Angel Studios Inc SEC Filings

Angel Studios entered a joint venture and completed an asset purchase agreement on October 7, 2025.

The company and 2521 Entertainment, LLC formed a joint venture through Giant Slayer Media LLC under a binding term sheet that became effective when an Asset Purchase Agreement was executed on October 7, 2025. Under the Asset Purchase Agreement, the JV (Giant Slayer Media) will acquire specified purchased assets for an aggregate cash purchase price of $77,917,158.92. The term sheet remains in effect until execution of a definitive LLCA and a Distribution Agreement or until the JV partners mutually terminate it.

Per the disclosed terms, Giant Slayer Media will own the purchased assets and all derivative rights (including sequels, prequels, spinoffs and other works) will vest automatically in Giant Slayer Media. The company or its affiliate is expected to act as distributor under a Distribution Agreement that will set payment, default and guaranty terms, while the LLCA will govern management and distribution of proceeds within the JV.

Prospectus amendment highlights business model, governance and registration detail for the company whose Class A common stock trades on the NYSE as "ANGX." The company describes three primary consumer-facing revenue streams: Angel Guild membership fees (two tiers: Basic and Premium, with Premium including two complimentary theatrical tickets and merchandise discounts), theatrical distribution (receiving a percentage of box office receipts, sometimes via a distributor), and content licensing (licensing films and TV to third-party distributors and pursuing derivative revenue opportunities). It also lists other revenue from merchandise, DVD sales and wholesale/online store sales. The filing notes emerging-growth-company exemptions that reduce required disclosures, including limited audited financial statements and exemptions under Sarbanes-Oxley and PCAOB critical-audit-matters reporting. A list of selling securityholders is included with statements that, unless noted, they have no material relationship with the company in the past three years. The prospectus shows certain estimated offering expenses: printing $45,000, legal $100,000, accounting $20,000, and registrar/transfer agent $25,000.

Insider transaction reported on Form 4 for Angel Studios, Inc. (ANGX). The report shows that Seth Taylor, listed as Chief Experience Officer and director/officer, had a transaction dated 09/11/2025 involving Class A common stock. The filing records a disposition of 4,505 shares at a reported price of $17.54 per share. The Form 4 was signed by an attorney-in-fact on 09/22/2025. No derivative transactions or additional context are provided in the filing.

Form 3 filing for Angel Studios, Inc. (ANGX) reports initial beneficial ownership by Seth Taylor, Chief Experience Officer. He directly owns 4,494 shares of Class A common stock and 267 shares of Class B common stock. The filing lists multiple stock options and performance stock units that convert into Class B or Class A shares, with exercise prices ranging from $1.62 to $7.29 and exercisable/vesting dates between 08/03/2031 and 07/17/2035.

Steven I. Sarowitz filed an initial Form 3 disclosing his holdings in Angel Studios, Inc. (ANGX). He reports indirect ownership of 703,970 shares of Class A common stock through 4S Unity Direct, LLC, and indirect rights to purchase 163,322 Class A shares via a warrant exercisable beginning 05/05/2025 with a $6.13 exercise price and expiring 05/01/2027. The Form 3 is signed 09/22/2025 for an event dated 09/10/2025. The filer disclaimers beneficial ownership except for pecuniary interest.

Form 3 filing by Scott Edward Klossner reports initial beneficial ownership in Angel Studios, Inc. (ANGX). The filing shows 80,256 Class A shares underlying performance stock units and 267,523 Class B shares underlying stock options following a conversion after the issuer's business combination. The PSUs vest in 10 tranches tied to stock-price milestones; the options vest 25% on June 4, 2026, with the remainder vesting monthly through June 4, 2029.

Robert C. Gay filed an initial Form 3 reporting an indirect ownership interest in Angel Studios, Inc. (symbol ANGX). The report reflects a transaction date of 09/10/2025 and lists Mr. Gay's relationship to the issuer as a Director. He is shown as beneficially owning 205,789 shares of Class A common stock indirectly through KI 2025 Directs, LLC. The filing includes a standard disclaimer that the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest. The form is signed by an attorney-in-fact, Patrick J. Reilly, dated 09/22/2025, and references an Exhibit 24 Power of Attorney.

Paul Ahlstrom, identified as a director of Angel Studios, Inc. (ANGX), reports ownership across multiple classes and option grants. He directly holds 1,950,628 shares of Class A common stock and indirectly holds 3,635,162 Class A shares through Alta Ventures Mexico Fund I, LP and 1,712 Class A plus 1,712 Class B shares through NISI Publishing, LLC. He also has derivative rights totaling 320,957 underlying Class B shares from three option grants, with exercise prices of $2.24 and $6.13; one tranche vests quarterly beginning January 1, 2025.

Harmon Neal filed an initial Form 3 disclosing his beneficial ownership of Angel Studios, Inc. (ANGX). He is reported as both Director and Chief Executive Officer. The filing shows direct ownership of 22,032,683 shares of Class B common stock and direct ownership of 26,495 shares of Class A common stock, plus an indirect interest in 27,849 Class A shares held by an immediate family member in the same household. The Form 3 also lists multiple stock options and performance stock units that convert to Class B or Class A shares with specific exercise prices and vesting structures, including options exercisable between 2027 and 2031 and PSUs that vest based on stock price milestones through 2035.