Cion Invt Corp - CION STOCK NEWS

CION Investment Corporation (NYSE: CION) has announced a $10 million increase in its share repurchase authorization, raising the total to $60 million. The repurchase will be facilitated through a Rule 10b5-1 plan, with trading expected to commence after July 5, 2022. CION reported that its net investment income rose to $19.5 million, or $0.34 per share, as of March 31, 2022, supported by a strong portfolio with low non-accruals of 0.6%. The firm believes this buyback represents an efficient use of capital given the current trading discount to net asset value.

CION Investment Corporation (NYSE: CION) announced its participation in upcoming investor conferences. Notably, at the Wells Fargo BDC Power Alley Conference on June 9, management will host virtual meetings throughout the day. Additionally, at the LD Micro Invitational Conference in California, CION's main presentation is set for 8:30 am PT on June 9. The company reported approximately $1.8 billion in assets as of March 31, 2022, focusing on senior secured loans to U.S. middle-market companies.

CION Investment Corporation (NYSE: CION) reported its financial results for Q1 2022, revealing a net investment income of $0.34 per share and earnings per share of $0.14. The net asset value decreased to $16.20 from $16.34 due to market adjustments. Total debt outstanding rose to $875 million, with a debt-to-equity ratio of 0.95x. The company maintained a healthy portfolio of $1.74 billion across 115 companies, with 93.9% in senior secured loans. Despite marking net unrealized losses of $11.5 million, the company paid a distribution of $0.28 per share during the quarter.

CION Investments (CION) has partnered with Man Group to establish a joint venture, CION Man Management (CMM), focused on creating alternative investment solutions. CMM will combine Man Group's operational expertise with CION's retail product management. The partnership will utilize iCapital's technology to enhance access to private markets for financial advisors and high-net-worth clients. Currently, CION manages approximately $1.8 billion in assets through CION Investment Corporation and $3.1 billion in the CION Ares Diversified Credit Fund.

CION Investments announced a record raise of $390 million for the CION Ares Diversified Credit Fund (CADC) in Q1, boosting total managed assets to $3.1 billion. Co-CEO Michael A. Reisner attributed this success to the Fund’s floating rate strategy and investor demand for credit alternatives. The CADC employs a dynamic asset allocation framework targeting superior risk-adjusted returns across market cycles. CION aims to provide individual investors accessible alternative credit investments without high minimums or long lock-up periods.

CION Investment Corporation (NYSE: CION) announced the closing of a $50 million senior unsecured term loan with More Provident Funds and Pension Ltd. on April 27, 2022. Net proceeds, approximately $49 million, will fund investments and corporate purposes. The loan bears interest at a floating rate plus a 1.0% SOFR floor, maturing on April 27, 2027. Additionally, CION increased its JPM Credit Facility from $575 million to $675 million to enhance borrowing capacity for further investments. This expansion underscores the strong relationships with lenders.

CION Investment Corporation (NYSE: CION) will announce its financial results for Q1 2022 on May 12, 2022, before market opening. A conference call will follow at 11:00 a.m. ET. CION focuses on senior secured loans to U.S. middle-market companies, managing approximately $1.8 billion in assets as of December 31, 2021. Investors can access a slide presentation and the webcast via their website.

Invacare Corporation (NYSE: IVC) announced the appointment of Aron I. Schwartz to its Board of Directors, effective March 21, 2022. Schwartz, Managing Partner at ACON Investments, brings extensive financial expertise to the company. His role includes positions on the Audit Committee and Nominating and Governance Committee, expanding Invacare's board to nine directors, eight of whom are independent. The company's leadership expressed optimism that Schwartz's experience will enhance Invacare's business transformation and profitability.

CION Investment Corporation (CION) reported its fourth quarter and fiscal year results for 2021, highlighting a net investment income of $0.32 per share and earnings per share of $0.28. The company declared a second quarter 2022 distribution of $0.28 per share. Key actions included forming a joint venture with EagleTree Capital and reducing its asset coverage ratio from 200% to 150%, allowing for increased leverage. Although net asset value decreased to $16.34, total investments rose to $1.67 billion, with 93.9% in senior secured loans. The conference call on March 10, 2022, will discuss these results further.