CION Investment Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on March 28, 2019, reporting events occurring on March 25 and March 27, 2019. CION Investment Corporation (CIC) is a Maryland corporation reporting on the declaration of regular weekly cash distributions and the determination of its estimated net asset value (NAV).
Key Financial Metrics
- Distribution Rate: $0.014067 per share per week.
- Estimated NAV: $8.68 per share as of March 27, 2019.
- Revenue, Profit, Cash Flow, Debt: The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
The filing does not explicitly compare current distribution rates or NAV to prior comparable periods. It reports the declaration of distributions for the April through June 2019 period and the specific NAV calculation for late March 2019.
Guidance, Outlook, and Management Commentary
The Board has delegated authority to executive officers to determine distribution terms, subject to quarterly ratification. Management declared regular weekly cash distributions for the second quarter of 2019. No specific forward-looking guidance on earnings or market conditions is provided in this text.
Important Facts for Investor Verification
- Verify the total quarterly distribution amount based on the weekly rate of $0.014067.
- Confirm the record dates and payment dates for the April, May, and June 2019 distributions as listed in the filing.
- Review the methodology used to calculate the estimated NAV of $8.68 per share.
- Check the attached Press Release (Exhibit 99.1) for additional context on the distribution declaration.