UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. )*
Under the Securities Exchange Act of 1934
Sound Point
Acquisition Corp I, Ltd
(Name of Issuer)
Class A ordinary shares, par value $0.0001 per share
(Titles of Class of Securities)
G8274F 101
(CUSIP
Number)
December 31, 2022
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to
designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☐ Rule 13d-1(c)
☒ Rule 13d-1(d)
* |
The remainder of this cover page shall be filled out of a reporting persons initial filing on this form
with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934, as amended (the Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No. G8274F 101 |
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Schedule 13G |
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1 |
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NAME OF REPORTING PERSON
Sound Point Acquisition Sponsor I, LLC |
2 |
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CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) ☐ (b) ☐
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3 |
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SEC USE ONLY
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4 |
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CITIZENSHIP OR PLACE OF
ORGANIZATION
Delaware |
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NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH: |
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5 |
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SOLE VOTING POWER
6,368,750(1)(2) |
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6 |
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SHARED VOTING POWER
- 0 - |
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7 |
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SOLE DISPOSITIVE POWER
6,368,750(1)(2) |
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8 |
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SHARED DISPOSITIVE POWER
- 0 - |
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9 |
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,368,750(1)(2) |
10 |
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CHECK BOX IF THE AGGREGATE
AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
11 |
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PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW 9 19.8% |
12 |
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TYPE OF REPORTING
PERSON OO (Delaware limited liability company) |
(1) |
Consists of 6,368,750 Class A ordinary shares, par value $0.0001 per share (Class A ordinary
shares), of Sound Point Acquisition Corp I, Ltd (the Issuer) acquirable upon conversion of 6,368,750 Class B ordinary shares, par value $0.0001 per share (Class B ordinary shares), of the Issuer.
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(2) |
Excludes 15,437,500 Class A ordinary shares issuable upon the exercise of 15,437,500 private placement
warrants of the Issuer owned by Sound Point Acquisition Sponsor I, LLC (Sponsor). Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, and becomes exercisable beginning 30
days after the completion of the Issuers initial business combination and expires five years after the completion of the Issuers initial business combination or earlier upon redemption or liquidation. |
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CUSIP No. G8274F 101 |
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Schedule 13G |
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1 |
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NAME OF REPORTING PERSON
Sound Point Acquisition Sponsor Consolidator, LLC |
2 |
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CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) ☐ (b) ☐
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3 |
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SEC USE ONLY
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4 |
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CITIZENSHIP OR PLACE OF
ORGANIZATION
Delaware |
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NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH: |
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5 |
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SOLE VOTING POWER
6,368,750(1)(2) |
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6 |
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SHARED VOTING POWER
- 0 - |
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7 |
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SOLE DISPOSITIVE POWER
6,368,750(1)(2) |
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8 |
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SHARED DISPOSITIVE POWER
- 0 - |
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9 |
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,368,750(1)(2) |
10 |
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CHECK BOX IF THE AGGREGATE
AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
11 |
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PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW 9 19.8% |
12 |
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TYPE OF REPORTING
PERSON OO (Delaware limited liability company) |
(1) |
Consists of 6,368,750 Class A ordinary shares acquirable upon conversion of 6,368,750 Class B
ordinary shares owned directly by Sponsor. Sponsor is managed by Sound Point Acquisition Sponsor Consolidator, LLC ( Consolidator), its managing member. Accordingly, Consolidator may be deemed to have beneficial ownership of the
Class A ordinary shares owned directly by Sponsor. Consolidator disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. |
(2) |
Excludes 15,437,500 Class A ordinary shares issuable upon the exercise of 15,437,500 private placement
warrants of the Issuer owned by Sponsor. Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, and becomes exercisable beginning 30 days after the completion of the Issuers initial
