Augustin was waived by the Toronto Raptors earlier this week, and will be expected to help fill the void left by Derrick Rose after his injury.
"I'm excited, man," Augustin said, according to ESPN.
"Just going to come in and bring energy. Play hard, do whatever Coach and the teams needs me to do to help us win."
The 26-year-old is a career 40% shooter but had been shooting just 29.2% from the field during his stint with the Raptors so far this season.