Angel Studios amends credit facility, sets $30M liquidity and $30M equity proceeds requirement

Angel Studios, Inc.

Ratification and First Amendment to Loan and Security Agreement effective September 9, 2025, filed February 17, 2026.
Revised required Liquidity Level to $30,000,000 under the amended credit facility.
Company must provide evidence of $30,000,000 net cash proceeds from equity issuance between January 1, 2025 and June 30, 2026.
Amendment relates to business combination on September 10, 2025 and joint venture for animated film 'DAVID'.
Angel Studios assumed all liabilities of Original Borrower under the Credit Facility.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Angel Studios, Inc. amended Ratification and First Amendment to Loan and Security Agreement with Trinity Capital Inc., as agent for the lenders (effective 2025-09-09).

Action: amendment
Agreement: credit facility
Counterparty: Trinity Capital Inc., as agent for the lenders
Effective: 2025-09-09

Exact text from the filing

On February 17, 2026, Angel Studios, Inc., a Delaware corporation (the “Company”), and certain of the Company’s subsidiaries entered into a Ratification and First Amendment to Loan and Security Agreement, effective as of September 9, 2025 (the “First Credit Facility Amendment”), which amended the Loan and Security Agreement (the “Credit Facility”), dated as of September 8, 2025, by and among Angel Studios Legacy, Inc. (f/k/a Angel Studios, Inc.), a Delaware corporation (the “Original Borrower”), and certain of the Original Borrower’s subsidiaries, certain lenders thereunder, and Trinity Capital Inc., a Maryland corporation, as agent for the lenders (“Administrative Agent”).

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Angel Studios, Inc. filing history →

Source: SEC EDGAR

accession 0001865200-26-000016

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