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Sound Point Meridian Capital, Inc. Announces First Fiscal Quarter 2027 Common Distributions and Preferred Distributions and Results for the Third Fiscal Quarter Ended December 31, 2025

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  • Sound Point Meridian Capital, Inc. (NYSE: SPMC) announced distributions for its first fiscal quarter 2027 (second calendar quarter 2026) & results for the third fiscal quarter ended December 31, 2025.
  • The company declared a monthly common stock distribution of $0.20 per share payable on April 30, May 29, & June 30, 2026.
  • Record dates for common stock distributions are April 15, May 15, & June 15, 2026.
  • Common stock distributions are generally paid from net investment income & may include capital gains or a return of capital, with tax specifics reported on Form 1099 after the 2026 calendar year.
  • The company declared a monthly distribution of $0.16667 per share on its 8.00% Series A Term Preferred Stock due 2029, payable on April 30, May 29, & June 30, 2026.
  • The Series A distribution reflects an 8.00% annual rate on a $25.00 liquidation preference per share.
  • The company declared a monthly distribution of $0.1640625 per share on its 7.875% Series B Term Preferred Stock due 2030, payable on April 30, May 29, & June 30, 2026.
  • The Series B distribution reflects a 7.875% annual rate on a $25.00 liquidation preference per share.
  • Net asset value per common share was $14.02 as of December 31, 2025.
  • Net investment income for the quarter was $9.0 million ($0.44 per share), derived from $18.0 million in investment income offset by $9.0 million in expenses.
  • Realized losses on investments were $1.1 million ($0.05 per share) & unrealized losses were $51.8 million ($2.53 per share).
  • GAAP net loss for the quarter was $43.9 million ($2.14 per share).
  • The weighted average effective yield of the CLO equity portfolio was 11.0% as of December 31, 2025.
  • Indirect exposure included approximately 1,596 unique underlying loans, with the top ten obligors representing 4.5% of the portfolio.
  • The unaudited net asset value per common share as of January 31, 2026, was estimated at $13.40.
  • The company received $29.6 million in cash distributions from its investment portfolio during the fourth fiscal quarter.
  • A conference call to discuss results was held on Wednesday, February 11, 2026, at 11:00 a.m. ET via dial-in numbers (800) 549-8228 (US) & (646) 564-2877 (International) using Conference ID "SOUNDFQ3".
  • The company is an externally managed closed-end investment company focused on generating income through third-party CLO equity & mezzanine tranches.