M&A - Angel Studios, Inc.

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: Update

Accession Number: 000155837025004007

Filing Summary: Angel Studios, Inc. has filed its annual report for the fiscal year ending December 31, 2024. This filing includes critical information about its financial health and operations, emphasizing a proposed business combination. Key factors outlined include a history of net losses, reliance on the content licensing agreement with The Chosen, Inc., and various risks related to theatrical distribution and management. The report highlights that the company remains a smaller reporting company under SEC regulations. Angel Studios has also detailed its stock structure, reporting as of March 17, 2025, that it has multiple classes of common stock outstanding. The report discusses the challenges faced both financially and operationally, reiterating the importance of reputation and market strategy for future success. Additionally, there are disclosures regarding their Bitcoin holdings and how this strategy may affect their financial performance. The document features updates on related party transactions, significant stock issuances, and includes statements regarding the effectiveness of their internal controls of financial reporting.

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