Argus Capital priced its IPO of 26.5 million units at $10 each. The SPAC initially registered in July to offer 30 million units, then lowered the planned offering last month to 25 million units before upsizing to the current offering.
Units are expected to begin trading today on the Nasdaq under ARGUU. Each consists of one share and one-half of one redeemable warrant. Once the securities begin trading separately, shares and warrants will list under ARGU and ARGUW.
The offering is expected to close Sept. 24.
Argus intends to complete a business transaction with a company in the tech-driven media industry.
The company’s management team is led by former CBS executive Joseph R. Ianniello, chairman and CEO.
Goldman Sachs and Morgan Stanley are joint book-running managers for the offering. The underwriters have an over-allotment option to purchase up to 3.975 million units at the IPO price. Read more.
