Sound Point Meridian Capital, Inc. Announces Results for the Fiscal Quarter Ended June 2025

FIRST FISCAL QUARTER ENDED JUNE 30, 2025 RESULTS

Net asset value per share of common stock was $18.50 as of June 30, 2025.
Net investment income (“NII”) was $10.8 million, or $0.53 per share of common stock, comprised of $19.2 million of investment income, or $0.94 per share of common stock and $8.4 million of expenses, or $0.41 per share of common stock.
Realized loss on investments was $0.1 million, or ($0.01) per share of common stock.
Unrealized loss on investments was $1.0 million, or ($0.05) per share of common stock.
GAAP net income was $9.7 million, or $0.47 per share of common stock.
As of June 30, 2025, the weighted average effective yield of the Company’s CLO equity portfolio, based on amortized cost, was 12.9%.
As of June 30, 2025, on a look-through basis, and based on the most recent trustee reports received by such date:
- The Company, through its CLO investments, had indirect exposure to approximately 1,577 unique underlying loans.
- The largest look-through obligor represented 0.5% of the loans underlying the Company’s CLO debt and equity portfolio.
- The top ten largest look-through obligors together represented 4.3% of the loans underlying the Company’s CLO debt and equity portfolio.

SECOND FISCAL QUARTER PORTFOLIO ACTIVITY AND OTHER UPDATES

Received $22.6 million cash distributions from the Company’s investment portfolio.
Deployed $10.9 million in six CLO equity position with a GAAP yield of 13.7%.
Declared a monthly distribution of $0.25 per share on the Company’s common stock to be paid on each of October 31, 2025, November 28, 2025, and December 31, 2025.
Declared a monthly distribution of $0.16667 on shares of the Company’s 8.00% Series A Term Preferred Stock due 2029 to be paid on each of October 31, 2025, November 28, 2025, and December 31, 2025.
Declared a monthly distribution of $0.1640625 on shares of the Company’s 7.875% Series B Term Preferred Stock due 2030 to be paid on each of August 29, 2025, September 30, 2025, October 31, 2025, November 28, 2025, and December 31, 2025.
Executed an amendment to the CIBC Credit Facility extending the maturity date to August 4, 2028, increasing the maximum facility to $150.0 million, and no change to the rate of SOFR + 3.75%.

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