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Former CBS And Viacom Executives Form Argus Acquisitions, A $300M SPAC

Former Viaallo Digital. CEO and Joe Canniello Officer Marc DeBevoise has filed with the SEC to set up a special purpose vehicle (SPAC). Argus Capital Corp. plans to raise $ 300 million in an IPO to target private companies in the media, entertainment and sports sectors to merge with, corporate exchange as opposed to a traditional IPO or direct listing.

SPAC, Argus Capital, filed with the SEC on July 22nd and is now going through a review process with the federal regulator responsible for public stocks Regulation.

All suggested SPACs must file a Form S-1 with the SEC.

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When this review process is complete and the SEC has Argus deemed “effective” then they can begin the IPO. Once the IPO is successfully completed, Argus will attempt to find companies in their areas of expertise that they believe are publicly traded companies with good performance.

The SPAC market has been closely monitored by the press, investors and the SEC in recent months and many SPAC IPOs have been delayed , shortened or canceled. Many other SPACs are facing SEC approval but are waiting to go public. The IPOs provide some of the investment funds needed to fund a proposed merger, along with typically a PIPE (private investment in a public entity). Both the IPOs and the PIPEs have become difficult to implement in the SPAC markets in recent months.

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