Sound Point Meridian Capital, Inc. Announces Closing of IPO

NEW YORK, June 17, 2024–(BUSINESS WIRE)–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 its common stock at a price of tender offer 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 600,000 additional shares of common stock to cover over-allotments, if any. Sound Point Meridian Management Company, LLC, the Company’s investment advisor, or its affiliates will pay the full amount of sales related to this IPO and all organizational expenses of the Company.

The Company intends to use the proceeds from the offering of its common stock to acquire investments consistent with its investment objectives and strategies and for general working capital purposes. On a pro forma basis, after taking into account the sale of 4,000,000 shares and the payment of certain offering expenses as described above, and assuming no exercise of the underwriters’ option to purchase additional shares, the net asset value of the Company would be $400.1 million.

The Company’s common stock began trading on the New York Stock Exchange under the symbol “SPMC” on June 14, 2024.

Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Piper Sandler & Co. acted as joint book-running managers for the offering. Clear Street LLC and Wedbush Securities Inc. acted as co-managers for the offering.

Investors should carefully consider the Company’s investment objectives, risks, charges and expenses before investing. The final prospectus, which has been filed with the Securities and Exchange Commission (“SEC”), contains this and other information about the Company and should be read carefully before investing. The final prospectus and this press release do not constitute offers to sell these securities and are not soliciting an offer to purchase these securities in any state in which such offer or sale is not permitted.

A registration statement relating to these securities is filed with and has been declared effective by the SEC. Copies of the final prospectus may be obtained by writing to Oppenheimer & Co. Inc., Attn: Syndicate Prospectus Department, 85 Broad Street, 26^th Floor, New York, NY 10004, by calling (212) 667-8055 or emailing [email protected]. Copies may also be obtained by visiting EDGAR on the SEC’s website at www.sec.gov.

ABOUT THE COMPANY

The Company is an externally managed, non-diversified, closed-end investment company. The Company’s investment objective is to generate high current income, with a secondary objective of generating capital appreciation, by investing primarily in third party collateralized loan (“CLO”) equity securities and mezzanine tranches. of CLOs primarily denominated in US dollars backed by leveraged corporate securities. loans granted primarily to American debtors. The Company is externally managed and advised by Sound Point Meridian Management Company, LLC. The Company’s public documents are available free of charge by writing to the Company at Sound Point Meridian Capital, Inc., 375 Park Avenue, 34^th Floor, New York, NY 10152, Attention: Investor Relations, or by telephone at (833) 217-6665.

ABOUT SOUND POINT MERIDIAN MANAGEMENT COMPANY

Sound Point Meridian Management Company, LLC (the “Adviser”) is the external advisor to the Company and is majority owned by Sound Point Capital Management, LP (“Sound Point Capital Management”), a registered investment advisor. The Advisor’s CLO investment team is comprised of Stephen J. Ketchum, Ujjaval Desai, Matt Seifert and Dylan Leahy.

ABOUT SOUND POINT CAPITAL MANAGEMENT

Sound Point Capital Management is an alternative asset management company founded in 2008 with particular expertise in credit strategies. Headquartered in New York, with offices in London, Connecticut, Florida and California, the firm manages funds on behalf of institutional investors, including leading pension funds, foundations, insurance, wealth management companies and family offices. Sound Point Capital Management’s strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged lending, special situations, distressed debt, structured credit, loans direct and commercial real estate. Sound Point Capital Management currently manages more than $45 billion in assets and was founded by Stephen J. Ketchum, who is the majority shareholder. Five principals of Stone Point Capital LLC, as well as Blue Owl GP Stakes, a division of Blue Owl Capital Inc. (NYSE: OWL), and Assured Guaranty Ltd, through one or more subsidiaries, are strategic investors in Sound Point Capital Management. For more information, please visit the Sound Point Capital Management website at www.soundpointcap.com.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not guarantees. future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described in the prospectus and other filings made by the Company with the SEC. The Company undertakes no obligation to update any forward-looking statements contained herein. All forward-looking statements speak only as of the date of this press release.

NOT INSURED BY THE FDIC • NO BANK GUARANTEE • MAY LOSE VALUE

View source version on businesswire.com: https://www.businesswire.com/news/home/20240617546111/en/

Contacts

Investor Relations:
Garrett Edson – ICR; Julie Smith – Capitale Sound Point
(833) 217-6665
[email protected]