CION Investment Corp SEC Filings

CĪON Investment Corporation generated total investment income of $49,793 thousand for the quarter ended June 30, 2026, leading to net investment income after taxes of $14,170 thousand. Net increase in net assets resulting from operations was $30,980 thousand, or $0.62 per share, with net investment income per share of $0.29.

Total investments at fair value were $1,800,093 thousand as of June 30, 2026, within total assets of $1,846,688 thousand. Financing arrangements were $1,159,941 thousand and shareholders’ equity was $667,776 thousand. Net asset value per share was $13.57 on 49,202,704 shares outstanding, compared with $13.76 on 51,417,866 shares at December 31, 2025.

The portfolio includes non-controlled, non-affiliated, non-controlled, affiliated and controlled investments, primarily in senior secured first lien and second lien loans, revolving and term loans, and equity interests across sectors such as healthcare, media, environmental services and business services.

CĪON Investment Corporation entered into Note Purchase Agreements with an institutional investor for a private placement of senior unsecured notes: up to $10,000,000 of 7.50% notes due 2029 and up to $50,000,000 of 8.00% notes due 2031. An initial closing on July 15, 2026 totaled $30,000,000 in principal, consisting of $2,000,000 of 2029 Notes and $28,000,000 of 2031 Notes, with a second closing of up to $30,000,000 available within one year, subject to conditions.

The 2029 and 2031 Notes were issued at 98.00% and 97.00% of principal, respectively, bear fixed interest at 7.50% and 8.00% paid quarterly starting October 15, 2026, and mature on September 30, 2029 and July 15, 2031. They are general unsecured obligations ranking pari passu with other unsecured unsubordinated debt and effectively junior to secured and subsidiary-level obligations. Covenants include maintaining business development company status, minimum shareholders’ equity of $493.1 million, an asset coverage ratio of at least 150%, and minimum interest and unencumbered asset coverage ratios of 1.25 to 1.00. CĪON plans to use net proceeds to repay existing debt, with any remainder for working capital and general corporate purposes, as part of a broader balance-sheet optimization and leverage-reduction strategy.

CĪON Investment Corporation is registering a shelf offering to issue up to $500,000,000 of common stock, preferred stock, subscription rights, debt securities and warrants, to be sold from time to time using various distribution methods. The company is an externally managed, non-diversified, closed-end management investment company regulated as a business development company and taxed as a regulated investment company.

The portfolio focuses on senior secured loans to U.S. middle-market companies. As of March 31, 2026, total investments at fair value were $1,799,474 thousand, with 80.8% in senior secured first lien debt and 18.5% in equity, across 89 portfolio companies. The weighted average purchase price was 95.51% of par and the gross annual portfolio yield based on purchase price was 8.92%.

CĪON uses significant leverage through credit facilities and unsecured notes; consolidated indebtedness at par was approximately $1.17 billion as of March 31, 2026, with an asset coverage ratio of 156% after shareholder approval to operate down to 150%. Net asset value per share was $13.11 on March 31, 2026, while the common stock last closed at $6.40 on July 10, 2026, about a 51.2% discount to NAV. The company has declared monthly cash distributions of $0.10 per share for April through September 2026 and maintains an opt-out distribution reinvestment plan.

CION Investment Corporation announced plans for its upcoming second-quarter 2026 earnings release and conference call. The company will report financial results for the quarter ended June 30, 2026 on Thursday, August 6, 2026, before U.S. markets open, and hold an earnings call at 11:00 a.m. Eastern Time the same day.

The press release notes participant dial-in options for domestic and international callers, as well as a webcast and replay link. It also highlights that CION is a publicly listed business development company with approximately $1.8 billion in total assets as of March 31, 2026, focused primarily on senior secured loans to U.S. middle-market companies.

CĪ Investment Corporation reported the results of its Annual Meeting of Shareholders held on June 25, 2026. As of the April 30, 2026 record date, 49,789,210 common shares were eligible to vote and 32,603,998 shares were represented in person or by proxy.

Shareholders elected all director nominees listed in the 2026 proxy statement. For example, Robert A. Breakstone received 10,936,714 votes for and 3,212,483 votes withheld, while Catherine K. Choi received 12,410,684 votes for and 1,738,513 votes withheld, with no broker non-votes for either nominee.

Shareholders also approved the ratification of RSM US LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 31,424,238 votes for, 553,834 votes against and 625,926 abstentions, and no broker non-votes recorded on this proposal.

CION Investment Corporation reported first-quarter 2026 results showing lower earnings but a still-earning portfolio and continued shareholder payouts. Total investment income was $49.5 million, producing net investment income of $12.9 million, or $0.25 per share, down from $0.35 in the prior quarter. Net asset value per share fell to $13.11 from $13.76, mainly from unrealized mark-to-market losses on investments.

The board’s delegates declared base distributions of $0.10 per share for each of July, August, and September 2026, totaling $0.30 for the quarter. The investment portfolio stood at $1.70 billion at fair value across 89 companies, with 80.8% in senior secured first lien debt. As of March 31, 2026, CION had $1.17 billion of debt outstanding and a net debt-to-equity ratio of 1.62x, with non-accruals at 1.53% of the portfolio at fair value.

During the quarter, CION repurchased 1.1 million shares at an average price of $8.71, totaling $9.7 million. It also issued $135 million of 7.50% senior unsecured notes due 2031 and repaid $100 million under its JPM credit facility, while ending the quarter with $106 million in cash and short-term investments and $100 million of additional financing capacity.

CĪON Investment Corporation reported first‑quarter 2026 results showing lower net income and net asset value. Total investment income was $49.5 million, down from $56.1 million a year earlier, as interest and fee income declined across several non‑controlled and controlled investments.

Operating expenses were $36.6 million, driven mainly by $24.4 million of interest expense and management and incentive fees. Net investment income after taxes was $12.9 million versus $19.3 million in the prior‑year quarter, reflecting higher financing costs and lower yields.

Fair value of investments totaled $1.80 billion against amortized cost of $1.96 billion, and net unrealized depreciation of $36.1 million plus modest realized gains produced a $23.0 million net decrease in net assets from operations, or $(0.45) per share. Shareholders’ equity declined to $659.6 million, with net asset value per share at $13.11 compared with $13.76 at year‑end 2025.

CĪON Investment Corporation is asking shareholders to vote at its 2026 annual meeting, held virtually on June 25, 2026 at 3:00 p.m. Eastern. Holders of common stock as of April 30, 2026, when 49,789,210 shares were outstanding, are entitled to vote.

Shareholders will elect two Class II independent directors (Robert A. Breakstone and Catherine K. Choi) and vote on ratifying RSM US LLP as independent registered public accounting firm for the year ending December 31, 2026. The Board, including all independent directors, unanimously recommends voting “FOR” both proposals.

The proxy describes a majority-independent Board, detailed committee structure, and director pay, as well as related-party arrangements with its adviser CIM. It also notes an $80 million share repurchase authorization, under which the company bought about 1.77 million shares in 2025 at an average of $9.70.

CĪON Investment Corporation reported a planned change to its Board of Directors. On April 17, 2026, Class II independent director Aron I. Schwartz informed the Board that he will not stand for re-election at the 2026 Annual Meeting and will depart effective June 25, 2026, to pursue other professional opportunities.

The company states that Mr. Schwartz’s decision did not result from any disagreement regarding its operations, policies or practices. Following his decision, the Board approved reducing its size from eight to seven members, of which five will be independent, effective as of the date of the Annual Meeting.