Edgar Filing: ALTIRA TECHNOLOGY FUND III LLC

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Altira Group LLC

2. Date of Event Requiring Statement (Month/Day/Year)
12/14/2010

3. Issuer Name and Ticker or Trading Symbol
RigNet, Inc. [RNET]

(Last)

(First)

(Middle)

C/O RIGNET, INC.,Â 1880 S. DAIRY ASHFORD, SUITE 300

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

HOUSTON,Â TXÂ 77077

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,137,301	I	See footnotes ⁽¹⁾ ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Preferred Stock	Â ⁽³⁾	Â ⁽³⁾	Common Stock	500,000	$ 0	I	See footnotes ⁽¹⁾ ⁽⁴⁾
Series B Preferred Stock	Â ⁽³⁾	Â ⁽³⁾	Common Stock	37,910	$ 0	I	See footnotes ⁽¹⁾ ⁽⁴⁾
Series C Preferred Stock	Â ⁽³⁾	Â ⁽³⁾	Common Stock	475,017	$ 0	I	See footnotes ⁽¹⁾ ⁽⁴⁾
Common Stock Warrants (right to buy)	Â ⁽⁵⁾	12/31/2015	Common Stock	275,666	$ 7	I	See footnotes ⁽¹⁾ ⁽⁶⁾
Common Stock Warrants (right to buy)	Â ⁽⁷⁾	12/31/2015	Common Stock	91,492	$ 0.04	I	See footnotes ⁽¹⁾ ⁽⁶⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Altira Group LLC C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 HOUSTON,Â TXÂ 77077	Â	Â X	Â	Â
Altira Management IV LLC C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 HOUSTON,Â TXÂ 7077	Â	Â X	Â	Â
ALTIRA TECHNOLOGY FUND IV L P C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 HOUSTON,Â TXÂ 7077	Â	Â X	Â	Â
ALTIRA TECHNOLOGY FUND III LLC C/O RIGNET, INC. 1880 S. DAIRY ASHFORD, SUITE 300 HOUSTON,Â TXÂ 7077	Â	Â X	Â	Â

Signatures

William Sutton pursuant to a Limited Power of Attorney filed with the SEC on December 14, 2010. /s/ William Sutton		12/14/2010
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Altira Group LLC is the managing member of Altira Technology Fund III LLC and the managing member and sole member of Altira Management IV LLC, which is the general partner of Altira Technology Fund IV L.P.
(2)	The Common Stock is owned directly by Altira Technology Fund IV L.P. Altira Group LLC and Altira Management IV LLC are indirect beneficial owners of the reported securities.
(3)	The Issuer's Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock are convertible into shares of Common Stock at any time, at the holder's election, and will automatically convert into Common Stock immediately prior to the closing of the Issuer's initial public offering.
(4)	The Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock are owned directly by Altira Technology Fund III LLC. Altira Group LLC is a direct beneficial owner of the reported securities.
(5)	The Common Stock Warrants are exercisable at any time, at the holder's election, until December 31, 2015.
(6)	The Common Stock Warrants are owned directly by Altira Technology Fund IV L.P. Altira Group LLC and Altira Management IV LLC are indirect beneficial owners of the reported securities.
(7)	The Common Stock Warrants are exercisable at any time, at the holder's election, until December 31, 2015.
Â Remarks: ExhibitÂ ListÂ ---------------Â ExhibitÂ 24-LimitedÂ PowerÂ ofÂ AttorneyÂ forÂ SectionÂ 16(a)Â Reporting

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