Angel Announces Pricing of $30 Million Public Offering of Common Stock

Key Terms

underwritten public offering financial

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

common stock financial

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

shelf registration statement regulatory

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

form s-3 regulatory

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

prospectus supplement regulatory

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

book-running manager financial

A book-running manager is the lead organizer responsible for coordinating a large financial sale, such as issuing new stocks or bonds. They oversee preparing all necessary documents, setting the sale’s price, and finding buyers, much like a concert promoter arranging a major event. Their role matters to investors because they help ensure the offering is successfully sold at the best possible terms.

co-lead managers financial

Co-lead managers are two or more investment banks that share top responsibility for organizing and running a securities offering, such as a stock or bond sale. Think of them as joint project leaders who coordinate marketing to investors, set price and allocation plans, and oversee the paperwork and timing; their reputation and execution affect how smoothly the deal goes and how attractive the offering appears to investors.

forward-looking statements regulatory

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

PROVO, Utah--(BUSINESS WIRE)-- Angel Studios, Inc. (NYSE: ANGX) (the “Company”), a media and technology company successfully pioneering a first-of-its-kind audience-driven studio model, today announced that it priced its underwritten public offering of 14,300,000 shares of its Class A common stock (the “Common Stock”) at a public offering price of $2.10 per share, for total expected gross proceeds of approximately $30 million, before deducting underwriting discounts and commissions and offering expenses. The Company granted the underwriters a 30-day option to purchase up to an additional 2,145,000 shares of its Common Stock at the public offering price, less the underwriting discounts and commissions. The offering is subject to customary closing conditions and is expected to close on April 13, 2026.

Roth Capital Partners is acting as the sole book-running manager for the offering. Maxim Group LLC and Texas Capital Securities are acting as co-lead managers for the offering. Lake Street Capital Markets, LLC is acting as financial advisor to the Company for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-291514), which was previously filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on December 4, 2025. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. When available, copies of the final prospectus supplement and the accompanying base prospectus may be obtained for free by contacting. Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, or by email at rothecm@roth.com.

The Company plans to use the net proceeds it receives from the offering for general corporate purposes, which may include, among other things, capital expenditures and working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Angel

Angel (NYSE: ANGX) is a media and technology company successfully pioneering a first-of-its-kind audience-driven studio model. Founded by brothers who struggled to find films they could watch with their children, Angel was built on the belief that there was a global audience hungry for values-driven storytelling that amplifies light, celebrates hope, and inspires the moral imagination of viewers. That audience became the Angel Guild, a rapidly growing community of more than 2 million paying members who watch, screen, and vote on which films and television series get produced and distributed in theaters and on the Angel app. With 100 films and more than 30 television series on the platform, Angel has achieved the highest audience satisfaction scores in the industry and the highest average domestic box office per title among all independent studios. It has done so while evolving a new economic model that shares profits more fully with filmmakers.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements about the Company’s expectations regarding the completion of its public offering and the anticipated use of proceeds therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties, including, but not limited to, general economic and market conditions. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports filed with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company gives no assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260409379288/en/

David Shane
Angel
Corporate Communications
Press@angel.com

Luk Janssens
Angel
Investor Relations
InvestorRelations@angel.com

Source: Angel Studios, Inc.