STOCK TITAN

OSN Streaming offers $3.39 per share to acquire Anghami (ANGH) float

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Anghami Inc’s largest shareholder group, including OSN Streaming and related entities, has submitted a preliminary non-binding proposal to acquire all Ordinary Shares they do not already own for $3.39 per share in cash.

The Reporting Persons currently have shared voting and dispositive power over 7,417,345 Ordinary Shares, representing 71.27% of the class. This consists of 6,074,721 Ordinary Shares plus 1,342,624 Ordinary Shares issuable upon exercise of warrants with a strike price of $115 per share. The ownership percentage is calculated against 10,407,432 Ordinary Shares, including 9,064,808 shares outstanding as of December 31, 2025 and the warrant shares held by the Reporting Persons. The proposal is subject to negotiation of definitive agreements and multiple conditions, and either side may modify or withdraw it.

Positive

  • None.

Negative

  • None.

Insights

Controlling shareholder group proposes cash buyout at $3.39 per Anghami share.

The filing shows OSN Streaming and affiliated entities already control 71.27% of Anghami Inc through 7,417,345 Ordinary Shares and warrant shares. They have submitted a preliminary, non-binding proposal to acquire the remaining publicly held Ordinary Shares for $3.39 per share in cash.

This is an expression of interest, not a binding agreement. Funding is expected from OSN Streaming’s shareholders and affiliates, but any equity or debt financing remains subject to negotiation. Neither party is obligated to proceed until definitive agreements are signed.

If accepted and completed, the transaction could lead to a change of control and potential delisting from the Nasdaq Capital Market, as the proposal contemplates possible extraordinary corporate transactions and other structural changes. The filing emphasizes that the proposal may be modified or withdrawn and that there is no assurance the acquisition will be consummated.

Proposed cash price $3.39 per share Preliminary non-binding proposal for remaining Ordinary Shares
Beneficially owned shares 7,417,345 shares Ordinary Shares and warrant shares beneficially owned by Reporting Persons
Ownership percentage 71.27% Percent of Anghami Ordinary Shares class beneficially owned
Ordinary Shares held 6,074,721 shares Ordinary Shares owned of record by OSN Streaming
Warrant shares 1,342,624 shares Ordinary Shares issuable upon exercise of OSN warrants
Warrant exercise price $115 per share Exercise price of OSN Warrant for Ordinary Shares
Total shares for calculation 10,407,432 shares Base used for beneficial ownership percentage
Shares outstanding 9,064,808 shares Ordinary Shares outstanding as of December 31, 2025
beneficially owned financial
"Aggregate amount beneficially owned by each reporting person 7,417,345.00"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
warrants financial
"1,342,624 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
non-binding proposal financial
"OSN Streaming submitted a preliminary non-binding proposal (the "Proposal") to the Issuer's board of directors"
A non-binding proposal is an offer or plan presented by one party that outlines terms they would like to pursue but does not create a legally enforceable obligation. Think of it like a detailed handshake or a draft invitation to negotiate: it signals intent and frames possible outcomes, but either side can walk away or change terms without legal penalty. Investors watch these because they can move a stock’s price by suggesting a possible deal, yet they carry higher uncertainty than formal agreements.
shared voting power financial
"Shared Voting Power 7,417,345.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
dispositive power financial
"Shared Dispositive Power 7,417,345.00"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
Shareholders' Agreement financial
"subject to the terms of the Shareholders' Agreement"
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G0369L200

(CUSIP Number)
Chris Thompson
OSN Building, Dubai Media City
Dubai, C0, -
971 (0) 43 67 7190


