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Comment by devit | Hacker News Reader

Wouldn't it have the wrong sender address?

Or are they actually forging it? (and somehow not getting put into spam due to SPF/DKIM failing)

  From:  [CEO Name] <team@angel.co>
  Reply-To: [CEO Name] <ceo's email address>

They're not forging the from address, it was SPF/DKIM signed.