SMH Private Equity Group Portfolio Company, RigNet, Announces IPO
HOUSTON, Dec. 21, 2010 /PRNewswire-FirstCall/ -- RigNet, Inc., a portfolio company of SMH Private Equity Group, has completed an initial public offering of 5,000,000 shares of common stock at $12.00 per share to finance continued expansion of the company. SMH Private Equity Group is a division of Sanders Morris Harris Group.
The company is listed on the NASDAQ Global Select Market under the symbol RNET.
RigNet builds secure communications networks that provide voice, data and video service for offshore oil and gas rigs. It has more than 375 customers in 30 different countries. This is the third major private equity investment exit in the past twelve months for SMH Private Equity Group, following the acquisition of Syntex by IHS and the sale of Lombardi Software to IBM.
A bout SMH Private Equity GroupSMH Private Equity Group invests in early-stage energy technology and healthcare technology companies. It focuses on emerging sectors that leverage its experience and expertise - providing the most productive guidance to its portfolio companies. Additional information is available at www.smhpeg.com. About Sanders Morris Harris Group Sanders Morris Harris Group (Nasdaq: SMHG) is a wealth management company that manages approximately $12.1 billion in client assets. Client assets include the gross value of assets under management directly or via outside managers and assets held in brokerage accounts for clients by outside clearing firms. Its corporate philosophy of investment in common aligns its interests with those of its clients. Sanders Morris Harris has more than 540 employees in 20 states. Additional information is available at www.smhgroup.com. SOURCE Sanders Morris Harris Group Inc.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV