Sound Point Meridian Capital reports Q1 net asset value of $18.50 per share.

Sound Point Meridian Capital reported Q1 FY25 results with a net asset value per share of $18.50, net investment income of $10.8 million ($0.53 per share), and a realized loss on investments of $0.1 million ($0.01 per share). The company's expenses totaled $8.4 million ($0.41 per share).

Sound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA, SPME) has announced its results for the first fiscal quarter ended June 30, 2025. The company reported a net asset value (NAV) per share of $18.50, net investment income (NII) of $10.8 million, or $0.53 per share, and a realized loss on investments of $0.1 million, or $0.01 per share. The company's expenses totaled $8.4 million, or $0.41 per share.

The net investment income was comprised of $19.2 million of investment income, or $0.94 per share, and $8.4 million of expenses, or $0.41 per share. The GAAP net income was $9.7 million, or $0.47 per share. The weighted average effective yield of the Company’s CLO equity portfolio was 12.9% as of June 30, 2025 [1].

The company also received $22.6 million in cash distributions from its investment portfolio and deployed $10.9 million in six CLO equity positions with a GAAP yield of 13.7%. Additionally, the company declared monthly distributions of $0.25 per share on its common stock and $0.16 per share on its Series A and B Term Preferred Stock.

The company's CLO investments had indirect exposure to approximately 1,577 unique underlying loans, with the largest obligor representing 0.5% of the loans and the top ten obligors representing 4.3% of the loans.

The company will host a conference call at 11:00 a.m. (Eastern Time) today to discuss these results. All interested parties are welcome to participate in the conference call via the provided dial-in numbers.

References:
[1] https://www.stocktitan.net/news/SPMC/sound-point-meridian-capital-inc-announces-results-for-the-first-emm96lcg0ixr.html