Alternative Investment Solutions

CION INVESTMENT CORPORATION ANNOUNCES Q1 2017 OPERATING RESULTS

May 15, 2017

CION INVESTMENT CORPORATION ANNOUNCES Q1 2017 OPERATING RESULTS

Financial Highlights:

  • Total investment return-net asset value was 1.60% during the three months ended March 31, 2017.  Since commencement of operations on December 17, 2012, total investment return-net asset value is 40.54%, an annualized return of 8.25%.
  • CION declared cash distributions to shareholders totaling approximately $20.1 million, or $0.1829 per share, during the three months ended March 31, 2017, which were fully covered by taxable income, up from approximately $19.0 million, or $0.1829 per share, during the three months ended March 31, 2016.
  • During the year three months ended March 31, 2017, CION (i) adjusted its public offering price from $10.10 to $9.57 per share as a result of a reduction of the sales load from 10% to up to 5%; (ii) increased its gross share price two times from $9.57 to $9.65 per share.
  • During the quarter, CION made approximately $161.6 million of new investments and sold or received repayment of investments totaling approximately $172.2 million, resulting in net investment activity of approximately ($10.6) million.
  • As of March 31, 2017, CION had an interest in investments in 141 portfolio companies with a fair value of $1.40 billion, of which:
    • 94.5% were senior secured investments (62.8% first lien, 31.7% second lien)? and
    • 94.0% were floating rate investments.

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