2 years ago
Utah-based movie workplace Angel Studios added $10.6 cardinal successful bitcoin to its treasury done a banal merchantability past October, according to SEC filings.
“On October 18, 2021, the Company sold 1,685,392 shares of its Class A communal banal astatine the mean terms of $9.28 per share. The Company received $4,999,993 successful cash, and the equivalent worth of $10,649,895 successful bitcoin for the shares,” 1 of the documents said.
A root acquainted with the substance said VC funds Uncorrelated Ventures and Gigafund participated successful the indie studio’s Oct. 18 sale. The root confirmed that Angel Studios sold equity for bitcoin but would not accidental who paid successful the crypto.
Angel Studios and Gigafund did not respond by property time. Uncorrelated Ventures declined to comment.
Notable companies from MicroStrategy to Tesla person bitcoin connected their equilibrium sheets, but fewer U.S. corporations are known to person acquired it done a bitcoin-denominated stock sale.
Twitter relationship MacroScope noted that Angel Studios is backed by Gigafund, a task superior steadfast aligned with Elon Musk done its laminitis “PayPal Mafia” subordinate Luke Nosek and its concern successful Musk companies.
Angel Studios reported a $2.7 cardinal impairment nonaccomplishment connected its bitcoin astatine the extremity of 2021.
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