CION Investment Corp Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by CION Investment Corporation on September 18, 2013, covering events that occurred on September 13, 2013. The filing primarily addresses the declaration of cash distributions and a material modification to the company's Distribution Reinvestment Plan (DRIP).
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 disclosed relates to shareholder distributions:
- Distribution Amount: Two regular semi-monthly cash distributions of $0.030100 per share each were declared.
- Payment Date: October 1, 2013.
- Record Dates: September 15, 2013 (first distribution) and September 30, 2013 (second distribution).
Material Changes
The company amended and restated its Distribution Reinvestment Plan (DRIP), effective for distributions paid on October 1, 2013. The material change involves the discount rate applied to reinvested shares:
- Previous Terms: Shares were purchased at 95% of the public offering price.
- New Terms: Shares will now be purchased at 90% of the public offering price.
- Impact: This change increases the discount available to participating shareholders from 5% to 10%.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies beyond the standard incorporation of the amended DRIP text by reference. No unusual items were reported.
Key Facts for Investor Verification
- Verify the exact record dates (September 15 and September 30, 2013) to ensure eligibility for the declared distributions.
- Confirm the new DRIP discount rate of 90% of the public offering price for reinvestment starting October 1, 2013.
- Note that this filing does not contain updated financial performance data; refer to the most recent 10-Q or 10-K for revenue and earnings details.