Shama Ali
OSN Building, Dubai Media City
Dubai, C0, -
971 (0) 436 77027


OSN Legal
OSN Building, Dubai Media City
Dubai, C0, -
971 (0) 436 77000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
06/24/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 6,074,721 ordinary shares, par value $0.001 per share (the "Ordinary Shares") of Anghami Inc., an exempted company incorporated in the Cayman Islands with limited liability (the "Issuer"), plus (ii) 1,342,624 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. 2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 10,407,432 Ordinary Shares, which includes (i) 9,064,808 Ordinary Shares outstanding as of December 31, 2025, as reported in the Annual Report on Form 20-F filed by the Issuer on April 30, 2026, plus (ii) 1,342,624 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 6,074,721 Ordinary Shares, plus (ii) 1,342,624 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. 2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 10,407,432 Ordinary Shares, which includes (i) 9,064,808 Ordinary Shares outstanding as of December 31, 2025, as reported in the Annual Report on Form 20-F filed by the Issuer on April 30, 2026, plus (ii) 1,342,624 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 6,074,721 Ordinary Shares, plus (ii) 1,342,624 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. 2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 10,407,432 Ordinary Shares, which includes (i) 9,064,808 Ordinary Shares outstanding as of December 31, 2025, as reported in the Annual Report on Form 20-F filed by the Issuer on April 30, 2026, plus (ii) 1,342,624 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 6,074,721 Ordinary Shares, plus (ii) 1,342,624 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. 2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 10,407,432 Ordinary Shares, which includes (i) 9,064,808 Ordinary Shares outstanding as of December 31, 2025, as reported in the Annual Report on Form 20-F filed by the Issuer on April 30, 2026, plus (ii) 1,342,624 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. Each of shared voting power, shared dispositive power and aggregate amount beneficially owned by each reporting person with respect to the Reporting Persons consists of (i) 6,074,721 Ordinary Shares, plus (ii) 1,342,624 Ordinary Shares issuable upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. 2. The calculation of the percentage ownership in this Schedule 13D with respect to the Reporting Persons is based on a total of 10,407,432 Ordinary Shares, which includes (i) 9,064,808 Ordinary Shares outstanding as of December 31, 2025, as reported in the Annual Report on Form 20-F filed by the Issuer on April 30, 2026, plus (ii) 1,342,624 Ordinary Shares upon the exercise of warrants to acquire Ordinary Shares beneficially owned by the Reporting Persons. In accordance with SEC rules governing beneficial ownership, the calculation of the percentage ownership includes warrants and convertible notes held by the Reporting Persons but does not include any other shares issuable upon the exercise of any other outstanding warrants or convertible notes held by other persons.


SCHEDULE 13D


OSN Streaming Limited
Signature:/s/ Meshal Ali
Name/Title:Meshal Ali, Director
Date:06/26/2026
OSN Streaming Holding Limited
Signature:/s/ Meshal Ali
Name/Title:Meshal Ali, Director
Date:06/26/2026
Panther Media Holding Limited
Signature:/s/ Laura Herbin
Name/Title:Laura Herbin, Director
Date:06/26/2026
Panther Media Group Limited
Signature:/s/ Meshal Ali
Name/Title:Meshal Ali, Director
Date:06/26/2026
Kuwait Projects Company (Holding) K.S.C.P
Signature:/s/ Sheikha Dana Naser Sabah Al Ahmad Al Sabah
Name/Title:Sheikha Dana Naser Sabah Al Ahmad Al Sabah, Director
Date:06/26/2026

FAQ

What ownership stake do the reporting persons hold in Anghami (ANGH)?

The reporting group beneficially owns 7,417,345 Ordinary Shares of Anghami, representing 71.27% of the class. This includes 6,074,721 shares plus 1,342,624 shares issuable on warrant exercise, based on 10,407,432 total shares for beneficial ownership calculations.

What price per share was proposed in the Anghami (ANGH) buyout offer?

OSN Streaming’s preliminary proposal offers $3.39 in cash for each Anghami Ordinary Share not already owned by the reporting group. The offer is non-binding and subject to negotiation and execution of definitive agreements and various closing conditions by both parties.

Is the proposed acquisition of Anghami (ANGH) by OSN Streaming binding?

No, the proposal is explicitly described as preliminary and non-binding. Neither OSN Streaming nor Anghami is obligated to complete the transaction, and a binding commitment would arise only upon signing definitive agreements, which may or may not be reached.

How will the proposed Anghami (ANGH) acquisition be financed according to the filing?

The proposal contemplates funding the cash purchase with equity or other financing from OSN Streaming’s shareholders, including the reporting persons and their affiliates. Any equity or debt financing remains subject to negotiation, with no assurance that definitive financing agreements will be completed.

What total share count was used to calculate Anghami (ANGH) beneficial ownership percentages?

The filing uses a total of 10,407,432 Ordinary Shares to compute beneficial ownership percentages. This comprises 9,064,808 shares outstanding as of December 31, 2025, plus 1,342,624 shares issuable upon exercise of warrants held by the reporting persons.