Former CBS Execs’ Spac to Raise $265 Million Through IPO

Former CBS Execs’ Spac to Raise $265 Million Through IPO
Argus Capital Corp., the Spac run by former CBS executives Joe Ianniello and Marc DeBevoise, has set its IPO pricing. Offering 26,500,000 units to the public at $10 apiece, Argus aims to raise $265 million to acquire businesses in the “tech-driven media landscape.”

Starting Wednesday, the special-purpose acquisition company’s IPO units are being listed on the Nasdaq under Arguu. The initial public offering is expected to close tomorrow. Its Class A common stock is expected to trade under Argu. (Redeemable warrants will trade under Arguw.)

“Argus’ business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses,” according to the mission statement outlined in the IPO’s press release. “While Argus may pursue an initial business combination opportunity in any industry or sector, it intends to identify and complete a business transaction with a company in the tech-driven media industry.
See full article at The Wrap »

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