SCHEDULE 13G 0002085918 XXXXXXXX LIVE Class A common stock, par value $0.0001 per share 09/10/2025 0001865200 Angel Studios, Inc. 034948109 295 W Center St. Provo UT 84601 Rule 13d-1(c) Gigafund 1, LP DE 0 19459882 0 19459882 19459882 N 19.48 PN The percentage of class is calculated based upon 99,910,315 shares of Class A common stock ("Class A Shares") outstanding as of September 11, 2025, as reported on the Issuer's Current Report on Form 8-K ("Form 8-K") filed with the Securities & Exchange Commission ("SEC") on September 16, 2025. Gigafund 1 GP, LP DE 0 19459882 0 19459882 19459882 N 19.48 PN The percentage of class is calculated based upon 99,910,315 Class A Shares outstanding as of September 11, 2025, as reported on the Issuer's Form 8-K filed with the SEC on September 16, 2025. Luke Nosek X1 0 19459882 0 19459882 19459882 N 19.48 IN The percentage of class is calculated based upon 99,910,315 Class A Shares outstanding as of September 11, 2025, as reported on the Issuer's Form 8-K filed with the SEC on September 16, 2025. Stephen D. Oskoui X1 191155 19459882 191155 19459882 19651037 N 19.64 IN The reported securities represent 19,513,386 Class A Shares and 137,651 Class A Shares issuable upon conversion of shares of Class B common stock ("Class B Shares") that the Reporting Person has an option to acquire. The percentage of class is calculated based upon 99,910,315 Class A Shares outstanding as of September 11, 2025, as reported on the Issuer's Form 8-K filed with the SEC on September 16, 2025, as increased by the 137,651 Class A Shares issuable upon conversion of Class B Shares. Angel Studios, Inc. 295 W Center St., Provo, Utah, 84601 This statement is filed by the entities and individuals listed below, all of whom together are referred to herein as the "Reporting Persons": (i) Gigafund 1, LP ("LP") (ii) Gigafund 1 GP, LP ("GP" and together with LP, the "Gigafund Holders") (iii) Luke Nosek ("Mr. Nosek") (iv) Stephen D. Oskoui ("Mr. Oskoui") The principal business address of each of the Reporting Persons is c/o Gigafund Management Company, LLC, 555 E. 5th Street #3127, Austin, TX 78701. See responses to row 4 on each cover page. Y See responses to row 9 on each cover page. The Class A Shares are directly held (i) 19,459,882 Class A Shares by LP and (ii) 53,504 Class A Shares by Mr. Oskoui. In addition, Mr. Oskoui has an option to acquire 137,651 Class B Shares which are convertible one for one into Class A Shares. The percentage of class calculations are based on 99,910,315 Class A Shares outstanding as of September 11, 2025, as reported on the Issuer's Form 8-K filed with the SEC on September 16, 2025, and, in the case of Mr. Oskoui, an additional 137,651 Class A Shares issuable upon exercise of his option and conversion of the acquired Class B Shares. GP is the general partner of LP. Collectively, Mr. Nosek and Mr. Oskoui control all voting and investments decisions with respect to securities held by the Gigafund Holders. Accordingly, Mr. Nosek and Mr. Oskoui may each be deemed to beneficially own the Class A Shares directly held by LP, provided that, the filing of this statement shall not be deemed an admission of beneficial ownership for purposes of Section 13(d) or 13(g) or for any other purpose. See responses to row 11 on each cover page. See responses to row 5 on each cover page. See responses to row 6 on each cover page. See responses to row 7 on each cover page. See responses to row 8 on each cover page. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99.1 Joint Filing Agreement, dated as of September 17, 2025, by and among the Reporting Persons. Gigafund 1, LP /s/ Lemuel Anaejionu 09/17/2025 Gigafund 1 GP, LP /s/ Lemuel Anaejionu 09/17/2025 Luke Nosek /s/ Luke Nosek 09/17/2025 Stephen D. Oskoui /s/ Stephen D. Oskoui 09/17/2025