By Oleksandr Koliakin

The angular momentum of an object is equal to:

L = (mv)r = (mwr)r

Where m is the mass of the object spinning around a different object, v is the velocity of the rotating object, w is the angular velocity of the rotating object (measure in radians per second) and r is the distance at which the rotating object is rotating around the non-rotating object.

In outer space, with not drag forces present, it takes up energy to stop an object from rotating around a different object, or for an object to stop spinning. Therefore, if we take an object that is spinning, and make it smaller, the radius of the object will decrease, but its angular velocity will increase.

Sources:

"Sciencia" (book)