CION Investment Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on February 7, 2014, reporting events that occurred on February 4, 2014. CION Investment Corporation (CION) is a Maryland corporation engaged in a public offering of shares.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on changes to the public offering price and shareholder distributions.
Material Changes
- Public Offering Price: The Board approved an increase in the public offering price from $10.32 per share to $10.45 per share, effective February 5, 2014.
- Applicability: The new price applies to subscriptions received between January 16, 2014, and February 4, 2014.
- Cash Distributions: Weekly cash distributions were increased from $0.013895 per share to $0.014067 per share for shareholders of record on February 11, February 18, and February 25, 2014.
- Yield Maintenance: The distribution increase was implemented to maintain an annual distribution yield of 7.00% based on the new $10.45 offering price.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies beyond the immediate price adjustment. No unusual items were reported.
Investor Verification Checklist
- Confirm the exact subscription dates (January 16, 2014, through February 4, 2014) to determine eligibility for the $10.45 offering price.
- Verify the record dates (February 11, 18, and 25, 2014) for the increased weekly cash distribution of $0.014067 per share.
- Review the attached press release (Exhibit 99.1) for additional context on the pricing decision.