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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. 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. filed an amendment to its prior report about recent board appointments to provide additional related-party disclosure. The company’s Board had elected Katie Liljenquist and Benton Crane as directors effective October 22, 2025. On November 6, 2025, the company determined there are currently no transactions with Ms. Liljenquist that require disclosure under Item 404(a) of Regulation S-K. The company also determined that certain transactions involving Mr. Crane are required to be disclosed under that same related-party disclosure rule.
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.
Angel Studios (ANGX) expanded its Board from five to seven directors and elected Katie Liljenquist and Benton Crane, effective October 22, 2025. They will serve until the next annual meeting or until successors are elected and qualified. The Board has not yet determined their independence or any transactions requiring Item 404(a) disclosure. The company noted Mr. Crane is a cousin of the CEO/President/Chief Content Officer and a founder of Legacy Angel; Ms. Liljenquist previously served on Legacy Angel’s board.
Non-employee director compensation was approved: an annual cash retainer of $50,000, plus $15,000 for the Audit Committee Chair. Each non-employee director will also receive RSUs with an aggregate grant-date fair value of approximately $75,000, effective October 23, 2025, vesting in equal quarterly installments over one year under the 2025 Long-Term Incentive Plan.
Angel Studios (ANGX) reported a director’s equity grant on Form 4. On October 23, 2025, the reporting person acquired 10,593 Restricted Stock Units (RSUs) under the company’s 2025 Long‑Term Incentive Plan. The RSUs vest in substantially equal quarterly increments over a one‑year period beginning October 23, 2025, and each vested RSU converts into one share of common stock. Following the grant, the reporting person beneficially owned 10,593 derivative securities.
Angel Studios (ANGX) reported a director equity award on a Form 4. The filing shows a grant of 10,593 Restricted Stock Units (RSUs) effective October 23, 2025 under the company’s 2025 Long‑Term Incentive Plan.
The RSUs vest in substantially equal quarterly increments over one year beginning October 23, 2025. Upon each vesting date, each vested RSU automatically converts into one share of common stock. The derivative security is reported as Direct (D) ownership.
Angel Studios (ANGX) reported an insider equity grant on a Form 4. A company director received 10,593 restricted stock units (RSUs) effective October 23, 2025 under the company’s 2025 Long-Term Incentive Plan.
The RSUs vest in substantially equal quarterly increments over one year 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 (RSUs) were beneficially owned directly.
Angel Studios, Inc. (ANGX) reported a director equity grant. A Form 4 shows an award of 10,593 Restricted Stock Units on October 23, 2025, reported with transaction code A. The grant was made under the company’s 2025 Long‑Term Incentive Plan.
The RSUs vest in substantially equal quarterly increments over one year 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, held in direct ownership form.