Angel Studios, Inc. Completes Business Combination with Southport Acquisition Corporation
Rhea-AI Summary
Angel Studios (NYSE:ANGX), a media and technology company, has completed its business combination with Southport Acquisition Corporation. The company's shares will begin trading on the NYSE on September 11, 2025, under the ticker symbol "ANGX".
Led by CEO Neal Harmon, Angel Studios operates with a unique model powered by 1.5 million Angel Guild members who act as virtual co-producers, selecting and greenlighting values-based content. The company recently secured a $100 million credit facility from Trinity Capital to expand the Angel Guild and has demonstrated strong growth in membership, revenue, and global audience reach.
Positive
- Successful completion of business combination and NYSE listing, providing increased market visibility and access to capital
- Secured $100 million credit facility from Trinity Capital for expansion
- Strong operational metrics with 1.5 million+ Guild members worldwide
- Demonstrated revenue growth and operational scalability
Negative
- Potential integration challenges transitioning from SPAC to public company
- Increased regulatory and reporting requirements as a public company
- Higher operational costs associated with public company status
Insights
Angel Studios completes SPAC merger, secures $100M facility, and debuts on NYSE as ANGX - significant milestone for growth.
Angel Studios has successfully completed its business combination with Southport Acquisition Corporation, a special purpose acquisition company (SPAC). This transaction represents a significant milestone as Angel transitions from private to public markets, with trading on the New York Stock Exchange under ticker symbol "ANGX" beginning September 11, 2025.
The company simultaneously announced a
Angel's business model is particularly noteworthy - they've built a community of 1.5 million "Angel Guild" members who effectively function as virtual co-producers, helping select and greenlight content aligned with the company's values-based approach. This represents an innovative audience-driven content curation model that differs from traditional studio approaches.
The successful completion of this transaction indicates several important factors: sufficient investor interest to complete the SPAC merger in a challenging market environment, confidence from credit providers as evidenced by the Trinity facility, and validation of Angel's unconventional business model. The company appears well-positioned with both public market access for potential future capital raises and immediate liquidity from the credit line to accelerate growth initiatives focused on expanding their unique Guild membership model.
Angel Studios, Inc. to Trade Under NYSE Ticker Symbol "ANGX"
"This marks a huge milestone for Angel and our 1.5 million-plus Guild members worldwide," said Neal Harmon, co-founder, chairman, and CEO of Angel. "Our model and technology are leading a movement to reshape entertainment, empowering audiences as virtual co-producers. The Guild selects stories that amplify light and timeless values—curating a powerful library through greenlighting films and shows for theaters, TV, or Angel streaming—and we're just getting started."
Angel's public company debut underscores the strong momentum propelling the Company into its next chapter. Through strong growth in Angel Guild membership, growing revenue performance, and an expanding global audience, Angel has demonstrated market demand and operational scalability. With a successful capital raise completed on September 5, 2025, Angel is well-positioned to accelerate innovation, expand values-based storytelling, and deliver long-term shareholder value.
The Company also announced the close of a
Angel is scheduled to ring the NYSE closing bell on September 11, 2025, at 4:00pm ET.
Advisors
Roth Capital Partners and Lake Street are serving as capital markets advisors to Angel. Oppenheimer & Co. is serving as financial and capital markets advisor to Southport. Mayer Brown LLP is acting as legal advisor to Angel, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Southport.
About Angel Studios, Inc.
Angel is a values-based distribution company for stories that amplify light to mainstream audiences. Through the Angel Guild, more than 1,500,000 paying members from more than 180 different countries help decide what film and television projects the studio will market and distribute, and support the filmmakers who create films and series that amplify light. For more information, please visit www.angel.com.
About Southport Acquisition Corporation
Southport is a blank check company formed in
Cautionary Statement Regarding Forward-Looking Statement
This communication may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the business combination between Angel and Southport. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Southport's and Angel's annual reports on Form 10-K, respectively, and quarterly reports on Form 10-Q, the registration statement or Form S-4 filed in connection with the business combination, including those under "Risk Factors" therein, and other documents filed by Southport and Angel from time to time 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 Angel and Southport assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Angel nor Southport gives any assurance that either Angel or Southport, or the combined company, will achieve its expectations.
Investor Relations Contact:
Shannon Devine
MZ Group North America
Angel@mzgroup.us
Media Relations Contact:
Lori Heiselman
Angel Studios Inc.
lori.heiselman@angel.com
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SOURCE Angel Studios, Inc.
FAQ
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