{"id":811934,"date":"2025-02-12T07:04:48","date_gmt":"2025-02-12T12:04:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/"},"modified":"2025-02-12T07:04:48","modified_gmt":"2025-02-12T12:04:48","slug":"sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/","title":{"rendered":"Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwnowrap { white-space: nowrap }\n.bwpadl0 { padding-left: 0px }\n.bwtablemarginb { margin-bottom: 10px }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the \u201cCompany\u201d), today announced results for the third fiscal quarter ended December 31, 2024.<\/p>\n<p><b>THIRD FISCAL QUARTER ENDED DECEMBER 31, 2024 RESULTS<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNet asset value per share of common stock was $20.52 as of December 31, 2024.<\/p>\n<\/li>\n<li>\nNet investment income (\u201cNII\u201d) was $12.5 million, or $0.62 per share of common stock, comprised of $20.0 million of investment income, or $0.99 per share of common stock and $7.5 million of expenses, or $0.37 per share of common stock.<\/p>\n<\/li>\n<li>\n97% of NII was recurring GAAP income from collateralized loan obligation (\u201cCLO\u201d) equity and new issue warehouse income.<\/p>\n<\/li>\n<li>\nRealized gain on investments was $2.0 million, or $0.10 per share of common stock.<\/p>\n<\/li>\n<li>\nUnrealized gain on investments was $17.7 million, or $0.87 per share of common stock.<\/p>\n<\/li>\n<li>\nGAAP net income was $32.2 million, or $1.59 per share of common stock.<\/p>\n<\/li>\n<li>\nIssued 2.3 million shares of 8.0% Series A Preferred with net proceeds of $55.8 million.<\/p>\n<\/li>\n<li>\nAs of December 31, 2024, the weighted average effective yield of the Company\u2019s CLO equity portfolio, based on amortized cost, was 15.2%.<sup>1<\/sup><\/li>\n<li>\nAs of December 31, 2024, on a look-through basis, and based on the most recent trustee reports received by such date:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nThe Company, through its CLO investments, had indirect exposure to approximately 1,483 unique corporate obligors.<\/p>\n<\/li>\n<li>\nThe largest look-through obligor represented 0.6% of the loans underlying the Company\u2019s CLO debt and equity portfolio.<\/p>\n<\/li>\n<li>\nThe top ten largest look-through obligors together represented 4.1% of the loans underlying the Company\u2019s CLO debt and equity portfolio.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>FOURTH FISCAL QUARTER PORTFOLIO ACTIVITY AND UPDATES THROUGH JANUARY 31, 2025<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nReceived $16.6 million of cash distributions from the Company\u2019s investment portfolio.<sup>2<\/sup><\/li>\n<li>\nDeployed $26.7 million in two new CLO equity positions with a GAAP yield of 17.2%.<\/p>\n<\/li>\n<li>\nDeclared a monthly distribution of $0.25 per share on the Company\u2019s common stock, a 4.2% increase from the prior monthly distribution of $0.24 per share, to be paid on each of April 30, 2025, May 30, 2025, and June 30, 2025.<\/p>\n<\/li>\n<li>\nDeclared dividends of $0.16667 per preferred share in April, May and June 2025.\u00a0<\/p>\n<\/li>\n<\/ul>\n<p><b>CONFERENCE CALL<\/b><\/p>\n<p>\nThe Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss these results. All interested parties are welcome to participate in the conference call via the below:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDate\/Time:<\/p>\n<\/td>\n<td class=\"bwpadl0 bwnowrap\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWednesday, February 12, 2025 \u2013 10:00 a.m. ET<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nParticipant Dial-In Numbers:<\/p>\n<\/td>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(United States):<\/p>\n<\/td>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(800) 549-8228<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(International):<\/p>\n<\/td>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(646) 564-2877<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nTo access the call, please dial-in approximately five minutes before the start time and, if asked, provide the operator with Conference ID \u201cSOUNDFQ3\u201d.<\/p>\n<p>\nAn accompanying slide presentation is available in pdf format via the \u201cEvents and Presentations\u201d section of the Company\u2019s website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.soundpointmeridiancap.com%2Ffinancials%2Fevents-and-presentations%2Fdefault.aspx&amp;esheet=54204734&amp;newsitemid=20250212243881&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.soundpointmeridiancap.com%2F&amp;index=1&amp;md5=c44e8f717eefc61e9f18207fc9e2dfe6\">https:\/\/www.soundpointmeridiancap.com\/<\/a>).<\/p>\n<p>\nThe call will also be simultaneously webcast over the internet via the \u201cEvents and Presentations\u201d section of the Company\u2019s website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.soundpointmeridiancap.com&amp;esheet=54204734&amp;newsitemid=20250212243881&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.soundpointmeridiancap.com&amp;index=2&amp;md5=2acd8fbd36d3fd9389b6a00b02e3b2bf\">https:\/\/www.soundpointmeridiancap.com<\/a>). Please go to the \u201cEvents and Presentations\u201d section of the Company\u2019s website at least 15 minutes prior to the call to register for the call and download and install any necessary audio software.