secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (—)
CIK:        0001671941
Form:       8-K
Filed at:   2025-05-09T23:59:59+00:00
Accession:  0001104659-25-046781
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Angel Studios enters $5M convertible note agreement with 15% interest and warrant
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- Issued $5M subordinated convertible promissory note bearing 15% annual interest, due May 1, 2027.
- Note convertible into Class C common at $32.76/share; warrant to purchase 30,525 shares at same price also issued.
- Use of proceeds redacted; note issued in unregistered private placement under Regulation D.
- Closing occurred on May 5, 2025; note cannot be prepaid by company.
- Note purchase agreement references planned merger with Southport Acquisition Corporation (SPAC) under BCA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1671941/000110465925046781/0001104659-25-046781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1671941/000110465925046781/tm2514667d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-046781

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