ANGEL STUDIO ADDED $10.6M IN BITCOIN TO ITS TREASURY THROUGH A STOCK SALE: SEC
“On October 18, 2021, the Company sold 1,685,392 shares in its standard Class A stock at an average price of $ 9.28 per share. The company received $ 4,999,993, and an equivalent amount of $ 10,649,895 bitcoin shares, ”said one source.
A source familiar with the matter said VC was funding Uncorrelated Ventures and Gigafund was involved in the sale of Oct's indie studio. 18. A source has confirmed that Angel Studios has sold bitcoin equity but will not say who paid for crypto.
Angel Studios and Gigafund did not respond at the time of publication. Uncorrelated Ventures declined to comment.
Notable companies from MicroStrategy to Tesla have bitcoin on their balance sheets, but few U.S. companies.
MacroScope's Twitter account noted that Angel Studios is backed by Gigafund, a financial firm that works with Elon Musk through its founder "PayPal Mafia member" Luke Nosek and its investment in Musk companies.
Angel Studios has reported a $ 2.7 million corruption loss on its bitcoin by the end of 2021.