<\/p>\n<p><b>About the Company<\/b><\/p>\n<p>\nThe Company is an externally managed, non-diversified closed-end management investment company. The Company\u2019s investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation (\u201cCLO\u201d) equity and mezzanine tranches of predominately U.S. dollar-denominated CLOs backed by corporate leveraged loans issued primarily to U.S. obligors. The Company is externally managed and advised by Sound Point Meridian Management Company, LLC, a Delaware limited liability company. For additional information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.soundpointmeridiancap.com&amp;esheet=54204734&amp;newsitemid=20250212243881&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.soundpointmeridiancap.com&amp;index=3&amp;md5=2a5f9a7e072706e95890b2f1d417bc07\">https:\/\/www.soundpointmeridiancap.com<\/a>.<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p><i>This press release may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company\u2019s filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.<\/i><\/p>\n<p>\nNOT FDIC INSURED \u2022 NO BANK GUARANTEE \u2022 MAY LOSE VALUE<\/p>\n<p><sup>1 <\/sup>Weighted average effective yield is based on investments\u2019 amortized cost and expected future cash flows as of the applicable period end.<\/p>\n<p><sup>2<\/sup> \u201cCash distributions\u201d refers to the quarterly distributions received by the company from its CLO equity investments.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250212243881r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250212243881\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250212243881\/en\/<\/a><\/span><\/p>\n<p><b>Investor Relations:<\/b><\/p>\n<p>\nJulie Smith \u2013 Sound Point Capital<br \/>\n<br \/>(833) 217-6665<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ir@soundpointmeridiancap.com\">ir@soundpointmeridiancap.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.soundpointmeridiancap.com&amp;esheet=54204734&amp;newsitemid=20250212243881&amp;lan=en-US&amp;anchor=www.soundpointmeridiancap.com&amp;index=4&amp;md5=c135504b20eeb64891c19f3862083360\">www.soundpointmeridiancap.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Asset Management Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250212243881\/en\/2379578\/3\/SoundPointMeridianCapital_2line-large.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024 NEW YORK&#8211;(BUSINESS WIRE)&#8211; Sound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the \u201cCompany\u201d), today announced results for the third fiscal quarter ended December 31, 2024. THIRD FISCAL QUARTER ENDED DECEMBER 31, 2024 RESULTS Net asset value per share of common stock was $20.52 as of December 31, 2024. Net investment income (\u201cNII\u201d) was $12.5 million, or $0.62 per share of common stock, comprised of $20.0 million of investment income, or $0.99 per share of common stock and $7.5 million of expenses, or $0.37 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-811934","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024 NEW YORK&#8211;(BUSINESS WIRE)&#8211; Sound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the \u201cCompany\u201d), today announced results for the third fiscal quarter ended December 31, 2024. THIRD FISCAL QUARTER ENDED DECEMBER 31, 2024 RESULTS Net asset value per share of common stock was $20.52 as of December 31, 2024. Net investment income (\u201cNII\u201d) was $12.5 million, or $0.62 per share of common stock, comprised of $20.0 million of investment income, or $0.99 per share of common stock and $7.5 million of expenses, or $0.37 &hellip; Continue reading &quot;Sound Point Meridian Capital, Inc. 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Announces Results for the Third Fiscal Quarter Ended December 31, 2024 - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/","og_locale":"en_US","og_type":"article","og_title":"Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024 - Market Newsdesk","og_description":"Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024 NEW YORK&#8211;(BUSINESS WIRE)&#8211; Sound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the \u201cCompany\u201d), today announced results for the third fiscal quarter ended December 31, 2024. THIRD FISCAL QUARTER ENDED DECEMBER 31, 2024 RESULTS Net asset value per share of common stock was $20.52 as of December 31, 2024. Net investment income (\u201cNII\u201d) was $12.5 million, or $0.62 per share of common stock, comprised of $20.0 million of investment income, or $0.99 per share of common stock and $7.5 million of expenses, or $0.37 &hellip; Continue reading \"Sound Point Meridian Capital, Inc. Announces Results for the Third Fiscal Quarter Ended December 31, 2024\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/","og_site_name":"Market Newsdesk","article_published_time":"2025-02-12T12:04:48+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250212243881r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sound-point-meridian-capital-inc-announces-results-for-the-third-fiscal-quarter-ended-december-31-2024\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Sound Point Meridian Capital, Inc. 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