Anghami Stock Soars 11.34% on OSN Streaming's Increased Stake

On July 22, 2025, Anghami's stock surged by 11.34% in pre-market trading, reflecting significant investor interest and potential market shifts.

OSN Streaming Limited and its affiliated entities have filed Amendment No. 6 to Schedule 13D for Anghami Inc., revealing that the group now beneficially owns 72,411,753 ordinary shares, or 70.8% of Anghami’s outstanding stock. This stake includes 36.99 million shares held outright, 13.43 million shares issuable from warrants exercisable at $11.50, and 22 million shares issuable upon conversion of three notes at $2.50.

On July 17 and 21, 2025, the group elected to purchase an additional $23 million convertible note under the existing Note Purchase Agreement, bringing the total convertible debt acquired to $55 million. The Third Note is expected to be issued on or about July 24, 2025, and carries the same $2.50 conversion price, further increasing potential dilution.

The filing restates ownership calculations based on a fully-diluted 102.3 million share count and references a March 2025 SPA that could sell up to 33.83% of OSN Streaming to a purchaser, accompanied by shareholder and option agreements regulating future governance.