UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On August 6, 2025, Sound Point Meridian Capital, Inc., a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), entered into the First Amendment (the “First Amendment”) to the Credit Agreement, dated July 8, 2024 (the “CIBC Credit Facility”), with the lenders from time to time party thereto and Canadian Imperial Bank of Commerce, as administrative agent. Proceeds of the CIBC Credit Facility may be used for working capital and for general corporate purposes.
The First Amendment extends the maturity date of the CIBC Credit Facility to August 4, 2028 and increases the maximum facility size from $125 million to $150 million. The First Amendment also provides that voluntary prepayments of loans or reductions of commitments by the Company are not permitted prior to August 6, 2026. Thereafter, any such voluntary prepayments are not subject to prepayment premiums.
The First Amendment further amends the calculation and timing of the facility commitment fee, including revising the commitment fee calculation so that it is only payable with respect to the unused portion of aggregate commitments in excess of the greater of the total outstanding principal balance and the minimum utilization amount, and adjusts the minimum utilization amount to seventy percent (70%) of the aggregate commitments. In addition, the First Amendment permits one extension of the maturity date for up to 364 days, subject to extension fees and customary conditions. Except as described herein, the other material terms of the CIBC Credit Facility remain unchanged.
The description of the terms of the First Amendment and the CIBC Credit Facility set forth above does not purport to be complete and is qualified in its entirety by the full text of the First Amendment, which is filed as Exhibit 10.1 and is incorporated into this Current Report on Form 8-K by reference.
| Item 9.01 | Financial Statements and Exhibits |
| 10.1 | First Amendment to the Credit Agreement, dated as of August 6, 2025, among the Company, the lenders party thereto and Canadian Imperial Bank of Commerce, as administrative agent | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Sound Point Meridian Capital, Inc. | ||
| Date: August 11, 2025 | By: | /s/ Ujjaval Desai |
| Name: | Ujjaval Desai | |
| Title: | Chief Executive Officer | |
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