Sound Point Meridian Capital Inc

Earnings data Q2 2024

Sound Point Meridian Capital, Inc. operates as a closed-end management investment company. Its primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. It seeks to achieve its investment objectives by investing primarily in equity and mezzanine tranches of collateralized loan obligations. The company was founded on May 13, 2022 and is headquartered in New York, NY.

Sound Point Meridian Capital Inc., a new closed-end fund investing in CLO Equity, is rated a Buy due to strong performance, high-yield dividends, and solid backing from reputable institutions. The CLO Equity market has historically delivered over 12% annual returns, with positive outlooks for 2025 as interest rates fall and refinancing opportunities increase. SPMC's monthly dividend has increased to $0.24 per share, offering a competitive annual yield of about 13%, supported by a diversified portfolio of 70+ CLOs.

SPMC: New CLO Equity CEF Raises Monthly Dividend Again, Now Yields 13%

Invesco Mortgage Capital

We take a look at the action in preferreds and baby bonds through the second week of November and highlight some of the key themes we are watching. Preferred stocks had a strong week with a 2% total return, supported by a Treasury rally and narrowing credit spreads. Invesco Mortgage Capital is redeeming its floating-rate preferred IVR.PR.B, which will raise equity coverage.

Preferreds Weekly Review: Mortgage REITs See Some Redemptions

XAI Octagon Floating Rate & Alternative Income Term Trust

We review the CEF market valuation and performance through the second week of November and highlight recent market action. CEFs had a strong week, with MLPs and Equity-linked sectors leading. Tax-loss season is approaching, but few income sectors are expected to be pressured due to strong market performance this year.

CEF Weekly Review: Few Opportunities This Tax-Loss Season

NEW YORK--(BUSINESS WIRE)-- #CLOs--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 “Company”), today announced results for the second fiscal quarter ended September 30, 2024. SECOND FISCAL QUARTER ENDED SEPTEMBER 30, 2024 RESULTS Net asset value per share of common stock was $19.59 as of September 30, 2024. Net investment income was $17.5 million, or $.

Sound Point Meridian Capital, Inc. Announces Results for the Second Fiscal Quarter Ended September 30, 2024

SPMA represents the ticker for the new Series A preferred shares from Sound Point Meridian Capital. SPMA began trading on November 8, 2024, below the $25 par value, largely due to the underwriting process. Investment banks, having committed to purchasing these securities from SPMC at a discount, are motivated to sell them quickly, creating potential buying opportunities at attractive prices during the initial days.

SPMA: New CEF Preferred Equity, 8% Yield

NEW YORK--(BUSINESS WIRE)-- #CLOs--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 “Company”), today is pleased to announce the declaration of distributions on shares of the Company's common and preferred stock for the first calendar quarter of 2025 (fiscal fourth quarter 2025). The Company is declaring a monthly distribution of $0.24 per share on its.

Sound Point Meridian Capital, Inc. Announces 9.1% Increase in First Calendar Quarter 2025 Common Distributions and Declares Preferred Distributions

SPMC predominantly invests in CLO equity tranches, with about 95% of its portfolio consisting of these high-yield but high-risk instruments. The remaining investments include warehouse debt and CLO debt. SPMC has not utilized leverage as of its Q2 2024 financials but has secured a revolving credit facility of $100 million, extendable up to $125 million, at competitive interest rates. SPMC announced a public offering of 8.00% Series A Preferred Shares, resulting in $48.2 million in proceeds. These shares are rated ‘BBB' by Egan-Jones and are expected to trade.

SPMC: Not The Right Time To Leverage Up, Preferred Shares Look Better

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (the “Company”) (NYSE: SPMC) today announced that it has priced an underwritten public offering of 2,000,000 shares of its 8.00% Series A Preferred Shares due 2029 (the “Preferred Shares”) at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $48.2 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Preferr.

Sound Point Meridian Capital Prices Offering of Preferred Shares

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (the “Company”) (NYSE: SPMC), an externally managed closed-end fund focused on primarily investing in equity and junior debt tranches of collateralized loan obligations, has commenced an underwritten public offering of its Series A Preferred Shares. Certain financial and other terms of the Series A Preferred Shares are to be determined by negotiations between the Company and the underwriters. The Series A Preferred Shares are rated ‘.

Sound Point Meridian Capital Announces Offering of Series A Preferred Shares

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (NYSE: SPMC), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today announced it plans to release its financial results for its second fiscal quarter ended September 30, 2024 prior to the opening of the stock market on Wednesday, November 13, 2024, and discuss these results in a conference call at 11:00 a.m. ET. All intereste.

