PORT SEC filings, in plain English
Everything Southport Acquisition Corp has filed with the SEC that we hold — 40 filings, newest first, 6 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Filed under Southport Acquisition Corp's SPAC record, but the registrant is Angel Studios, Inc. (NYSE: ANGX) — the post-combination company, not a blank-cheque SPAC. This is Amendment No. 1 to Form S-4 (Registration No. 333-297140), preliminary and subject to completion dated August 13, 2026. It carries an explanatory note, but that note describes the structure rather than identifying what changed from the original S-4: Angel Studios has entered into two separate Agreements and Plans of Merger to acquire all equity interests of Tuttle Twins Show, LLC and Toothy Cow Productions, LLC. Why it matters: This is a registered stock-and-cash acquisition by an already-public operating company, not a de-SPAC, so there is no trust, no redemption right and no SPAC deadline in it. The 10,156,413 registered Class A shares are the ceiling on the equity issued across both mergers. The consideration is defined by formula (Adjusted Percentage Interest, per-unit cash and stock amounts) and the per-unit dollar figures are not stated in this portion, so no exchange ratio should be published from this document alone.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-10-31 · unchanged
The clause …“for TTS an updated draft of the TTS A&R Merger Agreement further updating the Outside Date to October 31, 2026. After consideration by the TTS Managers, including input by TTS management and legal counsel, TTS has agreed principal to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Angel Studios, Inc. reported second-quarter revenues of $111,705,930 against $87,641,416 a year earlier and six-month revenues of $226,810,996 against $135,082,056. Net loss widened to $23,794,026 for the quarter from $15,706,671 but narrowed to $37,550,082 for the six months from $53,036,803. Cash and cash equivalents were $48,036,965 against $44,083,233 at December 31, 2025, total assets $235,062,489, and the accumulated deficit approximately $279.1 million. Digital assets fell to $17,747,262 from $26,527,560. Why it matters: Revenue rose 68% for the half while the half-year loss narrowed, and operating activities provided approximately $18.8 million of cash. The statements are prepared on a going-concern basis with no substantial-doubt language, which separates this de-SPAC from most of the cohort. Two things to watch: cost of revenues more than doubled to $95.8 million for the half, outpacing revenue growth, and the digital-asset holding fell $8.8 million in six months, so a real slice of the balance sheet moves with crypto prices.
What changed: Exhibit 99.1 to an 8-K of Angel (NYSE: ANGX): the August 4, 2026 press release reporting Q2 2026 results. Angel Guild paying membership grew from 2.22 million to 2.61 million during the quarter, up 17.6% sequentially and 99.2% from 1.31 million a year earlier, and surpassed 2.85 million as of July 31, 2026, with figures now published in real time at angel.com/impact. Guild revenue rose 93.8% to $90.7 million, about 81.2% of total revenue, while total revenue rose 27.5% to $111.7 million. Why it matters: Membership doubled and marketing efficiency improved sharply, yet the net loss widened — operating cash flow turned positive on subscription timing rather than on profitability. The full-year Adjusted EBITDA loss cap of $25 million implies a materially smaller loss in the second half than the $11.7 million recorded this quarter.
What changed: Angel Studios, Inc., successor to Southport Acquisition Corp, entered amended and restated merger agreements on June 29, 2026 for both of its pending acquisitions, Tuttle Twins Show, LLC and Toothy Cow Productions, LLC. Both outside dates move to October 31, 2026. The TTS revisions drop the showrunner agreement for Daniel Harmon as a closing condition; the TCP revisions replace an intellectual-property assignment confirmation with a new licence agreement and change the merger structure so the merger sub survives. Why it matters: Both are related-party transactions and the filing quantifies the exposure: as of June 23, 2026 company-related parties owned 41.6% of the units of TTS and 2.4% of TCP, and officers and directors including the chief executive will receive Class A shares as consideration. The company has provided $11.7 million of operational funding to TTS, which converts into TTS preferred units at $1.16 per unit if the acquisition does not close.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2026-10-31
SpacBrain reads this as the agreement may be terminated from 2026-10-31.
The clause …“A&R TCP Merger Agreement include, but are not limited to, (i) extending the Outside Date to October 31, 2026, (ii) replacing as a closing condition the previously required execution of a confirmation of an intellectual property”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Filed under Southport Acquisition Corp's SPAC record; the registrant is Angel Studios, Inc. (Delaware), its post-combination successor. This is the original Form S-4 — the cover reads 'Registration No. 333-' with no number assigned — preliminary and subject to completion dated June 29, 2026, a prospectus for 10,154,676 shares of Class A common stock. Its explanatory note describes structure rather than change: Angel Studios entered into separate Agreements and Plans of Merger dated November 14, 2025 to acquire all equity interests of Tuttle Twins Show, LLC and Toothy Cow Productions, LLC. Why it matters: This is the baseline version of the Angel Studios registration and the number that anchors it is the 10,154,676 registered Class A shares — the ceiling on equity issued across both mergers. Because the registrant is an operating NYSE-listed company rather than a blank-cheque vehicle, there is no trust account, no redemption right and no business-combination deadline attached to this filing.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-10-31 · unchanged
The clause …“for TTS an updated draft of the TTS A&R Merger Agreement further updating the Outside Date to October 31, 2026. After consideration by the TTS Managers, including input by TTS management and legal counsel, TTS has agreed principal to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Angel Studios, Inc., the successor to Southport Acquisition Corp, called its 2026 annual meeting for Thursday, May 21, 2026 at 11:00 am Mountain time, virtual with no physical location, record date March 23, 2026. Beneficial ownership is based on 112,643,299 shares of Class A Common Stock and 57,194,072 shares of Class B Common Stock outstanding at that date. The business combination closed under an Agreement and Plan of Merger dated September 11, 2024 among the company, Sigma Merger Sub, Inc. and Angel Studios Legacy, Inc. Why it matters: Class B holders control 57.2 million shares against a 112.6 million Class A float, roughly a third of the combined count, so founder-side voting power is significant without being absolute. The Southport trust was released at the September 2024 closing, leaving no redemption right or floor - the equity now depends entirely on the studio business, and this is its first full annual governance cycle as a public company.
What changed vs 2024-10-02going concern APPEAREDgoing-concern doubt, combination deadline1 moved · 1 with no prior record of ours
- Going-concern doubt
- not statedstated
- Combination deadline
- 2025-09-30not matched in this filing
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“such audit report contained an explanatory paragraph in which BDO expressed substantial doubt as to Southport’s ability to continue as a going concern because Southport does not have sufficient cash and working capital to sustain its”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2025-04-15going concern RESOLVED
going-concern doubt, trust account, combination deadline +31 moved · 5 with no prior record of ours
- Going-concern doubt
- statednot stated
- Trust account
- $197.7Mnot matched in this filing
- Combination deadline
- 2025-09-30not matched in this filing
- Sponsor loans outstanding
- $439Knot matched in this filing
- Mandate language
- We intend to focus on a target business that gives our inves…not matched in this filing
- Redeemable shares
- 23.0Mnot matched in this filing
SpacBrain reads this as the substantial-doubt sentence is in the previous filing and not in this one.
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.