CION Investment Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by CION Investment Corporation (CIC) on December 26, 2019, covering events occurring on December 20, 2019, and December 26, 2019. The company is incorporated in Maryland and operates as an investment corporation.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only specific financial data point disclosed is the estimated net asset value (NAV) of CIC's common stock, which was determined to be $8.22 per share as of December 26, 2019.
Material Changes
On December 20, 2019, CIC entered into a Second Amended and Restated Expense Support and Conditional Reimbursement Agreement with its advisor, CION Investment Management, LLC (CIM). The primary material change is the extension of the agreement's termination date from December 31, 2019, to December 31, 2020. No other material terms were amended.
Outlook, Risks, and Management Commentary
Management commentary is limited to the execution of the expense support agreement extension. The filing does not contain forward-looking guidance, specific risk factors, or discussion of contingencies beyond the standard incorporation of the agreement by reference. The extension of the expense support agreement suggests management's intent to maintain the current operational cost structure for the upcoming year.
Key Facts for Investor Verification
- Expense support agreement with CIM extended through December 31, 2020.
- Estimated Net Asset Value (NAV) per share was $8.22 as of December 26, 2019.
- No other material terms of the expense support agreement were changed.
- The full text of the Second Amended Expense Support Agreement is attached as Exhibit 10.1.