secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (ANGX)
CIK:        0001865200
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001104659-23-069445
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Southport Acquisition reports ~$198M in redemptions ahead of extension vote
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- Holders of 18,849,935 shares exercised redemption at ~$10.49/share, aggregate ~$198M.
- Special meeting on June 9 to vote on extending deadline to Sept 14, 2023 (or March 2024).
- Non-redemption agreements cover 4M shares in exchange for up to 1,499,996 sponsor Class B shares.
- Third parties purchased 2,571,922 Class A shares in open market at prices ≤ redemption price.
- Redemption requests deadline was 5:00 p.m. ET on June 7, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865200/000110465923069445/0001104659-23-069445-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865200/000110465923069445/tm2318186d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-069445

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer