Bash script not work properly from rc.local

I try to run the script below from Ubuntu "rc.local" file. The file /home/pi/ramdisk/ESP is created correctly but "while" loop seam to not work.
The same script run from CLI or cron, works properly. Any idea what I am doing wrong?

Code:#!/bin/bash

touch /home/pi/domoticz/ESP.conf
cat /home/pi/domoticz/ESP.conf|sed '/^#/ d' > /home/pi/ramdisk/ESP
[ ! -f /home/pi/ramdisk/domoticz_on ] && exit
case $1 in
reboot_off)
event="reboot_off"
;;
reboot_on)
event="reboot_on"
;;
*)
event="alive"
;;
esac
while read ip
do
wget -q -P /home/pi/ramdisk --delete-after --connect-timeout=2 --tries=5 "http://$ip/control?cmd=event,$event" > /dev/null
done < /home/pi/ramdisk/ESP