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SPMC

Sound Point Meridian Capital Inc

SPMC

Sound Point Meridian Capital Inc • NYSE
$15.27 ▲ 1.87% (+0.28)
Market Cap $308.96 M
52w High $22.30
52w Low $14.12
Dividend Yield 2.94%
P/E 0
Volume 14.46K
Outstanding Shares 20.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2024 $14.713M $0 $6.137M 41.712% $0.3 $6.798M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2024 $2.553M $447.906M $51.518M $396.388M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2024 $6.137M $-7.162M $-106.508M $116.224M $0 $-7.162M

Five-Year Company Overview

Income Statement

Income Statement SPMC’s income statement is still very early‑stage and quite small, so individual line items are not very meaningful yet. Reported revenue and operating profit look very similar across the two years shown, suggesting a relatively stable but small base of activity. The jump in earnings per share between periods likely reflects technical factors around the fund’s formation and share count rather than a dramatic change in the business itself. Overall, the profile so far is: small scale, roughly breakeven to modestly profitable, and not yet showing a long track record through different market conditions.

Balance Sheet

Balance Sheet The balance sheet shows a compact investment vehicle with a modest pool of assets funded mostly by equity and a smaller slice of debt. Cash on hand appears limited, which is typical for a closed‑end credit fund that aims to stay invested rather than sit in cash. Leverage is present but not extreme based on the mix of debt and equity shown. The short history and the near‑zero prior year figures suggest that trend analysis is difficult; this is essentially a newly organized listed vehicle whose risk profile will be driven more by the quality of its CLO holdings than the size of its balance sheet alone.

Cash Flow

Cash Flow Cash flows have moved from negative to positive, which is encouraging but still based on a very short and small sample. The improvement in operating and free cash flow suggests that the fund is beginning to generate cash from its investments rather than consuming it during setup. Capital spending is negligible, which is consistent with an asset management and investment company that doesn’t need heavy physical infrastructure. Going forward, the reliability and resilience of cash generation will depend on credit conditions in the loan markets and the performance of the underlying CLO structures.

Competitive Edge

Competitive Edge SPMC’s main competitive strength is not its size as a listed fund, but its access to and alignment with Sound Point Capital, a large and experienced credit manager. By focusing on equity and mezzanine pieces of CLOs, SPMC operates in a specialist, higher‑yield but higher‑risk corner of the fixed income world. The scale and reputation of Sound Point can help with deal access, structuring, and ongoing management, which are all crucial in this complex asset class. At the same time, this niche focus makes SPMC heavily exposed to the health of leveraged loans and corporate credit. The recent regulatory settlement involving its external manager is a reputational risk and a reminder that strong governance and compliance will be important to maintaining its competitive standing.

Innovation and R&D

Innovation and R&D Innovation here is more about process and specialization than about technology. SPMC applies a structured, multi‑step investment process to selecting CLO equity and mezzanine positions, leveraging the deep credit expertise, analytics, and market relationships of Sound Point. The acquisition of Assured Investment Management by its parent has increased overall platform scale, which can improve access to transactions and potentially lower costs. However, there is no emphasis on proprietary tech or visible in‑house research platforms in the usual sense; the “moat” is mainly the team’s experience, credit judgment, and ability to structure and negotiate complex deals. Any future innovation is likely to come through refining strategies within CLOs and adjacent credit products rather than through disruptive new tools.

Summary

SPMC is a newly listed, specialized credit fund tied closely to an established CLO and credit manager. Its financial statements so far are small and shaped by startup and listing dynamics, so they do not yet provide a long or robust performance record. The balance sheet and cash flows look consistent with a young closed‑end fund that is just beginning to deploy capital and generate income. Strategically, SPMC’s appeal rests on Sound Point’s scale and expertise in CLOs, giving it potential advantages in a complex, higher‑risk segment of the credit market. Key uncertainties include its short standalone history, sensitivity to credit cycles, and the need to demonstrate strong governance and compliance after the regulatory issue at its external manager. Over time, the central question will be whether the specialized CLO focus and manager strength translate into durable income and controlled risk through different market environments.

NEWS

November 25, 2025 · 4:20 PM UTC

South Pacific Metals Announces Marketed Equity Offering up to C$8 Million

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November 13, 2025 · 7:00 AM UTC

Sound Point Meridian Capital, Inc. Announces Results for the Second Fiscal Quarter Ended September 30, 2025

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November 11, 2025 · 7:30 AM UTC

South Pacific Metals Corp. Reports Rock Chip Assays with High-Grade Copper up to 21.2% at Ontenu NE

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November 5, 2025 · 8:08 PM UTC

Sound Point Meridian Capital, Inc. Announces Fourth Fiscal Quarter 2026 Common and Preferred Distributions

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October 30, 2025 · 12:25 PM UTC

South Pacific Metals Corp Announces Start of Drilling Program at Ontenu Northeast

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