barnyarddog
3 months ago
Angel Studios to Become a Publicly Traded Company via Business Combination with Southport Acquisition Corporation
Mission-Driven Differentiated Media Company Will Continue to Be Led by Co-Founder, Neal Harmon
Attractive Angel Guild Community Has Membership Based Recurring Revenue Model
Angel Studios Revenues of $45.0 Million for the Six Months Ended June 30, 2024, Up from $39.0 Million for the Six Months Ended 2023
Transaction With No Minimum Cash Condition, Closing Expected to be Completed in the First Half of 2025, Seeks to Support Company’s Continued Bitcoin Treasury Strategy
PROVO, Utah and DEL MAR, Calif., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Angel Studios—the studio empowering everyday fans to greenlight development and distribution of movies and TV shows—today announced it has entered into a definitive agreement to become a publicly listed company through a business combination with Southport Acquisition Corporation (OTC: PORT) (“Southport”), a special purpose acquisition company. Upon the closing of the transaction, the combined company’s Class A common stock is expected to be listed on the NYSE or Nasdaq under the ticker symbol “AGSD”.
Angel Studios is led by co-founder and CEO Neal Harmon, who will continue to lead the combined company following the closing of the transaction.
In March 2023, Angel Studios released its first theatrical film, HIS ONLY SON, grossing approximately $13.5 million in the box office. Angel Studio’s following film, SOUND OF FREEDOM, grossed approximately $250.0 million in the box office and became one of the top 10 grossing films in the United States that year.
https://www.otcmarkets.com/stock/PORTW/news/story?e&id=2978388
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