IPO - Sound Point Meridian Capital, Inc.

Form Type: 8-A12B

Filing Date: 2025-07-14

Corporate Action: Ipo

Type: New

Accession Number: 000182912625005047

Filing Summary: Sound Point Meridian Capital, Inc. is registering its 7.875% Series B Preferred Shares, due 2030, with a par value of $0.001 per share. These shares are expected to be listed on the New York Stock Exchange under the trading symbol 'SPME' and will begin trading within 30 days of the Prospectus date. The registration statement also references the prospectus dated July 8, 2025, with comprehensive details about the offering, distribution policy, and related financial matters. This filing is notable as it indicates the company's intent to raise capital through this preferred share offering as part of its initial public offering process.

Form Type: 424B1

Filing Date: 2025-07-10

Corporate Action: Ipo

Type: New

Accession Number: 000182912625004997

Filing Summary: Sound Point Meridian Capital, Inc. is offering 7.875% Series B Preferred Shares due 2030 with a liquidation preference of $25 per share. The company, formed as a Delaware limited liability company in May 2022 and converted into a corporation in March 2024, focuses on generating high current income and capital appreciation by investing primarily in CLOs collateralized by senior secured loans. Their Series B Preferred Shares offering is part of their investment strategy that includes regular monthly distributions to shareholders and an emphasis on CLO investments. The IPO for their common stock took place on June 14, 2024, trading under the ticker symbol 'SPMC' at a price of $20.00 per share. The company intends to use the proceeds from the offering to make further investments and may borrow funds as necessary. Investors should be aware of the speculative nature of such investments, including risks associated with high leverage and market volatility, and the ability to redeem shares under certain conditions. The expected delivery date for the Series B Preferred Shares to purchasers is around July 15, 2025.

Form Type: 497AD

Filing Date: 2025-07-09

Corporate Action: Ipo

Type: New

Accession Number: 000182912625004957

Filing Summary: Sound Point Meridian Capital, Inc. has priced an underwritten public offering of 2,000,000 shares of its 7.875% Series B Preferred Shares due 2030 at a public offering price of $25 per share. The offering is expected to generate net proceeds of approximately $48.2 million after expenses. Investors will have the option to purchase an additional 300,000 shares within 30 days. The shares are expected to list on the NYSE under the symbol 'SPME' and the offering will close on July 15, 2025, subject to usual conditions. The company is an externally managed investment company focusing on high current income and capital appreciation primarily through CLO investments. The preliminary prospectus has been filed with the SEC and should be reviewed before investing.

Form Type: N-2/A

Filing Date: 2025-06-25

Corporate Action: Ipo

Type: Update

Accession Number: 000182912625004704

Filing Summary: Sound Point Meridian Capital, Inc. filed an amendment to its registration statement under the Securities Act of 1933 and the Investment Company Act of 1940 on June 25, 2025. The company is a closed-end management investment company that aims to generate high current income and capital appreciation primarily through investments in equity and mezzanine tranches of collateralized loan obligations (CLOs), especially those that are speculative and leveraged. The company emphasizes its investment strategy, management structure, and plans to offer Series B Preferred Shares with a liquidation preference of $25 per share. The document discusses the risks associated with the investment in CLOs, including leverage risks and market conditions that may impact the performances of these investments. It also mentions the company's structured investment approach, listing of shares on the NYSE, and the requirement to provide regular distributions to shareholders of common and preferred stock. The filing highlights the importance of understanding investment risks and the speculative nature of the Series B Preferred Shares, which will rank senior to common stock in terms of payment rights.

Form Type: N-CSR/A

Filing Date: 2025-06-24

Corporate Action: Ipo

Type: Update

Accession Number: 000182912625004669

Filing Summary: Sound Point Meridian Capital, Inc. is filing an amendment to its Form N-CSR for the year ended March 31, 2025. This amendment modifies the senior securities table without changing any other disclosures from the original filing. The company, registered under the Investment Company Act of 1940, focuses on generating high current income and capital appreciation through investment in CLOs. After its IPO on June 13, 2024, it reported a total return of 10.52% for the year, distributing $2.08 per common share. The company deployed $291.8 million into new investments and refinanced 19 CLOs to enhance performance. Additionally, it entered a $100 million revolving credit facility and issued Series A Preferred Shares, improving its capital structure. As of March 31, 2025, its NAV was $381.57 million, which was lower than its initial NAV due to unrealized losses. The company has begun paying monthly distributions to its shareholders and has a diversified portfolio across multiple sectors.

Form Type: N-2/A

Filing Date: 2025-06-11

Corporate Action: Ipo

Type: Update

Accession Number: 000182912625004385

Filing Summary: Sound Point Meridian Capital, Inc. has filed this registration statement as a pre-effective amendment under the Securities Act of 1933 for its Series B Preferred Shares due 20[●], with a liquidation preference of $25 per share. The company aims to generate high current income and capital appreciation primarily by investing in equity and mezzanine tranches of collateralized loan obligations (CLOs). The filing updates prior information from its initial public offering (IPO) of common stock, which commenced trading on June 14, 2024, and outlines planned distributions to shareholders and potential redemptions if certain asset coverage ratios are not maintained. The document emphasizes the speculative nature and leverage involved in investments within CLOs, and details risks associated with these investment strategies. Additional information includes service contacts, management structure, and a summary of risks pertinent to potential investors.

