secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (—)
CIK:        0001671941
Form:       8-K
Filed at:   2025-08-15T23:59:59+00:00
Accession:  0001104659-25-079289
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Angel Studios issues $7M convertible notes at 16% ahead of planned merger with Southport
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- Aggregate principal amount of $7M in two subordinated convertible notes; 16% interest compounded monthly.
- Conversion price $39/share into Class C Common Stock; automatic conversion upon close of merger with Southport Acquisition Corp.
- Maturity date December 31, 2025; proceeds used for marketing, merger expenses, and transaction costs.
- Notes unregistered, sold under Section 4(a)(2) and Regulation D; subject to transfer restrictions.
- Company authorized 165,000 shares of Class C Common Stock reserved for conversion of notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1671941/000110465925079289/0001104659-25-079289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1671941/000110465925079289/tm2523644d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-079289

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