secwatch.observer — SEC 8-K summary
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Issuer:     Angel Studios, Inc. (—)
CIK:        0001671941
Form:       8-K
Filed at:   2025-09-10T23:59:59+00:00
Accession:  0001104659-25-088826
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Angel Studios secures up to $100M term loan from Trinity Capital; $40M drawn at close
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- $40M funded immediately; three additional $20M tranches available through June 2027 subject to conditions.
- Interest rate at Prime + 6% or 13.5% floor; principal and interest due monthly; maturity October 1, 2030.
- Lenders received warrants for 273,375 shares of Class C Common Stock at $39.00 per share.
- Proceeds used to pay off existing indebtedness and for general working capital and business operations.
- Obligations secured by substantially all assets; loan requires minimum liquidity and other covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1671941/000110465925088826/0001104659-25-088826-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1671941/000110465925088826/tm2525710d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-088826

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