Angel Studios establishes $150 million at-the-market equity offering program

Angel Studios Inc. (NYSE: ANGX) entered into an equity distribution agreement on December 5 with four sales agents to establish an at-the-market equity offering program worth up to $150 million.

The sales agents include Oppenheimer & Co. Inc., TCBI Securities Inc., Maxim Group LLC, and Roth Capital Partners LLC. Under the agreement, the company may sell shares of its Class A common stock from time to time through these agents.

The stock sales will be conducted under the company's shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission on November 13 and declared effective on December 4. The sales may include privately negotiated transactions and block transactions, as defined under Securities Act Rule 415(a)(4).

The sales agents will use commercially reasonable efforts to sell the common stock based on instructions from Angel Studios, including any price, time, size limits, or other parameters the company may impose. The offering allows the Delaware-incorporated company to raise capital by selling shares directly into the market at prevailing prices.

Angel Studios filed a prospectus supplement dated December 5 with the SEC in connection with the at-the-market offering program.

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