Southport Acquisition (NYSE:PORT) Announces Transfer of Shares

Southport Acquisition Corporation (NYSE:PORT) recently reported a significant transfer of shares within the company. On January 15, 2025, certain third-party investors in Southport Acquisition Corporation transferred a total of 262,502 shares of Class B common stock, each share having a par value of $0.0001, back to the Sponsor, Southport Acquisition Sponsor LLC. This transfer was executed with no additional consideration and was linked to the liquidation of some of the investors’ investment vehicles.

Following this transaction, as of January 15, 2025, Southport Acquisition Sponsor LLC now holds a significant shareholding in Southport Acquisition Corporation. The Sponsor currently owns 4,200,000 shares of Class A common stock, with a par value of $0.0001 per share, along with 312,506 shares of Class B Common Stock and 11,700,000 private placement warrants of the Company.

This move marks a notable shift in the ownership structure within Southport Acquisition Corporation. The details of the share transfer illustrate a strategic realignment and consolidation of ownership within the company.

For further updates and detailed information, interested parties and investors can refer to the official filing made by Southport Acquisition Corporation with the Securities and Exchange Commission on the specified date.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Southport Acquisition’s 8K filing here.

About Southport Acquisition

Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to acquire businesses in the field of financial software with a focus on mortgage and real estate verticals in the United States.