声点医疗资本有限公司A系列优先股美股招股说明书(2025-12-03版)

Filed pursuant to Rule 423(b)(3)Registration Nos. 333-284364 and 811-23881 SOUND POINT MERIDIAN CAPITAL, INC.SUPPLEMENT NO. 3 DATED DECEMBER 3, 2025 This prospectus supplement (this “Supplement”) is part of and should be read in conjunction with the prospectus of Sound Point MeridianCapital, Inc. (the “Company”), dated March 14, 2025 (the “Prospectus”). Unless otherwise defined herein, capitalized terms used in this The purpose of this Supplement is to include the Company’s Semi-Annual Report to stockholders for the period beginning on April1, 2025 and ending September 30, 2025, filed on November 26, 2025. Semi-Annual Report to Stockholders On November 26, 2025, the Company filed its Semi-Annual Report to stockholders for the period beginning on April 1, 2025 andending September 30, 2025 (the “Semi-Annual Report”), with the Securities and Exchange Commission. The Semi-Annual Report isattached to this Supplement. Table of Contents (Unaudited) November25, 2025 Dear Stockholders, We are excited to provide you with the semi-annual report of Sound Point Meridian Capital, Inc. (“we”, “us”, “our”, “Company” or“SPMC”) for the six months ended September 30, 2025. The Company is a closed‐end management investment company registered under the Investment Company Act of 1940, as amended (the“1940 Act”) and is advised by Sound Point Meridian Management Company, LLC (the “Adviser”). The Company’s primary investmentobjective is to generate high current income, with a secondary objective to generate capital appreciation. We seek to achieve our investmentobjectives by investing primarily in equity and mezzanine tranches of collateralized loan obligations, or “CLOs,” which are securitized byportfolios consisting primarily of below‐ investment grade U.S. senior secured loans. We aim to leverage our origination, underwriting and For the six months ending September30, 2025, the Company distributed $1.50 per common share. The Company’s common shares closedthe six-month period at a market price of $17.35 per share, delivering a (5.45)% total return on market value to our investors. Forcomparison, during the same time period, the S&P 500 Index generated an 8.12% total return, while the Morningstar LSTA US Leveraged Loan Index generated a 4.13% total return. As of September30, 2025, the weighted average reinvestment period of our portfolio was 3.9years versus the CLO 2.01market median of 3.9 years. We believe CLO equity investments with longer reinvestment periods provide the During the six months ending September30, 2025, we: ●Deployed $70.07 million in new CLO equity investments since the start of the fiscal year and sold $4.7 million of existing CLOinvestments. ●Refinanced 14 CLOs in our portfolio, lengthening the reinvestment period and lowering the cost of debt of each, which in manycases, increases the excess cashflow available to our equity investments. ●Recorded net investment income (“NII”) and total income/(loss) from investment operations of $1.07 and ($0.37), respectively, per2 ●Amended our $100 million revolving credit facility to extend maturity to August4, 2028 and increase total capacity to $150million, with a floating financing rate of term SOFR + 3.75% providing continued flexibility to deploy capital over time. ●Issued a 5-year, $57.5 million Series B Preferred Shares Offering with an 7.875% stated rate, resulting in net proceeds of $55.7 million. Common Stock On June13, 2024, the Company announced the pricing of its initial public offering (“IPO”) of 4,000,000 shares of common stock at apublic offering price of $20.00 per share. On a pro forma basis, after giving effect to the sale of 4,000,000 shares and the payment of certainoffering expenses, the Company’s net asset value (“NAV”) was $400.1 million, or $19.99 per share. The Company’s common shares trade On March14, 2025, the Company entered into a committed equity financing agreement with B. Riley Principal Capital II, LLC (“BRPCII”). Under this agreement, the Company has the right, but not the obligation, to direct BRPC II to purchase up to the lesser of (i)$25,000,000 in aggregate gross purchase price of our common stock and (ii) 4,052,100 shares of common stock over a 36‐month period. As of September30, 2025, the Company’s NAV was $346.22 million, or $16.91 per share of common stock, down from our IPO at $19.99,primarily due to unrealized losses in the portfolio. From the start of the fiscal year through September30, 2025, the Company paid total distributions of $1.50 per common share, of which$1.07 represented net investment income (NII) earned. The Company also declared calendar Q4 2025 monthly common distributions of $0.25 per share.3The Company’s dividend reinvestment plan allows common stockholders to have their distributions automaticallyreinvested into new shares of common stock. If the prevailing market price of our common stock exceeds our NAV per share, suchreinvestment is at a discount of up to 5% to the prevailing marke