Form Type: N-CSR

Filing Date: 2025-06-02

Corporate Action: Ipo

Type: New

Accession Number: 000182912625004103

Filing Summary: This document represents the inaugural annual report for Sound Point Meridian Capital, Inc. (SPMC) covering the fiscal period from June 13, 2024, to March 31, 2025, post its initial public offering (IPO) where 4 million shares were priced at $20.00 each. The report details investment performance, with a distribution of $2.08 per common share and a total return of 10.52% for investors since the IPO, outperforming relevant indices. SPMC's investment strategy focuses on equity and mezzanine tranches of collateralized loan obligations (CLOs), predominantly securing below-investment-grade U.S. senior secured loans. The report highlights various financial metrics including a NAV of $381.57 million as of the end of the reporting period, activity in debt financing agreements, a commitment to reinvestment plans, and the diversification of its investment portfolio across different CLOs and sectors. A planned declaration of future monthly common stockholder distributions is noted, as is a commitment to maintaining sustainable distributions despite market volatility. Finally, insights on the market conditions affecting leveraged loans and CLOs are provided, emphasizing the defensively positioned investment strategy that aims at protecting interests through investment cycles.

Form Type: N-2

Filing Date: 2025-03-24

Corporate Action: Ipo

Type: New

Accession Number: 000182912625002029

Filing Summary: Sound Point Meridian Capital, Inc. is a newly organized, externally managed, non-diversified closed-end management investment company registered under the Investment Company Act of 1940. The company focuses on generating high current income through investments primarily in equity and mezzanine tranches of collateralized loan obligations (CLOs) backed by below-investment-grade U.S. senior secured loans. The company transitioned from a Delaware limited liability company to a corporation on March 13, 2024, and began trading on the New York Stock Exchange under the ticker symbol 'SPMC' after an initial public offering of 4,000,000 common shares at $20.00 each on June 14, 2024. The prospectus outlines the offering of Series B Preferred Shares with a liquidation preference of $25 per share and aims to provide regular monthly distributions to shareholders. Investment strategies involve leveraged CLO equity typically ranging from nine to thirteen times leverage, and risks related to credit and liquidity are noted. The offering also includes redemption terms for the preferred shares, requiring maintenance of asset coverage as defined in applicable regulations.

Form Type: N-2/A

Filing Date: 2025-03-07

Corporate Action: Ipo

Type: New

Accession Number: 000182912625001574

Filing Summary: Sound Point Meridian Capital, Inc. is a newly organized, externally managed, non-diversified closed-end management investment company registered under the Investment Company Act of 1940. The document, an amendment to its registration statement under both the Securities Act of 1933 and the Investment Company Act, outlines its intent to qualify as a regulated investment company (RIC) and describes its investment objectives focusing on generating high current income and capital appreciation primarily through investments in equity and mezzanine tranches of collateralized loan obligations (CLOs). The company was formed in May 2022, converted to a corporation in March 2024, and its common stock began trading on the NYSE in June 2024 following an initial public offering (IPO) of 4,000,000 shares at a public offering price of $20.00 per share. The filing indicates an offering of 4,052,100 shares of common stock for resale by B. Riley Principal Capital II, LLC, not directly by the company. The prospectus emphasizes the speculative nature of investments in CLO equity, highlighting substantial risks related to intense leverage and potential for loss. The company intends to make regular distributions from its investment company taxable income, though future distributions are not guaranteed and depend on various operational factors.

Form Type: N-2

Filing Date: 2025-01-21

Corporate Action: Ipo

Type: New

Accession Number: 000182912625000239

Filing Summary: Sound Point Meridian Capital, Inc. is a newly organized, externally managed, non-diversified closed-end management investment company that has registered under the Investment Company Act of 1940. The company aims to generate high current income primarily through investing in equity and mezzanine tranches of collateralized loan obligations (CLOs) backed by below-investment grade U.S. senior secured loans. It has experienced an initial public offering (IPO) and plans to operate as a regulated investment company (RIC). Stock began trading on the NYSE under the symbol SPMC following its IPO on June 14, 2024, where it offered 4,000,000 shares at $20.00 each. The company has also moved to engage in further share offerings through a partnership with B. Riley Principal Capital II, LLC, with a plan to issue additional shares worth up to $25 million. Risks inherent to its investment strategy include exposure to highly leveraged CLO equity securities, which are considered speculative, and reliance on market dynamics to optimize investment yield. Regular distributions of income to stockholders are anticipated, with variability depending on operational performance. The summary encapsulates key details on the company's investment objective, formation, trading history, risks, and distribution plans.