Sound Point Acquisition Corp I prices upsized $225M IPO

• Sound Point Acquisition Corp I, Ltd (SPCMU) has priced its upsized initial public offering of 22.5M units at $10.00 per unit.
• SPAC initially planned to raise $200M by offering 20M units at $10.
• The units will be listed on the Nasdaq today.
• Each unit consists of one Class A ordinary shares and one-half of one redeemable warrant for one Class A ordinary share at $11.50 per share.
• The offering is expected to close on March 4.
• The company has granted the underwriters a 45-day option to purchase up to an additional 3.375M units.
• The company is led by CEO and Chairman Stephen Ketchum, the founder, Managing Partner, and CIO of Sound Point Capital Management, an alternative asset manager and registered investment advisor with a particular expertise in credit strategies.
• The blank-check company plans to concentrate its efforts in sectors where Sound Point maintains a deep level of relationships and expertise, particularly in the credit markets.