---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-057165"
form_type: "8-K"
ticker: "ANGX"
cik: "0001865200"
company_name: "Angel Studios, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T14:27:18.998106+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Southport Acquisition restates Q3 2022 cash flow; non-reliance on prior filing

## Summary
- Restates Q3 2022 cash flow statement: reclassifies $990,869 of interest income from operating to investing activities.
- Adds $235,156,272 in sale/purchase of marketable securities to investing cash flows.
- Company concludes that original Q3 2022 financial statements should no longer be relied upon.
- Material weakness in internal control over financial reporting identified; details to follow in 2022 Form 10-K.

## SEC filing metadata
- accession: 0001104659-23-057165
- form_type: 8-K
- ticker: ANGX
- cik: 0001865200
- company_name: Angel Studios, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1865200/000110465923057165/0001104659-23-057165-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865200/000110465923057165/tm2313844d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-057165
- JSON: https://secwatch.observer/filing/0001104659-23-057165.json
- Plain text: https://secwatch.observer/filing/0001104659-23-057165.txt

## Key facts
- Auditor Changes
  Angel Studios, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: after discussion with BDO LLP, the Company’s independent registered public accounting firm, on May 3, 2023, the Company’s management and the audit committee of the Company’s board of directors concluded that the Original Financial Statements should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1865200/000110465923057165/0001104659-23-057165-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.