Southport Acquisition to merge with Angel Studios at $1.6B enterprise value

Angel Studios, Inc.

Definitive merger agreement signed on Sept 11, 2024; combined company valued at $1.6B pro forma enterprise value.
Angel Studios H1 2024 revenue $45M, up from $39M in H1 2023; no minimum cash condition for closing.
Existing Angel Studios stockholders roll 100% equity; CEO Neal Harmon to continue leading combined company.
Transaction expected to close H1 2025; post-merger stock ticker expected to be 'AGSD' on NYSE/Nasdaq.
Angel Studios plans to continue Bitcoin treasury strategy; $10M investment in principle from Off the Chain Capital.

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