CION Investment Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on May 16, 2013, reporting events occurring on May 15, 2013. CION Investment Corporation (CION) is a Maryland corporation focused on providing regular cash distributions to shareholders.
Key Financial Metrics
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity. The primary financial metric disclosed is the adjustment of the semi-monthly cash distribution rate to maintain a target annual yield.
- Public Offering Price: Increased from $10.19 to $10.24 per share.
- Target Annual Distribution Yield: 7.00%.
- Previous Distribution Rate: $0.029721 per share.
- New Distribution Rate: $0.029867 per share.
Material Changes
The Board of Directors approved an increase in the public offering price effective May 16, 2013. Consequently, the semi-monthly cash distribution payable to shareholders of record as of May 31, 2013, was increased to maintain the 7.00% annual yield based on the new offering price.
Guidance, Outlook, and Management Commentary
Management declared two regular semi-monthly cash distributions payable on June 3, 2013. The first distribution, at the rate of $0.029721 per share, applies to shareholders of record as of May 15, 2013. The second distribution, at the increased rate of $0.029867 per share, applies to shareholders of record as of May 31, 2013. The filing does not contain forward-looking guidance, risk factors, or discussion of unusual items beyond the price and distribution adjustment.
Investor Verification Checklist
- Verify the record dates for the two distinct distribution rates (May 15, 2013, and May 31, 2013).
- Confirm the payment date of June 3, 2013, for both distributions.
- Review the attached press release (Exhibit 99.1) for additional context on the price adjustment.
- Note that this filing does not contain operational financial results (revenue, net income, or cash flow).