secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (ANGX)
CIK:        0001865200
Form:       8-K
Filed at:   2024-03-21T23:59:59+00:00
Accession:  0001104659-24-037394
Event type: regulatory
Sentiment:  negative
Materiality: 0.70
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NYSE commences delisting proceedings for PORT securities due to sub-$40M market cap
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- NYSE staff determined to delist PORT's Class A common, warrants, and units for failing $40M public float requirement.
- Trading suspended immediately; OTC market expected under symbols PORT, PORT.W, PORT.U starting March 22, 2024.
- Company has right to appeal to NYSE Board committee; intends to seek Nasdaq listing before or with any business combination.
- Company has until December 14, 2024 per extension amendment to complete initial business combination or liquidate trust.
- Liquidation would redeem public shares at trust account per-share cash amount less up to $100,000 dissolution expenses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865200/000110465924037394/0001104659-24-037394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865200/000110465924037394/tm249352d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-037394

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