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. “Our model and technology are leading a movement to reshape entertainment, empowering audiences as virtual co-producers.”
He continued, “The Guild selects stories that amplify light and timeless values — curating a powerful library through greenlighting films and shows for theaters, TV, or Angel streaming — and we’re just getting started.”
The company’s mission — to build a “home for stories that amplify light,” or values-based content — remains solid post-merger.
Arthur Van Wagenen, the head of business affairs and the associate general counsel at Angel, says taking the company public offers an opportunity to “expand” its mission and “diversify the types of stories” Angel shares.
“The more support we have from the public and from the fans and moviegoers, the more that light will be diversified, and the brighter it will shine,” Van Wagenen told the Deseret News.
Angel Studios employees, investors and Angel Guild members celebrated the move on Thursday afternoon from their headquarters in Provo, and watched a livestream of Angel executives at the NYSE Closing Bell ceremony in New York City.
“It’s exciting to see the fact that Angel’s going to be on the New York Stock Exchange,” said Brett Vance, a member of the Angel Guild and investor in the company with his wife, Sherri Vance, who both joined the celebration in Provo. “I’m happy to be here for this.”
The Angel Guild’s ongoing role
Post-merger, Angel Studios will continue to rely on its Angel Guild as part of its unique distribution model.
The company’s guild membership is a group of subscribers who get to vote on which projects Angel Studios should produce and distribute. In the last year, the group has grown from 222,000 to approximately 1.5 million members across 180 countries.
Sherri Vance, a member of the guild and an investor in Angel, said taking part in the voting process makes her feel “important,” because “you get a chance to be part of the decision making process.”
Members of the guild are provided with sample of potential films or television shows and get to vote on whether or not they believe Angel should move forward with the project. They can also share comments and enjoy other benefits such as a streaming subscription and opportunities to see Angel movie premieres.
During an appearance on CNBC, Neal Harmon credited Angel’s unique use of the Angel Guild as key to the studio’s recent success. Guild members’ votes on content have proven to be an effective method for selecting projects audiences enjoy.
“The average audience score for an Angel movie is 93%, which is the highest in the industry,” Harmon said.
The guild is also partly responsible for Angel’s recent increase in revenue, Harmon noted. Angel generated $87.4 million during the second quarter of 2025, compared to $15.3 million earned in the second quarter of 2024.
The Utah-based entertainment company has routinely found success creating and distributing family-friendly, faith-heavy cinema such as “Sound of Freedom,” “The King of Kings,” “Cabrini,” “Tuttle Twins,” “Sight” and “The Last Rodeo.”
“Sound of Freedom” debuted theatrically in 2023, raking in nearly $20 million at the domestic box office during its opening weekend.
It earned more than $250 million worldwide during its theatrical run and ended the year as the 10th highest earning film domestically in 2023 — outperforming “Indiana Jones and the Dial of Destiny” and “Mission: Impossible — The Dead Reckoning Part 1."
In March this year, the animated movie about Jesus Christ, “The King of Kings,” broke the record for highest-grossing debut for an animated biblical film, making over $19 million in ticket sales during its domestic debut.
When selecting content to distribute, Angel always considers how the story will impact families, future generations and communities.
“Deep down, we believe movies can change the world,” Van Wagenen said. “The community act of watching an consuming cinema can unify people and bring people together in way that other art forms don’t.”
“We’re committed to that mission of trying to find films and stories that unify people, especially in today’s world that seems so divisive.”
