Southport Acquisition Corp. to Acquire 07 Trade & Services
Ticker: ANGX · Form: 8-K · Filed: Jan 15, 2025 · CIK: 1865200
| Field | Detail |
|---|---|
| Company | Southport Acquisition CORP (ANGX) |
| Form Type | 8-K |
| Filed Date | Jan 15, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, spac
TL;DR
SPRT is buying 07 Trade & Services, deal details TBD.
AI Summary
Southport Acquisition Corp. announced on January 15, 2025, that it has entered into a definitive agreement to acquire 07 Trade & Services. The filing does not disclose the financial terms of the acquisition.
Why It Matters
This acquisition could significantly alter Southport Acquisition Corp.'s business focus and market position within the motion picture and video tape production industry.
Risk Assessment
Risk Level: medium — The acquisition of a private company by a SPAC often carries inherent risks related to valuation, integration, and future performance not yet fully disclosed.
Key Players & Entities
- Southport Acquisition Corp. (company) — Registrant and acquirer
- 07 Trade & Services (company) — Target company
- January 15, 2025 (date) — Date of the reported event
FAQ
What is the specific business of 07 Trade & Services?
The filing identifies 07 Trade & Services under the IRS number 863483780, but does not provide specific details about its operations beyond its inclusion in the motion picture & video tape production industry.
What are the financial terms of the acquisition?
The filing does not disclose the specific dollar amounts or financial terms of the definitive agreement between Southport Acquisition Corp. and 07 Trade & Services.
When is the acquisition expected to close?
The filing does not provide an expected closing date for the acquisition.
What is Southport Acquisition Corp.'s primary business focus?
Southport Acquisition Corp. is a special purpose acquisition company (SPAC) with a Standard Industrial Classification code of SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812].
Where is Southport Acquisition Corp. located?
Southport Acquisition Corp.'s principal business address is listed as 268 Post Road Suite 200 Fairfield, CT 06824.
Filing Stats: 526 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2025-01-15 17:26:14
Key Financial Figures
- $0.0001 — g of one share of Class A common stock, $0.0001 par value, and one-half of one warrant
- $11 — A common stock at an exercise price of $11.50, subject to adjustment PORTW OTC
Filing Documents
- tm2431690d1_8k.htm (8-K) — 31KB
- 0001104659-25-003824.txt ( ) — 251KB
- port-20250115.xsd (EX-101.SCH) — 4KB
- port-20250115_def.xml (EX-101.DEF) — 27KB
- port-20250115_lab.xml (EX-101.LAB) — 37KB
- port-20250115_pre.xml (EX-101.PRE) — 25KB
- tm2431690d1_8k_htm.xml (XML) — 7KB
01 Other Events
Item 8.01 Other Events. On January 15, 2025, certain third-party investors in Southport Acquisition Corporation (the "Company") transferred an aggregate of 262,502 shares of Class B common stock, par value $0.0001 per share, of the Company ("Class B Common Stock"), which had previously been transferred by Southport Acquisition Sponsor LLC (the "Sponsor") to such investors, back to the Sponsor for no additional consideration in connection with the liquidation of certain of such investors' investment vehicles. Accordingly, as of January 15, 2025, the Sponsor holds 4,200,000 shares of Class A common stock, par value $0.0001 per share, of the Company, 312,506 shares of Class B Common Stock and 11,700,000 private placement warrants of the Company. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Southport Acquisition Corporation Date: January 15, 2025 By: /s/ Jeb Spencer Name: Jeb Spencer Title: Chief Executive Officer