business combination and expires five years after the completion of the Issuers initial business combination or earlier upon redemption or liquidation. |
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CUSIP No. G8274F 101 |
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Schedule 13G |
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1 |
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NAME OF REPORTING PERSON
Sound Point Capital Management, LP |
2 |
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CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) ☐ (b) ☐
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3 |
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SEC USE ONLY
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4 |
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CITIZENSHIP OR PLACE OF
ORGANIZATION
Delaware |
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NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH: |
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5 |
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SOLE VOTING POWER
6,368,750(1)(2) |
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6 |
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SHARED VOTING POWER
- 0 - |
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7 |
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SOLE DISPOSITIVE POWER
6,368,750(1)(2) |
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8 |
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SHARED DISPOSITIVE POWER
- 0 - |
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9 |
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,368,750(1)(2) |
10 |
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CHECK BOX IF THE AGGREGATE
AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
11 |
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PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW 9 19.8% |
12 |
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TYPE OF REPORTING
PERSON PN |
(1) |
Consists of 6,368,750 Class A ordinary shares acquirable upon conversion of 6,368,750 Class B
ordinary shares owned directly by Sponsor. Sponsor is managed by Consolidator, its managing member. Consolidator is managed by Sound Point Capital Management, LP (Sound Point), its managing member. Accordingly, Sound Point may be deemed
to have beneficial ownership of the Class A ordinary shares owned directly by Sponsor. Sound Point disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. |
(2) |
Excludes 15,437,500 Class A ordinary shares issuable upon the exercise of 15,437,500 private placement
warrants of the Issuer owned by Sponsor. Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, and becomes exercisable beginning 30 days after the completion of the Issuers initial
business combination and expires five years after the completion of the Issuers initial business combination or earlier upon redemption or liquidation. |
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CUSIP No. G8274F 101 |
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Schedule 13G |
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1 |
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NAME OF REPORTING PERSON
SPC Partners GP, LLC |
2 |
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CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) ☐ (b) ☐
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3 |
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SEC USE ONLY
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4 |
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CITIZENSHIP OR PLACE OF
ORGANIZATION
Delaware |
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NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH: |
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5 |
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SOLE VOTING POWER
6,368,750(1)(2) |
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6 |
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SHARED VOTING POWER
- 0 - |
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7 |
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SOLE DISPOSITIVE POWER
6,368,750(1)(2) |
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8 |
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SHARED DISPOSITIVE POWER
- 0 - |
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9 |
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,368,750(1)(2) |
10 |
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CHECK BOX IF THE AGGREGATE
AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
11 |
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PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW 9 19.8% |
12 |
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TYPE OF REPORTING
PERSON OO (Delaware limited liability company) |
(1) |
Consists of 6,368,750 Class A ordinary shares acquirable upon conversion of 6,368,750 Class B
ordinary shares owned directly by Sponsor. Sponsor is managed by Consolidator, its managing member. Consolidator is managed by Sound Point, its managing member, which is managed by SPC Partners GP, LLC, its general partner (General
Partner). Accordingly, General Partner may be deemed to have beneficial ownership of the Class A ordinary shares owned directly by Sponsor. General Partner disclaims beneficial ownership of such securities except to the extent of its
pecuniary interest therein. |
(2) |
Excludes 15,437,500 Class A ordinary shares issuable upon the exercise of 15,437,500 private placement
warrants of the Issuer owned by Sponsor. Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, and becomes exercisable beginning 30 days after the completion of the Issuers initial
business combination and expires five years after the completion of the Issuers initial business combination or earlier upon redemption or liquidation. |
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CUSIP No. G8274F 101 |
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Schedule 13G |
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1 |
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NAME OF REPORTING PERSON
