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Filing Details

Accession Number:: 0001181431-10-063398
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-22 17:59:02
Reporting Period:: 2010-12-20

Filing Date:: 2010-12-22
Accepted Time:: 2010-12-22 17:59:02
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
1506747	Iv Louis Charles Davis	C/O Rignet, Inc. 1880 S. Dairy Ashford, Suite 300 Houston TX 77077		Yes	No	No	No

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	968,620	$0.00	1,707,043	No	4	C	Indirect	(1)(2)
Common Stock	Disposition	2010-12-20	251,721	$11.16	1,455,322	No	4	S	Indirect	(1)
Common Stock	Acquisiton	2010-12-21	113,575	$0.04	1,568,897	No	4	X	Indirect	(1)

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	(1)(2)
No	4	S	Indirect	(1)
No	4	X	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 C Preferred	Disposition	2010-12-20	666,940	$0.00	968,620	$0.00
Common Stock	Common Stock Warrants (right to buy)	Disposition	2010-12-21	113,927	$0.00	113,927	$0.04

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	C	Indirect
0			No	4	X	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	8,000	Direct

Footnotes

Mr. Davis is a manager of SMH PEG Management II, LLC, which is the general partner of SMH Private Equity Group II, LP, and a manager of SMH PEG Management I, LLC, which is the general partner of SMH Private Equity Group I, LP, and may vote or sell securities owned by such entities. Mr. Davis disclaims beneficial ownership of any shares of common stock, Series C Preferred Stock and Common Stock Warrants owned by such entities, except to the extent of any pecuniary interest therein
Includes (i) 12,057 shares of common stock owned by SMH PEG Management II, LLC, (ii) 1,136,281 shares of common stock owned by SMH Private Equity Group I, LP and (iii) 558,705 shares of common stock owned by SMH Private Equity Group II, LP.
145,356, 104,722 and 1,643 shares of common stock were sold by SMH Private Equity Group I, LP, SMH Private Equity Group II, L.P. and SMH PEG Management II, LLC, respectively, 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 securities acquired represents the cashless exercise of the Common Stock Warrants based on a market price of $12.93 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 C Preferred Stock reported in column 5 and the accrued and unpaid dividends on the 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 C Preferred Stock had no expiration date. The Series C Preferred Stock is owned by SMH Private Equity Group I, LP.
The Common Stock Warrants are held by SMH Private Equity Group II, LP and are exercisable at any time, at the holder's election, until December 31, 2015.