Argus Capital, a blank check company led by former ViacomCBS/CBS executives targeting media, entertainment, and sports, filed on Thursday with the SEC to raise up to $300 million.
The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Argus Capital would command a market value of $375 million.
The company is led by CEO and Chairman Joseph Ianniello, who spent more than two decades with CBS, most recently serving as CEO of CBS Entertainment Group. Ianniello also served as Acting CEO of CBS prior to its merger with Viacom. He is joined by President and Vice Chairman Marc DeBevoise, who most recently served as CEO of ViacomCBS Digital and Chief Digital Officer of ViacomCBS.
The company plans to leverage management's experience and target the media, entertainment, and sports industry, including "over-the-top" digital streaming, mobile gaming/interactive entertainment, digital media including advertising/marketing technology, health and wellness/lifestyle, live events/experiential consumer-facing technology, and related industries.
Argus Capital was founded in 2021 and plans to list on the Nasdaq under the symbol ARGUU. The company filed confidentially on June 7, 2021. Goldman Sachs and Morgan Stanley are the joint bookrunners on the deal.
