Inc. 1880 S. Dairy Ashford, Suite 300 Houston TX 77077		No	No	No	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	Explanation
Common Stock	Acquisiton	2010-12-20	1,484,535	$0.00	2,621,835	No	4	C	Indirect	(1)(2)
Common Stock	Disposition	2010-12-20	383,895	$11.16	2,237,940	No	4	S	Indirect	(1)

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	(1)(2)
No	4	S	Indirect	(1)

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	500,000	$0.00	750,000	$0.00
Common Stock	Series B Preferred Stock	Disposition	2010-12-20	37,910	$0.00	62,407	$0.00
Common Stock	Series C Preferred Stock	Disposition	2010-12-20	475,017	$0.00	672,128	$0.00

Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect

Footnotes

Mr. McDermott is a member of Altira Group, LLC, which is the managing member of Altira Technology Fund III LLC ("Fund III"), which is the sole member of the general partner of Altira Technology Fund IV L.P. ("Fund IV", and together with Fund III, the "Funds") and may vote or sell securities owned by the Funds. Mr. McDermott disclaims beneficial ownership of any shares of Common Stock, Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock owned by the Funds, except to the extent of any pecuniary interest therein.
1,137,301 shares of Common Stock are owned directly by Altira Technology Fund IV L.P. and 1,484,535 shares of Common Stock are owned directly by Altira Technology Fund III LLC. Altira Group LLC is an indirect beneficial owner of the reported securities held by Altira Technology Fund IV L.P.
193,561 shares of Common Stock were sold by Altira Technology Fund III LLC and 190,334 shares of Common Stock were sold by Altira Technology Fund IV L.P. in a registered underwritten public offering pursuant to an underwriting agreement entered into on December 14, 2010.
Represents public offering price of $12.00 per share of common stock less the underwriter's discount of $0.84 per share of common stock.
The amount of underlying securities consists of (i) shares of Common Stock issued in connection with the conversion, which occurred immediately prior to the closing of the Issuer's initial public offering on December 20, 2010, of the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock reported in column 5 and (ii) shares of Common Stock issued to pay the major event preference, which occurred immediately prior to the closing of the Issuer's initial public offering on December 20, 2010, for the preferred stock reported in column 5. The conversion and major event preference are more fully described in the prospectus filed by the Issuer pursuant to Rule 424(b) under the Securities Act of 1933 on December 16, 2010. The Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock had no expiration date. The Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock are owned directly by Altira Technology Fund III LLC.