Argus Capital, a new SPAC targeting the tech-driven media landscape, filed an amended S-1 to offer 25 million units at $10 each, down from the 30 million units registered last month.
A unit will still consist of one share of stock and one-third of a redeemable warrant; whole warrants exercisable at $11.50 for a share.
Goldman Sachs and Morgan Stanley are joint book-runners for the offering. The underwriters have an option to purchase up to 3.75 million additional units to cover any over-allotments.
Terms call for founders’ shares to be subject to a two-year lock-up following a merger, with certain exclusions.
Argus is led by Chairman and CEO Joseph Ianniello, who from September 2018 to December 2019 was president and acting CEO of CBS prior to its merger with Viacom.
The SPAC has applied to list on the Nasdaq under ARGUU. Read more.
