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Sound Point Meridian Capital, Inc. Announces Fourth Fiscal Quarter 2027 Common and Preferred Distributions and Results for the Second Fiscal Quarter Ended September 30, 2026

SPMC
  • Sound Point Meridian Capital, Inc. announced distributions for the fourth fiscal quarter 2027, results for the second fiscal quarter ended September 30, 2026, and activity through October 31, 2026.
  • The Company declared a $0.13 monthly common stock distribution payable on January 29, February 26, and March 31, 2027.
  • The Company declared a $0.16667 monthly distribution on 8.00% Series A Term Preferred Stock due 2029, payable on the same dates in 2027.
  • The Company declared a $0.1640625 monthly distribution on 7.875% Series B Term Preferred Stock due 2030, payable on the same dates in 2027.
  • Net asset value per common share was $9.09 as of September 30, 2026.
  • Net investment income for the quarter ended September 30, 2026, was $5.8 million ($0.28 per share).
  • The Company reported a realized loss of $13.5 million ($0.64 per share) and an unrealized gain of $3.6 million ($0.17 per share) for the quarter.
  • GAAP net loss for the quarter was $4.1 million ($0.19 per share).
  • The weighted average GAAP yield of the CLO equity portfolio was 10.0% as of September 30, 2026.
  • The portfolio had indirect exposure to approximately 1,566 unique underlying loans, with the top ten obligors representing 4.4% of the portfolio.
  • A management fee waiver agreement reduced the annual base management fee to 1.50% and the incentive fee to 15% from July 1, 2026, through December 31, 2026.
  • Management estimated the net asset value per common share between $8.41 and $8.51 as of October 31, 2026.
  • The Company received $18.3 million in cash distributions from its investment portfolio during the third fiscal quarter.
  • A conference call to discuss these results was scheduled for November 12, 2026, at 11:00 a.m. ET, with dial-in details and a webcast available via the Company website.