Stephen Ketchum |
2 |
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CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (a) ☐ (b) ☐
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3 |
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SEC USE ONLY
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4 |
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CITIZENSHIP OR PLACE OF
ORGANIZATION United
States |
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NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH: |
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5 |
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SOLE VOTING POWER
6,368,750(1)(2) |
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6 |
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SHARED VOTING POWER
- 0 - |
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7 |
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SOLE DISPOSITIVE POWER
6,368,750(1)(2) |
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8 |
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SHARED DISPOSITIVE POWER
- 0 - |
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9 |
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,368,750(1)(2) |
10 |
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CHECK BOX IF THE AGGREGATE
AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
11 |
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PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW 9 19.8% |
12 |
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TYPE OF REPORTING
PERSON IN |
(1) |
Consists of 6,368,750 Class A ordinary shares acquirable upon conversion of 6,368,750 Class B
ordinary shares owned directly by Sponsor. Sponsor is managed by Consolidator, its managing member. Consolidator is managed by Sound Point, its managing member, which is managed by General Partner. Stephen Ketchum is the managing member of General
Partner. Accordingly, Mr. Ketchum may be deemed to have beneficial ownership of the Class A ordinary shares owned directly by Sponsor. Mr. Ketchum disclaims beneficial ownership of such securities except to the extent of his pecuniary
interest therein. |
(2) |
Excludes 15,437,500 Class A ordinary shares issuable upon the exercise of 15,437,500 private placement
warrants of the Issuer owned by Sponsor. Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, and becomes exercisable beginning 30 days after the completion of the Issuers initial
business combination and expires five years after the completion of the Issuers initial business combination or earlier upon redemption or liquidation. |
Item 1(a). |
Name of Issuer: |
Sound Point Acquisition Corp I, Ltd
Item 1(b). |
Address of Issuers Principal Executive Offices: |
375 Park Avenue
New York, NY
10152
Item 2(a). |
Name of Person Filing: |
The information required by this Item is set forth in Appendix 1 attached hereto and incorporated by reference herein. This statement is being
filed pursuant to a Joint Filing Agreement attached hereto as Exhibit 1 by (i) Sponsor, (ii) Consolidator, the managing member of Sponsor, (iii) Sound Point, the managing member of Consolidator, (iv) General Partner, the general
partner of Sound Point, and (v) Mr. Ketchum, the managing member of General Partner (collectively, the Reporting Persons).
Item 2(b). |
Address of Principal Business Office or, if none, Residence: |
The information required by this Item with respect to each Reporting Person is set forth in Appendix 1 hereto.
The information required by this Item with respect to each Reporting Person is set forth in Appendix 1 hereto.
Item 2(d). |
Titles of Classes of Securities: |
Class A ordinary shares, par value $0.0001 per share.
G8274F 101
Item 3. |
If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a(n): |
Not applicable.
The following information is provided as of December 31, 2022.
Each of Sponsor, Consolidator, Sound Point, General Partner and Mr. Ketchum has sole voting and sole dispositive power with respect to
6,368,750 Class A ordinary shares, acquirable by Sponsor upon conversion of 6,368,750 Class B ordinary shares held directly by Sponsor. The Class B ordinary shares will automatically convert into Class A ordinary shares at the
time of the Issuers initial business combination or earlier at the option of the holders thereof.
The following sets forth the
beneficial ownership of the Class A ordinary shares by each of the Reporting Persons as of December 31, 2022:
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(a) |
Amount beneficially owned: |
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(i) |
Sponsor is the beneficial owner of 6,368,750 Class A ordinary shares; |
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(ii) |
Consolidator is the beneficial owner of 6,368,750 Class A ordinary shares; |
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(iii) |
Sound Point is the beneficial owner of 6,368,750 Class A ordinary shares; |
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(iv) |
General Partner is the beneficial owner of 6,368,750 Class A ordinary shares; and |
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(v) |
Mr. Ketchum is the beneficial owner of 6,368,750 Class A ordinary shares. |
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(ii) |
19.8% for Consolidator; |
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(iii) |
19.8% for Sound Point; |
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(iv) |
19.8% for General Partner; and |
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(v) |
19.8% for Mr. Ketchum. |
The percentages used herein and in the rest of this Schedule 13G are calculated based upon 25,875,000 Class A ordinary shares reported to be outstanding
as of November 9, 2022, as reported in the Issuers Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 filed with the Securities and Exchange Commission on
November 10, 2022, and assuming the conversion of the 6,368,750 Class B ordinary shares beneficially owned by the Reporting Persons for an equal number of Class A ordinary shares.
