Angel Studios Inc SEC Filings

Angel Studios, Inc. (ANGX) reported an equity compensation grant to its Chief Legal Officer on a Form 4. On November 18, 2025, the officer received 140,457 Restricted Stock Units (RSUs) and 58,482 Performance Stock Units (PSUs) under the company’s 2025 Long-Term Incentive Plan.

The RSUs become effective on November 18, 2025 and vest one-third on November 18, 2026, with the remaining two-thirds vesting in eight quarterly installments after that anniversary. Settlement of RSUs occurs on the second trading day following the company’s public release of quarterly earnings in the applicable quarter. The PSUs, also effective November 18, 2025, vest in 10 equal tranches, each tied to increasing stock price milestones.

Angel Studios, Inc. (ANGX)169,142 Restricted Stock Units (RSUs) and 70,695 Performance Stock Units (PSUs) under the company’s 2025 Long-Term Incentive Plan.

The RSUs become effective November 18, 2025 and vest one-third at the close of business on November 18, 2026, with the remaining two-thirds vesting in eight quarterly installments. Settlement of vested RSUs occurs on the second trading day after the company’s public release of quarterly earnings for the applicable quarter.

The PSUs are classified as “Full Value Awards” under the 2025 Long-Term Incentive Plan. They were effective November 18, 2025 and vest in 10 equal tranches, with each tranche vesting only when specified, increasing stock price milestones are achieved. The PSUs are shown with an expiration date of November 18, 2035.

Angel Studios, Inc. (ANGX) reported an equity award for its Chief Content Officer on a Form 4. On November 18, 2025, the officer received 70,695 Performance Stock Units (PSUs) and 245,916 Restricted Stock Units (RSUs) under the company’s 2025 Long-Term Incentive Plan.

The PSUs vest in 10 equal tranches, with each tranche tied to a series of increasing stock price milestones, meaning vesting depends on future share price performance. The RSUs vest one-third on November 18, 2026, with the remaining two-thirds vesting in eight quarterly installments after that date, and each vested portion settles on the second trading day after the company publicly releases its quarterly earnings for the applicable quarter.

Angel Studios, Inc. has filed a Form S-8 to register 17,318,680 shares of its Class A Common Stock for issuance under the Angel Studios, Inc. 2025 Long-Term Incentive Plan. These shares may be issued through the grant, exercise, or settlement of awards made pursuant to the plan, with additional shares covered if adjustments are required under the plan’s terms. The company is filing as a non-accelerated filer and an emerging growth company. The filing also describes Delaware-law based limitations on director and officer liability, broad indemnification rights, and related insurance intended to help attract and retain qualified leadership.

Angel Studios, Inc. filed an amended Form 8-K (8-K/A) to furnish a revised press release about its planned acquisition of three series: Tuttle Twins, Homestead, and The Wingfeather Saga.

The revision clarifies the status of the transactions and corrects the description of purchase consideration to be paid upon closing. The information is provided under Item 7.01 (Regulation FD) and is being furnished, not filed. No other changes to the original report were made.

Angel Studios (ANGX) furnished an update stating it issued a press release announcing the acquisition of three series: Tuttle Twins, Homestead, and The Wingfeather Saga.

The disclosure was provided under Item 7.01 and the press release is attached as Exhibit 99.1. The information is being furnished, not filed, under the Exchange Act.

Angel Studios, Inc. filed a Form S-3 shelf registration to offer, from time to time, up to $400,000,000 of securities, including common stock, preferred stock, debt securities, and warrants. Sales may occur in one or more offerings via underwriters, agents, dealers, directly to purchasers, or “at the market,” as described in the plan of distribution.

The company states it will use any net proceeds for general corporate purposes. Its common stock trades on the NYSE under ANGX; the last reported sale price was $5.52 per share on November 11, 2025. Shares outstanding were 110,816,283 Class A and 57,814,539 Class B as of November 11, 2025; this is a baseline figure, not the amount being offered.

Angel Studios qualifies as an emerging growth company and maintains a dual‑class structure with one vote per Class A share and ten votes per Class B share.

Angel Studios, Inc. filed its Q3 2025 10‑Q, highlighting rapid top-line growth alongside continued losses and a completed reverse recapitalization. Revenue reached $76.5 million for the quarter, up from $20.1 million a year ago, driven mainly by Angel Guild memberships and content licensing. The quarter’s operating loss was $38.1 million, with a net loss of $38.6 million. For the first nine months, revenue totaled $211.6 million and net loss was $91.9 million.

Cash and cash equivalents rose to $63.3 million as of September 30, 2025, aided by equity raises and new debt. The company reported $34.5 million in digital assets (303.1 bitcoin) under fair value accounting, recording a Q3 net gain of $2.1 million. Deferred revenue stood at $50.7 million, including $49.7 million tied to Angel Guild memberships.

Angel completed a business combination on September 10, 2025, accounted for as a reverse recapitalization. New financing included a $40.0 million first tranche of a term loan facility (up to $100.0 million) and a $5.0 million convertible note, alongside conversion of August 2025 notes into 973,002 Class A shares.

Angel Studios, Inc. furnished a Form 8-K announcing that it issued a press release with financial results and operational highlights for the quarter ended September 30, 2025.

The press release is included as Exhibit 99.1. The information under Item 2.02, including Exhibit 99.1, is furnished and not filed and is not subject to Section 18 of the Exchange Act, nor incorporated by reference into other filings except as expressly set forth.