Welcome to our dedicated page for Sound Point Meridian Capital news (Ticker: SPMC), a resource for investors and traders seeking the latest updates and insights on Sound Point Meridian Capital stock.
Sound Point Meridian Capital, Inc. (NYSE: SPMC) is an externally managed, non-diversified closed-end management investment company focused on investing primarily in third-party collateralized loan obligation ("CLO") equity and mezzanine tranches of predominantly U.S. dollar-denominated CLOs backed by corporate leveraged loans issued primarily to U.S. obligors. This news page aggregates company-issued updates and related coverage so readers can follow developments affecting SPMC common stock and its listed preferred shares, SPMA and SPME.
News about Sound Point Meridian Capital frequently centers on quarterly financial results, including net asset value (NAV) per share, net investment income (NII), realized and unrealized gains or losses on investments, and GAAP net income or net loss. The company also releases information on the weighted average effective yield of its CLO equity portfolio, look-through exposure to underlying loans or corporate obligors, and changes in portfolio composition and activity.
Investors can also track regular announcements of distributions on the company’s common and preferred stock. Press releases describe monthly distribution amounts, record and payable dates, and note that common stock distributions are generally paid from net investment income and may include capital gains and/or a return of capital. Updates on preferred stock distributions for the 8.00% Series A Term Preferred Stock due 2029 and 7.875% Series B Term Preferred Stock due 2030 are likewise detailed.
Another recurring theme in SPMC news is the scheduling of earnings releases and conference calls. The company provides dates and times for its calls, dial-in information, webcast access details, and the availability of accompanying slide presentations in its investor-focused website sections. From time to time, filings and press releases also cover capital markets activity, such as offerings of preferred shares, and corporate matters disclosed on Form 8-K.
By following this news feed, readers can review historical and ongoing disclosures from Sound Point Meridian Capital regarding its CLO-focused investment strategy, distribution declarations, portfolio metrics, and other material events reported through press releases and SEC filings.
Sound Point Meridian Capital (NYSE: SPMC) has announced it will release its financial results for the fourth quarter and fiscal year ended March 31, 2025, before market opening on Thursday, May 29, 2025. The company will host a conference call at 11:00 a.m. ET to discuss the results.
Participants can join via phone using U.S. toll-free number (800) 549-8228 or international number (646) 564-2877, with Conference ID "SOUNDFQ4". A simultaneous webcast will be available through the company's website. An online archive of the webcast will be accessible for approximately one year, and a telephone replay will be available until June 29, 2025.
Sound Point Meridian Capital (NYSE: SPMC) reported its financial results for Q3 FY2024 ended December 31, 2024. The company achieved a net asset value of $20.52 per share and net investment income of $12.5 million ($0.62 per share). Key highlights include:
Investment income reached $20.0 million ($0.99 per share), with expenses of $7.5 million ($0.37 per share). The company recorded realized gains of $2.0 million and unrealized gains of $17.7 million, resulting in GAAP net income of $32.2 million ($1.59 per share). The CLO equity portfolio maintained a weighted average effective yield of 15.2%.
The company issued 2.3 million shares of 8.0% Series A Preferred stock, raising net proceeds of $55.8 million. Monthly distribution increased by 4.2% to $0.25 per share, payable in April, May, and June 2025.
Sound Point Meridian Capital (NYSE: SPMC) has declared distributions for both common and preferred stock for the first fiscal quarter 2026. The company will pay monthly distributions of $0.25 per common share on April 30, May 30, and June 30, 2025.
Additionally, SPMC announced distributions on its 8.00% Series A Term Preferred Stock due 2029, with monthly payments of $0.16667 per share for the same dates. These preferred stock distributions represent an annual rate of 8.00% based on the $25.00 liquidation preference per share.
The common stock distributions may include net investment income, capital gains, and/or return of capital, with specific tax characteristics to be reported on Form 1099 after the 2025 calendar year end.
Sound Point Meridian Capital (NYSE: SPMC) has announced its upcoming third fiscal quarter earnings release and conference call schedule. The company will release financial results for the quarter ended December 31, 2024, before market opening on Wednesday, February 12, 2025, followed by a conference call at 10:00 a.m. ET.
Participants can join via phone using U.S. dial-in (800) 549-8228 or international dial-in (646) 564-2877, with Conference ID 'SOUNDFQ3'. The call will be simultaneously webcast through the company's website. An accompanying slide presentation will be available in the Investor Relations section of the website after the earnings release.
A replay will be accessible through February 19, 2025, via phone at (888) 660-6264 (U.S.) or (646) 517-3975 (international) using pin 79387. The webcast recording will remain available online for approximately one year.
Sound Point Meridian Capital (NYSE: SPMC) reported its Q2 FY2024 results with a net asset value of $19.59 per share. The company posted net investment income of $17.5 million ($0.86 per share), comprising $25.1 million in investment income and $7.7 million in expenses. GAAP net income was $7.6 million ($0.38 per share), with a realized and unrealized loss of $9.9 million on investments.
The company secured a $100 million revolving credit facility with CIBC, issued 175,000 additional shares, and maintained an 8.7% leverage. Their CLO equity portfolio yielded 15.7%, with exposure to 1,532 unique corporate obligors. Monthly distribution increased 9.1% to $0.24 per share for Q1 2025.
Sound Point Meridian Capital (NYSE: SPMC) has announced a 9.1% increase in its monthly common stock distribution to $0.24 per share for the first calendar quarter of 2025, up from the previous $0.22. The distributions will be paid on January 31, February 28, and March 31, 2025. Additionally, the company declared distributions of $0.1667 per share on its 8.00% Series A Term Preferred Stock, reflecting an annual rate of 8.00% on the $25 liquidation preference, payable from December 2024 through March 2025.
Sound Point Meridian Capital (NYSE: SPMC) has announced the pricing of its public offering of 2,000,000 shares of 8.00% Series A Preferred Shares due 2029 at $25 per share. The offering is expected to generate net proceeds of approximately $48.2 million after expenses. The Preferred Shares, rated 'BBB' by Egan-Jones Ratings Company, will be listed on the NYSE under the symbol 'SPMA'. The company has granted underwriters a 30-day option to purchase up to 300,000 additional shares. The offering is expected to close on November 7, 2024, with multiple firms including Oppenheimer & Co, B. Riley Securities, and others acting as joint bookrunners.
Sound Point Meridian Capital (NYSE: SPMC) has announced a public offering of Series A Preferred Shares, rated 'BBB' by Egan-Jones Ratings Company. The shares will be listed on the NYSE under ticker symbol 'SPMA' within 30 days of issuance. Oppenheimer & Co, B. Riley Securities, Janney Montgomery Scott, Lucid Capital Markets, and Piper Sandler are joint bookrunners, with Clear Street and InspereX as co-managers. The company will grant underwriters a 30-day option to purchase additional shares. Terms will be determined through negotiations between the company and underwriters.
Sound Point Meridian Capital (NYSE: SPMC) has announced it will release its second fiscal quarter financial results for the period ended September 30, 2024, before market opening on November 13, 2024. The company will host a conference call at 11:00 a.m. ET on the same day to discuss the results. The call will be accessible via telephone and webcast, with dial-in numbers provided for both US and international participants. An accompanying slide presentation will be available on the company's website, and a replay of the call will be accessible until November 20, 2024.