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The SEC filings page for PORTW, tied in recent disclosures to Angel Studios, Inc., provides access to the company’s regulatory reports as filed with the U.S. Securities and Exchange Commission. These filings, primarily on Form 8-K and 8-K/A, describe material agreements, executive compensation arrangements, acquisition announcements, and selected operational milestones.
Current reports on Form 8-K detail several key topics. Under Item 1.01, Angel Studios, Inc. reports an Equity Distribution Agreement that allows at-the-market sales of its Class A common stock pursuant to an effective shelf registration statement on Form S-3 and related prospectus materials. The filing outlines the aggregate offering capacity, the participation of multiple sales agents, commission terms, and references to the full agreement and legal opinion filed as exhibits.
Under Item 5.02, the company discloses Board-approved 2026 compensation arrangements for certain executive officers under a 2025 Long-Term Incentive Plan. These filings explain the structure of restricted stock units (RSUs) and performance-based restricted stock units (PSUs), including multi-year vesting schedules and share price performance conditions. Each RSU or PSU represents the right to receive one share of Class A common stock, subject to the plan and award agreements.
Item 7.01 (Regulation FD Disclosure) filings furnish press releases announcing the planned acquisition of three series—Tuttle Twins, Homestead, and The Wingfeather Saga—and reporting that the company surpassed two million paying Angel Guild members. An 8-K/A amendment clarifies the status of the acquisition transactions and corrects the description of purchase consideration.
On Stock Titan, these filings are updated from EDGAR and paired with AI-powered summaries that explain the purpose and key points of each report. Users can quickly see which items relate to capital raising, compensation, acquisitions, or milestones, and can review exhibits such as agreements, opinions, and press releases referenced in the filings.
Angel Studios, Inc. entered into an Equity Distribution Agreement with Oppenheimer & Co., TCBI Securities (Texas Capital Securities), Maxim Group and Roth Capital Partners, allowing the company to offer and sell from time to time up to $150,000,000 of its Class A common stock through an "at-the-market" equity program. Shares may be sold under an effective shelf registration statement and related prospectus and prospectus supplement.
The sales agents will use commercially reasonable efforts to place the stock, and will receive a commission of up to 3.0% of the gross sales price per share. Angel Studios also agreed to reimburse certain legal fees of the agents, including up to $100,000 for establishing the program and $15,000 on a quarterly basis. The agreement includes customary representations, warranties, indemnification and termination provisions, and explicitly states that it does not itself constitute an offer or sale where that would be unlawful.
Angel Studios, Inc. is launching an “at-the-market” equity program to sell up to $150,000,000 of Class A common stock through several sales agents on the NYSE or in negotiated deals. The company may issue shares from time to time, with Oppenheimer, Texas Capital Securities, Maxim Group and Roth Capital Partners acting as sales agents and earning up to 3.0% commissions on gross proceeds.
Based on an illustrative price of $4.48 per share, this would equal about 33,482,142 new shares, leading to immediate dilution of $3.60 per share for new investors compared with the adjusted net tangible book value. Net proceeds are intended for general corporate purposes, and management retains broad discretion over how the capital is deployed. The company notes that share issuances under this program, and potential resales by existing holders, could put pressure on the stock price and dilute existing ownership.
Angel Studios, Inc. has filed a pre-effective amendment to its registration statement on Form S-3 to register for resale up to 10,042,523 shares of common stock on behalf of existing stockholders. These shares include 1,988,093 shares issued under Regulation D, 6,591,748 shares held by parties to a registration rights agreement and certain note investors (including shares issuable on conversion of convertible notes), and up to 1,462,682 shares issuable upon exercise of warrants held by Trinity. All registered shares may be sold from time to time by the selling securityholders, who will decide the timing and method of any sales.
The company will not receive any proceeds from the resale of these shares, though it could receive cash if the Trinity warrants are exercised. As of November 24, 2025, there were 111,053,974 shares of Class A common stock and 57,579,096 shares of Class B common stock outstanding, and the Class A shares trade on the NYSE under the symbol ANGX. The filing also updates the prospectus to incorporate the company’s quarterly report for the period ended September 30, 2025.
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 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.
Angel Studios, Inc. (ANGX) reported an insider equity grant on Form 4. A director received 10,593 restricted stock units (RSUs) effective October 23, 2025, coded as an acquisition (A) under derivative securities.
The RSUs vest in substantially equal quarterly increments over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU automatically converts into one share of common stock. Following the reported transaction, 10,593 derivative securities were beneficially owned with direct ownership.
Angel Studios (ANGX) filed an initial statement of beneficial ownership (Form 3) for a director, effective 10/23/2025. The filing reports 567,202 shares of Class B common stock beneficially owned with direct ownership. No derivative securities are listed in the filing. The submission includes an Exhibit 24 Power of Attorney authorizing the attorney-in-fact to sign on behalf of the reporting person.
