SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* DEEPHAVEN CAPITAL MANAGEMENT LLC (Last) (First) (Middle) 130 CHESHIRE LANE SUITE 102 (Street) MINNETONKA MN 55305 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol UBIQUITEL INC [ UPCS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 06/26/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/26/2006		P		46,653	A	$10.2405	16,949,070	I	See Footnotes(1)(2)(3)(4)
Common Stock	06/27/2006		S		23,434	D	$10.35	16,925,636	I	See Footnotes(1)(2)(3)(5)
Common Stock	06/27/2006		P		340,242	A	$10.291	17,265,878	I	See Footnotes(1)(2)(3)(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* DEEPHAVEN CAPITAL MANAGEMENT LLC (Last) (First) (Middle) 130 CHESHIRE LANE SUITE 102 (Street) MINNETONKA MN 55305 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Deephaven Event Trading Ltd. (Last) (First) (Middle) 130 CHESHIRE LANE SUITE 102 (Street) MINNETONKA MN 55305 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. This statement is filed on behalf of Deephaven Capital Management LLC ("Deephaven"), a Delaware limited liability company, and Deephaven Event Trading Ltd. (the "Event Fund"), a Cayman Islands exempted company.

2. Deephaven is the investment manager to the Event Fund, as well as to other investment funds and separately managed accounts (collectively "Other Advisory Clients"). As investment manager, Deephaven has full voting and dispositive power with respect to 17,265,878 shares of the common stock of UbiquiTel Inc. (the "Issuer") directly held by the Event Fund and Other Advisory Clients. Deephaven disclaims beneficial ownership of such shares, except to the extent of its pecuniary interest in the Event Fund or in the Other Advisory Clients.

3. The Event Fund directly holds 11,533,902 shares of the common stock of UbiquiTel Inc. and, collectively, the Other Advisory Clients directly hold 5,731,976 shares of common stock of UbiquiTel Inc. Each of the Event Fund and the Other Advisory Clients disclaims beneficial ownership of such shares except to the extent of its or their pecuniary interest therein.

4. The Event Fund purchased 32,424 shares of common stock and, collectively, the Other Advisory Clients purchased 14,229 shares of common stock.

5. The Event Fund sold 16,286 shares of common stock and, collectively, the Other Advisory Clients sold 7,148 shares of common stock.

6. The Event Fund purchased 236,468 shares of common stock and, collectively, the Other Advisory Clients purchased 103,774 shares of common stock.

	Thomas Wagner, Chief Compliance Officer	06/28/2006
	** Signature of Reporting Person	Date
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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