Provo, UT—April 14, 2025

Angel Studios—known for its tech-powered platform enabling audiences to fund, produce, and distribute films—scored big over the weekend with The King of Kings, pulling in an estimated $19.4 million. The animated biblical epic landed the No. 2 spot at the domestic box office, second only to Warner Bros.' Minecraft: The Movie.

The King of Kings screened on over 3,200 theaters nationwide and tells the story of a young boy who finds faith through his father’s retelling of the life of Jesus. The film resonated strongly with audiences, earning an A+ CinemaScore and a 97% audience rating on Rotten Tomatoes’ PopcornMeter.

Brandon Purdie, Global Head of Theatrical Distribution & Brand Development, Angel Studios

“The Angel Guild picks winners. Angel’s revolutionary idea is simple: know your audience—and listen to them,” said Brandon Purdie, Angel’s Global Head of Theatrical Distribution & Brand Development. “The King of Kings is one of only 128 films to ever receive an A+ CinemaScore, and only the fifth non-Disney/Pixar animated film to do so. Families are clearly eager for high-quality, faith-affirming content.”

Animated features continue to dominate the box office in 2024, with four of the year’s top ten films falling in the category. Faith-based animation is proving particularly viable, with The King of Kings surpassing the opening weekends of The Prince of Egypt ($14.5M), The Star ($9.8M), and Jonah: A VeggieTales Movie ($6.2M), according to The Numbers.

Film Synopsis:
Inspired by Charles Dickens’ storytelling style, The King of Kings follows a father narrating the life of Jesus to his son as a bedtime story. The tale unfolds through the boy’s imagination, taking him alongside Christ through miracles, suffering, and sacrifice—ultimately transforming both their lives.

For more information, visit:  https://www.angel.com/tickets/king-of-kings

Angel is a values-based technology company distributing stories that amplify light to mainstream audiences. Through the Angel Guild, over 1,000,000 paying members from more than 170 different countries help decide what film and television projects the studio will market and distribute. Angel is behind the global box office hit, SOUND OF FREEDOM, which has earned $250 million in theatrical box office.

Learn more at Angel.com.

Additional Information and Where to Find It

In connection with the proposed business combination transaction between Southport Acquisition Corporation (“Southport”) and Angel Studios, Southport filed a registration statement on Form S-4 (as it may be amended, the “Registration Statement”) with the Securities and Exchange Commission (“SEC”) on November 12, 2024, which includes a preliminary prospectus and joint proxy statement of Southport and Angel Studios, referred to as a joint proxy statement/prospectus. The Registration Statement has not yet become effective. When available, a final joint proxy statement/prospectus will be sent to all Southport and Angel Studios stockholders.

Southport and Angel Studios will also file other documents regarding the proposed transaction with the SEC. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

Investors and security holders will be able to obtain free copies of the Registration Statement, the joint proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Southport and Angel Studios (when available) through the website maintained by the SEC at http://www.sec.gov. The documents filed by Southport with the SEC also may be obtained free of charge upon written request to 8 Bolling Place, Greenwich, CT 06830.

The documents filed by Angel Studios with the SEC also may be obtained free of charge on Angel Studios’ website at https://www.angel.com/legal/sec-filings or upon written request to 295 W Center Street, Provo, UT 84601. 

Participants in Solicitation

Southport, Angel Studios and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction between Southport and Angel Studios are contained in the joint proxy statement/prospectus. You may obtain free copies of these documents as described in the preceding paragraph. 

No Offer or Solicitation

This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom. 

Cautionary Statement Regarding Forward-Looking Statements

This communication may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Angel Studios and Southport. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the price of the combined company’s securities, (ii) the risk that the proposed transaction may not be completed by Southport’s business combination deadline and the potential failure to obtain an extension of the business combination deadline, (iii) the failure to satisfy the conditions to the consummation of the proposed transaction, including the adoption of the Merger Agreement by the stockholders of Southport and Angel Studios, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the effect of the announcement or pendency of the transaction on Angel Studios’ business relationships, operating results, and business generally, (vii) risks that the proposed transaction disrupts current plans and operations of Angel Studios or diverts management’s attention from Angel Studios’ ongoing business operations and potential difficulties in Angel Studios employee retention as a result of the announcement and consummation of the proposed transaction, (viii) the outcome of any legal proceedings that may be instituted against Angel Studios or against Southport related to the Merger Agreement or the proposed transaction, (ix) the ability to list the combined company’s securities on a national securities exchange in connection with the transaction, (x) the price of Southport’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Southport plans to operate or Angel Studios operates, variations in operating performance across competitors, changes in laws and regulations affecting Southport’s or Angel Studios’ business, and changes in the combined capital structure, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, (xii) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees, (xiii) the evolution of the markets in which Angel Studios competes, (xiv) the costs related to the proposed transaction, (xv) Angel Studios’ expectations regarding its market opportunities, (xvi) risks related to domestic and international political and macroeconomic uncertainty, including the Russia-Ukraine conflict and the war in the Middle East, and (xvii) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which Angel Studios operates.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Southport’s and Angel Studios’ annual reports on Form 10-K and Form 10, respectively, and quarterly reports on Form 10-Q, the Registration Statement on Form S-4, including those under “Risk Factors” therein, and other documents filed by Southport and Angel Studios from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Angel Studios and Southport assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Angel Studios nor Southport gives any assurance that either Angel Studios or Southport, or the combined company, will achieve its expectations.

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