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(c) |
Number of shares as to which such person has: |
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(i) |
Sole power to vote or to direct the vote: |
6,368,750 Class A ordinary shares for Sponsor;
6,368,750 Class A ordinary shares for Consolidator;
6,368,750 Class A ordinary shares for Sound Point;
6,368,750 Class A ordinary shares for General Partner; and
6,368,750 Class A ordinary shares for Mr. Ketchum.
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(ii) |
Shared power to vote or to direct the vote: |
0 Class A ordinary shares for Sponsor;
0 Class A ordinary shares for Consolidator;
0 Class A ordinary shares for Sound Point;
0 Class A ordinary shares for General Partner; and
0 Class A ordinary shares for Mr. Ketchum.
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(iii) |
Sole power to dispose or to direct the disposition of: |
6,368,750 Class A ordinary shares for Sponsor;
6,368,750 Class A ordinary shares for Consolidator;
6,368,750 Class A ordinary shares for Sound Point;
6,368,750 Class A ordinary shares for General Partner; and
6,368,750 Class A ordinary shares for Mr. Ketchum.
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(iv) |
Shared power to dispose or to direct the disposition of: |
0 Class A ordinary shares for Sponsor;
0 Class A ordinary shares for Consolidator;
0 Class A ordinary shares for Sound Point;
0 Class A ordinary shares for General Partner; and
0 Class A ordinary shares for Mr. Ketchum.
Item 5. |
Ownership of Five Percent or Less of a Class. |
Not applicable.
Item 6. |
Ownership of More than Five Percent on Behalf of Another Person. |
Not Applicable.
Item 7. |
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the
Parent Holding Company. |
Not Applicable.
Item 8. |
Identification and Classification of Members of the Group. |
Not Applicable.
Item 9. |
Notice of Dissolution of Group. |
Not Applicable.
Not Applicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: February 14, 2023
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Sound Point Acquisition Sponsor I, LLC |
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By: |
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/s/ David Grill |
Name: |
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David Grill |
Title: |
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Chief Financial Officer |
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Sound Point Acquisition Sponsor Consolidator, LLC |
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By: |
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/s/ David Grill |
Name: |
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David Grill |
Title: |
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Chief Financial Officer |
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Sound Point Capital Management, LP |
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By: |
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/s/ Stephen Ketchum |
Name: |
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Stephen Ketchum |
Title: |
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Managing Partner |
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SPC Partners GP, LLC |
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By: |
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/s/ Stephen Ketchum |
Name: |
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Stephen Ketchum |
Title: |
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Managing Member |
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/s/ Stephen Ketchum |
Stephen Ketchum |
Exhibit Index
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Exhibit No. |
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Description |
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Exhibit 1 |
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Joint Filing Agreement, dated as of February 14, 2023, by and among Sound Point Acquisition Sponsor I, LLC, Sound Point Acquisition Sponsor Consolidator, LLC, Sound Point Capital Management, LP, SPC Partners GP, LLC and Stephen
Ketchum. |
Appendix 1
ADDRESS, ORGANIZATION AND PRINCIPAL BUSINESS OF EACH REPORTING PERSON REQUIRED BY ITEMS 2(b) AND (c):
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Name of Person Filing |
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Principal Business Office Address |
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Place of Organization |
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Sound Point Acquisition Sponsor I, LLC |
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375 Park Avenue New York, NY 10152 |
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Delaware limited liability company |
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Sound Point Acquisition Sponsor Consolidator, LLC |
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375 Park Avenue New York, NY 10152 |
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Delaware limited liability company |
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Sound Point Capital Management, LP |
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375 Park Avenue New York, NY 10152 |
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Delaware limited partnership |
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SPC Partners GP, LLC |
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375 Park Avenue New York, NY 10152 |
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Delaware limited liability company |
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Stephen Ketchum |
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375 Park Avenue New York, NY 10152 |
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United States citizen |
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