Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, May 10, 12:49 PM
| This Slide: #21 of 665 |
Slide #21. Sound Point Meridian Capital, Inc. — Preferred Stock Offering
| Company: | Sound Point Meridian Capital, Inc. (NYSE:SPMC) |
| Date announced: | 7/7/2025 |
| Shares Offered: | 2,000,000 |
| Date of Pricing: | 7/8/2025 |
| Price Per Share: | $25.00 |
| Preferred Stock Offering Details: | Sound Point Meridian Capital, Inc. (the "Company") (NYSE:SPMC), an externally managed closed-end fund focused on primarily investing in equity and junior debt tranches of collateralized loan obligations, has commenced an underwritten public offering of its Series B Preferred Shares. Certain financial and other terms of the Series B Preferred Shares are to be determined by negotiations between the Company and the underwriters. The Series B Preferred Shares are rated `BBB' by Egan-Jones Ratings Company, an independent rating agency. In addition, the Company plans to grant the underwriters a 30-day option to purchase additional Series B Preferred Shares on the same terms and conditions. The Series B Preferred Shares are expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the ticker symbol "SPME". -updated 7/8- Sound Point Meridian Capital, Inc. (the "Company") (NYSE:SPMC) today announced that it has priced an underwritten public offering of 2,000,000 shares of its 7.875% Series B Preferred Shares due 2030 (the "Preferred Shares") at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $48.2 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Preferred Shares are rated `BBB' by Egan-Jones Ratings Company, an independent rating agency. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of Preferred Shares on the same terms and conditions. The Preferred Shares 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." |
Sound Point Meridian Capital is a closed-end management investment company. Co.'s investment objective is to generate high current income and generate capital appreciation.
Preferred: SPME
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