Angel Studios Inc. has officially gone public.
The Utah-based entertainment distribution company behind the films “The King of Kings” and “Sound of Freedom” made its debut on the New York Stock Exchange under the ticker ANGX on Thursday.
Angel went public via a business merger with Southport Acquisition Corporation, a special purpose acquisition company, or SPAC.
Following the SPAC merger, the combined entity is valued at an estimated $1.6 billion on a pro-forma enterprise basis. Shares of the company rose 8% to $13.
Neal Harmon, the company’s co-founder, chairman and CEO, will remain at the helm following the merger. His brothers, Jordan Harmon, serving as president, and Jeffrey Harmon, chief content officer, will also maintain their roles.
“This marks a huge milestone for Angel and our 1.5 million-plus (Angel) Guild members worldwide,” the CEO said in a statement….