Sound Point Meridian Capital, Inc. Schedules Second Fiscal Quarter Ended September 30, 2024 Earnings Release and Conference Call

DTF Tax-Free Income

Putnam High Income Securities Fund

We review the CEF market valuation and performance through the third week of September and highlight recent market action. Most CEF sectors rose, led by preferreds and convertibles. The DTF Tax-Free Income 2028 Term Fund Inc. offers a high pull-to-NAV yield and low-risk profile with no leverage.

CEF Weekly Review: CEFs Rally Through First Fed Cut

SPMC, a new CLO Equity CEF, recently launched with a 13% yield. SPMC's unique use of a credit facility for leverage, unlike peers, could pose risks due to strict covenants but offers potential for higher returns. Currently undervalued, SPMC is expected to gain investor interest and higher valuation as its distribution grows, similar to CCIF's trajectory.

SPMC: The 13%-Yielding CLO CEF Makes Its Public Debut

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (the “Company”) (NYSE: SPMC) today is pleased to announce the declaration of distributions on shares of the Company's common stock, financial results for the period ended June 30, 2024 and certain additional activity through July 31, 2024. DISTRIBUTIONS The Company is declaring a monthly distribution of $0.22 per share on its common stock on each of October 31, November 29 and December 31. The distributions are payable based on the f.

Sound Point Meridian Capital, Inc Announces Fourth Fiscal Quarter 2024 Common Distributions and Fiscal Second Quarter 2024 Financial Results

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (NYSE: SPMC), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today announced it plans to release its financial results for the second quarter ended June 30, 2024 prior to the opening of the stock market on Thursday, August 15, 2024, and discuss these results in a conference call at 11:00 a.m. ET. All interested parties are w.

Sound Point Meridian Capital, Inc. Schedules Second Quarter 2024 Earnings Release and Conference Call

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (NYSE: SPMC), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today announced that it has entered into a $100 million “net asset value” revolving credit facility with Canadian Imperial Bank of Commerce (“CIBC”), as a lender and administrative agent, which may be increased up to $125 million pursuant to the terms thereof (the.

Sound Point Meridian Announces $100 Million “Net Asset Value” Credit Facility

DALLAS--(BUSINESS WIRE)--Four Orsinger, Nelson, Downing & Anderson, LLP (ONDA) attorneys have earned placement on Lawdragon's 500 X – The Next Generation, a global legal guide that recognizes what the publication describes as the “future leaders of the law.” “It is a great honor to see these talented lawyers recognized in this way,” said managing partner Scott Downing. “Each of them deserves this, and we are very proud to have all four of them on our team.” Among the four is partner Jacob J.

Four ONDA Family Lawyers Named to Lawdragon's 500 X – The Next Generation List

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--A panel of AM Best analysts and industry experts will discuss trends in the cyber insurance segment in an online briefing scheduled for Thursday, July 25, 2024, at 10:00 a.m. EDT. Topics during the Best's Briefing, titled, “Cyber Insurance Market – Providing Dynamic Solutions for a Fast-Paced Risk,” will include current and prospective pricing conditions, growth prospects and the leading risks facing the market, as well as how participants are tackling risks thro.

AM Best to Host Briefing on Cyber Insurance Trends; Industry Panel to Discuss Top Risks and How to Mitigate Them

NEW YORK--(BUSINESS WIRE)-- #CLOs--Sound Point Meridian Capital, Inc. (the “Company”) (NYSE: SPMC) today is pleased to announce the declaration of distributions on shares of the Company's common stock. The Company is declaring a distribution of $0.30 per share on its common stock in July, which covers the period beginning with the Company's commencement of operations on June 13, 2024, through the end of July. The Company is also declaring monthly distributions of $0.20 per share on its common stock in.

Sound Point Meridian Capital, Inc. Announces Common Second Fiscal Quarter 2024 Distributions

NEW YORK--(BUSINESS WIRE)-- #Alternatives--Sound Point Meridian Capital, Inc. (NYSE: SPMC) (the “Company”) today announced the closing of its previously announced initial public offering of 4,000,000 shares of common stock at a public offering price of $20.00 per share, for net proceeds to the Company of approximately $79.7 million after payment of certain offering expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock to c.

Sound Point Meridian Capital, Inc. Announces Closing of Initial Public Offering

NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (NYSE: SPMC) (the “Company”) today announced the pricing of its initial public offering of 4,000,000 shares of common stock at a public offering price of $20.00 per share, which will result in net proceeds to the Company of approximately $79.7 million after payment of certain offering expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock to cover.

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