CION Investment Corp Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by CION Investment Corp on September 28, 2017, covering events occurring on September 27 and September 28, 2017. The filing primarily addresses the declaration of regular weekly cash distributions for the fourth quarter of 2017 and the determination of the company's estimated net asset value (NAV).
Key Financial Metrics
- Estimated Net Asset Value (NAV): $9.17 per share as of September 27, 2017.
- Distribution Rate: $0.014067 per share per week for the period of October 2017 through December 2017.
- Revenue, Profit, and Cash Flow: 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 detail material changes in financial performance compared to prior periods. It focuses on the administrative declaration of distributions and the current NAV calculation.
Guidance, Outlook, and Management Commentary
Management has declared regular weekly cash distributions totaling $0.014067 per share for each week in Q4 2017. These distributions are scheduled to be paid monthly to shareholders of record on specific weekly dates. The Board of Directors retains the authority to ratify these distributions quarterly.
Investor Verification Checklist
- Verify the total quarterly distribution amount based on the weekly rate of $0.014067.
- Confirm the record dates and payment dates for the October, November, and December distributions.
- Review the attached press release (Exhibit 99.1) for additional context on the NAV calculation methodology.
- Check subsequent filings for the Board's ratification of these distributions.