Cion Invt Corp - CION STOCK NEWS

CION Investment (NYSE: CION) reported its Q4 and full-year 2024 financial results, achieving $1.79 in net investment income and delivering $1.52 in total shareholder distributions for 2024. The company reported Q4 net investment income of $0.35 per share and earnings of $0.10 per share.

Key metrics as of December 31, 2024 include:

• Net asset value (NAV) per share of $15.43, down 1.9% from $15.73 in Q3
• Total investments of $1.82 billion across 105 portfolio companies
• 86.1% of portfolio in senior secured loans
• Non-accrual investments decreased to 1.41% of portfolio at fair value

The company declared a Q1 2025 base distribution of $0.36 per share, completed a $172.5M public bond offering, and continued its share repurchase program, buying back 170,617 shares at an average price of $11.74 during Q4.

CION Investment (NYSE: CION) has announced a significant refinancing move, terminating its existing senior secured repurchase facility with UBS AG, London Branch and simultaneously entering into a new $125 million senior secured credit facility with UBS. The new agreement features improved economic terms, reducing the credit spread by 45 basis points from SOFR plus 3.20% to SOFR plus 2.75% per year. The facility has a maturity date of February 13, 2028.

CION Investment (NYSE: CION) has announced its schedule for the release of its fourth quarter and full year 2024 financial results. The company will release its earnings report on Thursday, March 13, 2025, before the financial markets open. Following the release, CION will host an earnings conference call at 11:00 a.m. ET on the same day.

Participants can join the call using the domestic toll-free number (877-484-6065) or international toll number (+1 201-689-8846). A supporting slide presentation will be made available on CION's website in the Investor Resources section after the earnings release. The company will also provide a webcast option, with a recording available shortly after the live call.

CION Investments and GCM Grosvenor have launched the CION Grosvenor Infrastructure Fund (CGIF), starting with a $240 million portfolio spread across 43 infrastructure assets and $82 million in additional committed capital. The fund is structured as an evergreen interval fund, offering individual investors access to GCM Grosvenor's institutional private infrastructure platform through financial advisors.

The fund provides daily pricing and quarterly liquidity of up to 5% of NAV. CGIF's portfolio focuses on traditional infrastructure sectors including transportation, digital, energy, and emerging sectors like supply chain. GCM Grosvenor, with $14.8 billion in infrastructure assets under management and a 20-year track record, brings its expertise to the partnership, while CION contributes product management and distribution capabilities.

CION Investment (NYSE: CION) has declared a special distribution of $0.05 per share for the year ending December 31, 2024, payable on January 27, 2025, to shareholders of record as of December 30, 2024. This special distribution, combined with previous distributions, brings the total distributions declared in 2024 to $1.52 per share. The special distribution reflects a portion of the company's investment company taxable income generated throughout the year. Management highlights their first-lien focus, flexible balance sheet, and disciplined capital deployment as key factors for potential future returns.

CION Investments and GCM Grosvenor announce SEC effectiveness of the CION Grosvenor Infrastructure Fund (CGIF), an interval fund structure providing individual investors access to GCM Grosvenor's institutional private infrastructure platform. The Fund is launching with approximately $300 million in seed capital, including a merger with a $220 million diversified portfolio across transportation, digital, energy, and supply chain sectors, plus an additional $80 million cash commitment. The fund aims to capitalize on infrastructure's multi-decade growth cycle, offering potential benefits like capital appreciation, income, inflation protection, and low correlation to other assets.

CION Investment reported its Q3 2024 financial results with net investment income of $0.40 per share and earnings per share of $(0.01). The company's net asset value decreased by 2.2% to $15.73 per share, primarily due to mark-to-market portfolio declines. Total investments were $1.75 billion across 103 portfolio companies, with 85.5% in senior secured loans. The company declared a Q4 2024 base distribution of $0.36 per share. Notable activities include completing a $172.5 million public bond offering, amending its credit facility with JPMorgan to reduce credit spread and extend maturity, and repurchasing 165,737 shares at an average price of $12.08.

CION Ares Diversified Credit Fund (CADC) has surpassed $6 billion in total assets under management. Launched in 2017, the Fund operates as an interval fund structure offering diversified credit strategy to individual investors through financial advisors. CADC invests in both illiquid and liquid credit investments, employing a dynamic asset allocation framework and leveraging Ares' resources and infrastructure. The Fund is distributed through RIAs, independent broker-dealers, and wirehouses, maintaining strong net capital raise with consistently low redemption rates.

CION Investment (NYSE: CION) has announced its schedule for the 2024 Third Quarter Earnings Release and Conference Call. The company will report its financial results for the quarter ended September 30, 2024, on Thursday, November 7, 2024, before the financial markets open. CION will host an earnings conference call at 11:00 a.m. ET on the same day to discuss the results.

Participants can join the call using the following dial-in numbers:

• Domestic (Toll-Free): 877-484-6065
• International (Toll): +1 201-689-8846