Angel Studios discloses related-party transactions with new director Benton Crane including acquisition term sheets

Angel Studios, Inc.

Black Autumn Show acquisition term sheet: up to $28.2M in stock; payments of $0.2M in 2024 and $4.9M in 9mo 2025.
Tuttle Twins: 8% interest for $1.70M in 2022; ongoing buyout negotiations with $9.50M max commitment; funded $4.4M in 2024, $2.8M in 9mo 2025.
Tuttle Twins revenues: $3.30M in 2024 and $2.20M in 9mo 2025.
Harmon Brothers acquisition term sheet: up to $6.3M in stock; marketing payments of $0.5M in 2024, $0.4M in 9mo 2025.
No reportable transactions with new director Katie Liljenquist.

item 5.02

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