Alternative Investment Solutions

CION INVESTMENT CORPORATION ANNOUNCES OPERATING RESULTS

Nov 10, 2016

CION INVESTMENT CORPORATION ANNOUNCES OPERATING RESULTS

November 10, 2016

Financial Highlights:

  • Total investment return-net asset value was 10.23% during the nine months ended September 30, 2016. Since commencement of operations on December 17, 2012, total investment return-net asset value is 34.36%, an annualized return of 8.10%.
  • CION declared cash distributions to shareholders totaling approximately $57.7 million, or $0.5487 per share, during the nine months ended September 30, 2016, which were fully covered by taxable income, up from approximately $39.5 million, or $0.5487 per share, during the nine months ended        September 30, 2015.
  • During the nine months ended September 30, 2016, CION decreased its gross share price once from $9.95 to $9.40 per share and increased its gross share price twelve times from $9.40 to $10.00 per share. Subsequent to September 30, 2016, CION increased its gross share price two times from $10.00 to $10.10 per share.
  • During the quarter, CION made approximately $302.3 million of new investments and sold or received repayment of investments totaling approximately $287.3 million, resulting in net investment activity of approximately $15.0 million.
  • As of September 30, 2016, CION had an interest in investments in 143 portfolio companies with a fair value of $1.41 billion, of which:
    • 93.1% were senior secured investments (55.4% first lien, 37.7% second lien)? and
    • 92.8% were floating rate investments.

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