Angel Studios forms JV with 2521, acquires DAVID franchise for $77.9M; lawsuit dismissed

Angel Studios, Inc.

Angel (ANGX) and 2521 Entertainment form JV Giant Slayer Media; Angel contributes $33.7M for 42% stake.
JV acquires substantially all assets of the DAVID animated franchise from Slingshot USA for $77.9M cash.
Slingshot lawsuit against Angel Studios Licensing dismissed as part of the transaction.
DAVID theatrical release set for December 19, 2025; Zero A.D. moved to 2026.
Angel CEO calls DAVID 'largest audience-funded film in history'; partnership covers 14 projects.

item 1.01 item 7.01 item 9.01

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