**Sound Point Meridian Capital, Inc. Reports Q4 Financial Results and Update through January 31, 2025**

Sound Point Meridian Capital, Inc. disclosed its financial outcomes for the quarter ending December 31, 2024, along with additional activity up to February 11, 2025, as per an 8-K filing with the Securities and Exchange Commission on February 12, 2025.

For the quarter ending December 31, 2024, Sound Point Meridian Capital, Inc. reported the following highlights:
– Net asset value stood at $20.52 per share of common stock as of December 31, 2024.
– Net investment income (NII) totaled $12.5 million, translating to $0.62 per share of common stock, with $20.0 million in investment income and $7.5 million in expenses.
– A significant portion of 97% of NII represented recurring GAAP income sourced from collateralized loan obligation (CLO) equity and new issue warehouse income.
– Realized gain on investments amounted to $2.0 million, while unrealized gain on investments achieved $17.7 million.
– GAAP net income came in at $32.2 million or $1.59 per share of common stock.
– The issuance of 2.3 million shares of 8.0% Series A Preferred stock generated net proceeds of $55.8 million.
– The weighted average effective yield of the CLO equity portfolio, as per amortized cost, was 15.2% as of December 31, 2024.

Further activities realized through January 31, 2025, included:
– Receiving $16.6 million in cash distributions from the investment portfolio.
– Deployment of $26.7 million into two new CLO equity positions exhibiting a GAAP yield of 17.2%.
– Declaration of a monthly distribution of $0.25 per share on common stock, marking a 4.2% increase from the prior distribution.
– Declaration of dividends of $0.16667 per preferred share in April, May, and June 2025.

A conference call to discuss these results was scheduled by Sound Point Meridian Capital, Inc. for February 12, 2025, at 10:00 a.m. (Eastern Time), with detailed participation information available on the company’s website.

Sound Point Meridian Capital, Inc., operating as a closed-end management investment company, aims to produce high current income primarily through investments in collateralized loan obligation equity and mezzanine tranches.

This report may contain forward-looking statements, and investors are encouraged to review the company’s filings with the Securities and Exchange Commission for more information on potential risks and uncertainties affecting future performance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sound Point Meridian Capital’s 8K filing here.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches.