Sound Point Meridian Capital, Inc. filed a Preliminary Proxy Statement on November 12, 2026, seeking stockholder approval at a December 16, 2026 annual meeting to convert the company from a Delaware corporation to a Delaware statutory trust and to elect two directors.

Key Highlights

  • Annual meeting date: December 16, 2026, at 10:00 a.m. Eastern Time, at 375 Park Avenue, 34th Floor, New York, NY 10152.
  • Record date: The Board fixed the close of business on November 6, 2026, as the record date for stockholders entitled to vote.
  • Conversion proposal: Stockholders are asked to approve a change in the company's legal form from a Delaware corporation to a Delaware statutory trust pursuant to a Plan of Conversion.
  • Director elections: Ujjaval Desai is nominated to be elected by preferred stockholders voting separately; Lana Lewin-Ross is nominated to be elected by common and preferred stockholders voting together, each to serve until the 2029 annual meeting.
  • Adviser continuity: The filing states the conversion "will have no direct effect on the management of the Company or its investment objectives and strategies," and Sound Point Meridian Management Company, LLC will continue as investment adviser.
  • Key stated benefit: The trust form would allow issuance of an unlimited number of common and preferred shares without further shareholder approval and would eliminate the Delaware corporate franchise tax.
  • Key stated risk: The filing identifies potential dilution of voting rights, the prospect of uncapped share issuances, and increased use of leverage through preferred share issuances as risks of the conversion.

Sound Point Meridian's Proposed Conversion to Delaware Statutory Trust

According to the preliminary proxy statement, Sound Point Meridian Capital, Inc. (NYSE:SPMC) is asking its stockholders to vote on converting the company from a Delaware corporation to a Delaware statutory trust. If approved, the company would be governed by new organizational documents required under Delaware law, including a Declaration of Trust attached as Appendix A to the proxy statement. The filing describes the conversion, referred to as the "Conversion," as being structured pursuant to a Plan of Conversion.

The filing outlines several stated benefits of the trust structure. These include "greater flexibility and the potential for meaningful operating efficiencies," the ability to issue an unlimited number of common and preferred shares without the costs associated with further shareholder approval, and elimination of the Delaware corporate franchise tax. The filing also identifies risks, including potential dilution of voting rights for existing shareholders from future share issuances, provisions that "could discourage and make more difficult a prospective acquiror's efforts to obtain control of the Company," and "the potential for increased use of leverage through the issuance of preferred shares."

The annual meeting will also address the election of two directors. Ujjaval Desai, the company's Chief Executive Officer who signed the accompanying stockholder letter, is nominated to be elected by holders of preferred stock voting as a separate class. Lana Lewin-Ross is nominated to be elected by holders of common and preferred stock voting together as a single class. Both nominees, if elected, would serve until the 2029 annual meeting of stockholders or until their successors are duly elected and qualify. Proxy materials are stated to have been first sent to stockholders on or about November 23, 2026.

What Was Disclosed

Sound Point Meridian Capital, Inc. filed a Preliminary Proxy Statement seeking stockholder approval at its December 16, 2026 annual meeting for a corporate-to-trust conversion under Delaware law and the election of two directors to serve through 2029.