Angel Studios sinks on deep-discounted $30 mln stock sale

Angel Studios

10/04/2026 14:01

** Entertainment firm Angel Studios' ANGX.N shares down 23.3% premarket to record low $2.20 after $30 mln follow-on priced at steep discount

** Provo, Utah-based firm sells 14.3 mln shares at $2.10

** Offering price is 26.8% discount to stock's last sale on Thurs

** Co plans to use net offering proceeds for general corporate purposes, including capex and working capital

** Roth Capital Partners sole bookrunner

** ANGX has ~169.8 mln shares outstanding for nearly $500 mln market cap at last close

** Through Thurs, stock had shed 38.5% YTD

** 1 analyst rates the stock "strong buy", 5 others rate "buy"; median PT $8, per LSEG data

** Co went public in Sept after completing SPAC merger

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))