secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (ANGX)
CIK:        0001865200
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001104659-24-105840
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southport Acquisition issues up to $1M promissory note to sponsor; repayment tied to business combination deadline
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- Non-convertible unsecured promissory note up to $1,000,000 issued to sponsor Southport Acquisition Sponsor LLC on Oct 3, 2024.
- Note bears no interest; repayment due on earlier of Dec 14, 2024 (extendable to Sep 30, 2025 if stockholders approve) or business combination consummation.
- If no business combination, note is forgiven unless funds exist outside trust account; payee waives claims against trust account.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865200/000110465924105840/0001104659-24-105840-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865200/000110465924105840/tm2425557d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-105840

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