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.

item 1.01

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accession 0001865200-26-000016

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