Business Wire·May 27, 2026, 7:00 AM ET

Sound Point Meridian Capital, Inc. Announces Results for the Fourth Fiscal Quarter Ended March 31, 2026

SPMA SPMC SPME

Sound Point Meridian Capital, Inc. reported fourth fiscal quarter results ended March 31, 2026.
Net asset value per common share was $9.63 as of March 31, 2026.
Net investment income totaled $7.0 million ($0.34 per share), derived from $15.1 million in investment income less $8.2 million in expenses.
Realized losses on investments were $4.1 million ($0.20 per share).
Unrealized losses on investments were $77.6 million ($3.77 per share).
GAAP net loss for the quarter was $74.7 million ($3.63 per share).
The weighted average effective yield of the CLO equity portfolio was 9.1% based on amortized cost.
The portfolio had indirect exposure to approximately 1,540 unique underlying loans.
The largest look-through obligor represented 0.6% of the underlying loans.
The top ten largest look-through obligors collectively represented 4.4% of the underlying loans.
Management estimated the net asset value per share as $10.57 as of April 30, 2026.
The company received $23.4 million in cash distributions from its investment portfolio.
A monthly common stock distribution of $0.20 per share was declared for July, August, and September 2026.
A monthly distribution of $0.16667 per share was declared for the 8.00% Series A Term Preferred Stock for July, August, and September 2026.
A monthly distribution of $0.1640625 per share was declared for the 7.875% Series B Term Preferred Stock for July, August, and September 2026.
A conference call to discuss results was held on Wednesday, May 27, 2026, at 2:00 p.m. Eastern Time.
The company is an externally managed closed-end investment company focusing on CLO equity and mezzanine tranches.