Sound Point Meridian Capital closes $57.5M 7.875% Series B Preferred Offering

Sound Point Meridian Capital, Inc.

Issued and sold 2,300,000 shares at $25/share, including full exercise of underwriters' overallotment; gross proceeds $57.5M.
Series B Preferred pay monthly dividends at 7.875% annual rate ($1.96875/share/year); first dividend July 31, 2025.
Mandatory redemption at $25 plus accrued dividends on July 31, 2030; optional redemption at Company's option after July 31, 2027.
Preferred shares rank senior to common stock, equal with existing Series A Preferred, subordinate to secured indebtedness.
Shares listed on NYSE under symbol SPME; SS&C GIDS acts as transfer agent.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Sound Point Meridian Capital, Inc.: Filed Certificate of Designation for Series B Preferred Shares, as amended by Certificate of Correction, designating 2,300,000 shares with specific terms (effective 2025-07-11).

Change: charter amendment
Effective: 2025-07-11

Exact text from the filing

On July 11, 2025, the Company filed with the Secretary of State of the State of Delaware the Certificate of Designation for the Series B Preferred Shares, as amended by the Certificate of Correction filed with the Secretary of State of the State of Delaware on July 16, 2025, which designates a total of 2,300,000 Series B Preferred Shares

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Sound Point Meridian Capital, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-25-005101

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