Private Placement (Form 8-K)

On May 7, 2025, Angel Studios, Inc., a Delaware corporation (the "Company"), sold an aggregate of 3,055 shares of its Class C common stock, par value $0.001 per share (the "Class C Common Stock"), to various purchasers. The price of the Class C Common Stock was $32.76 per share, for a total aggregate purchase price of $100,081.80.

On June 16, 2025, the Company sold an aggregate of 126,432 shares of its Class C Common Stock to various purchasers. The price of the Class C Common Stock was $39.00 per share, for a total aggregate purchase price of $4,930,848.

The issuance of the Class C Common Stock was made in reliance upon exemptions from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D promulgated thereunder. Each of the purchasers is an "accredited investor" as defined in Regulation D, and the sale of the Class C Common Stock was made without general solicitation or advertising. No commissions were paid in connection with the sale of these securities.