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Sound Point Meridian Capital Announces Pricing of $48.2 Million Preferred Shares Offering

Strategic Insights

— 2 min read

Sound Point Meridian Capital, Inc. (NYSE: SPMC) has announced the pricing of an underwritten public offering of 2,000,000 shares of its 7.875% Series B Preferred Shares due 2030. The offering, priced at $25 per share, is expected to generate net proceeds of approximately $48.2 million after payment of underwriting discounts and commissions and estimated offering expenses. The preferred shares have been rated 'BBB' by Egan-Jones Ratings Company, an independent rating agency. The offering is expected to close on July 15, 2025, subject to customary closing conditions, and the preferred shares are expected to be listed on the New York Stock Exchange under the symbol "SPME" within 30 days of the original issue date.

Key Takeaways:

  • The company has priced an underwritten public offering of 2,000,000 shares of its 7.875% Series B Preferred Shares due 2030 at a public offering price of $25 per share.
  • The net proceeds from the offering are expected to be approximately $48.2 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.
  • The preferred shares have been rated 'BBB' by Egan-Jones Ratings Company, an independent rating agency.
  • The offering is expected to close on July 15, 2025, subject to customary closing conditions.
  • The Company intends to list the Preferred Shares on the New York Stock Exchange within 30 days of the original issue date under the symbol "SPME."
  • Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC, Lucid Capital Markets, LLC, and Piper Sandler & Co. are acting as joint bookrunners for the offering.
  • A.G.P./Alliance Global Partners LLC, Clear Street LLC, InspereX LLC, and R. Seelaus & Co., LLC are serving as co-managers for the offering.
  • Investors should consider the Company's investment objectives, risks, charges, and expenses carefully before investing.

Statistics:

  • 2,000,000 shares of 7.875% Series B Preferred Shares due 2030 were priced at $25 per share.
  • Net proceeds from the offering are expected to be approximately $48.2 million.
  • The preferred shares were rated 'BBB' by Egan-Jones Ratings Company.
  • The offering is expected to close on July 15, 2025.
  • The Company intends to list the Preferred Shares on the New York Stock Exchange under the symbol "SPME" within 30 days of the original issue date.

Sources:

  • Sound Point Meridian Capital, Inc. (2025). Sound Point Meridian Capital, Inc. Announces Pricing of $48.2 Million Preferred Shares Offering.
  • Egan-Jones Ratings Company (2025). Press Release: Sound Point Meridian Capital, Inc. Announces Pricing of $48.2 Million Preferred Shares Offering.
  • Securities and Exchange Commission (2025). Sound Point Meridian Capital, Inc. Prospectus, dated June 25, 2025.

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