Sec Form 3 Filing - Gigafund 1, LP @ Angel Studios, Inc. - 2025-09-10

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Gigafund 1, LP 2. Issuer Name and Ticker or Trading Symbol Angel Studios, Inc. [ ANGX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 555 E. 5TH STREET #3127 3. Date of Earliest Transaction (MM/DD/YY) 09/10/2025 (Street) AUSTIN, TX78701 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 19,459,882 D ( 1 ) ( 4 ) Class A Common Stock 53,504 I See footnotes ( 2 ) ( 4 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Options to Purchase Class B Common Stock $ 2.24 09/10/2025 12/02/2032 Class B Common Stock 137,651 I See footnotes ( 3 ) ( 4 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Gigafund 1, LP 555 E. 5TH STREET #3127 AUSTIN, TX78701 X Gigafund 1 GP, LP 555 E. 5TH STREET #3127 AUSTIN, TX78701 X Nosek Luke 555 E. 5TH STREET #3127 AUSTIN, TX78701 X Oskoui Stephen D. 555 E. 5TH STREET #3127 AUSTIN, TX78701 X Signatures Gigafund 1, LP, By: Gigafund 1 GP, LP, its General Partner, By: /s/ Lemuel Anaejionu, Name: Lemuel Anaejionu, Title: Authorized Signatory 09/19/2025 Signature of Reporting Person Date Gigafund 1 GP, LP, By: /s/ Lemuel Anaejionu, Name: Lemuel Anaejionu, Title: Authorized Signatory 09/19/2025 Signature of Reporting Person Date /s/ Lemuel Anaejionu, as attorney-in-fact for Luke Nosek 09/19/2025 Signature of Reporting Person Date /s/ Lemuel Anaejionu, as attorney-in-fact for Stephen D. Oskoui 09/19/2025 Signature of Reporting Person Date

Explanation of Responses:

( 1 )These shares of Class A Common Stock are directly held by Gigafund 1, LP ("LP"). Gigafund 1 GP, LP ("GP") is the general partner of LP, and Stephen D. Oskoui and Luke Nosek control all voting and investments decisions with respect to securities held by LP and GP. Each of the Reporting Persons disclaim beneficial ownership of such securities, except to the extent of their respective pecuniary interest therein. ( 2 )These shares of Class A Common Stock, which are directly held by Stephen D. Oskoui, were acquired upon conversion of shares of Class B Common Stock, as reported on a Form 4 filed on September 16, 2025. Each of LP, GP, and Luke Nosek disclaim beneficial ownership of such securities. ( 3 )These options are directly held by Stephen D. Oskoui and each of LP, GP, and Luke Nosek disclaim beneficial ownership of such options. ( 4 )This report shall not be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 16 or for any other purpose.

Remarks: Exhibit 24.1 - Power of Attorney

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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