CION Investment Corp

Listed Company

CICBCIK 0001534254NYSEAcceleratedMarylandFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-20.63M

Total Assets

$1.85B

Equity

$707.63M

Shares Out

50.50M

Op. Cash Flow

$76.83M

Business

CION Investment Corp is an externally managed, non-diversified closed-end management investment company that operates as a business development company (BDC) investing in private and thinly traded companies. It primarily originates and acquires credit investments, focusing on senior secured debt (first lien, second lien and unitranche), as well as collateralized securities, unsecured debt and selective equity and equity-related instruments. Key business components include investment management provided by CIM, financing and leverage arrangements through consolidated financing subsidiaries, and a joint venture partnership for opportunistic co-investments. The company targets primarily U.S. middle‑market companies (with limited foreign investments) and distributes and lists securities via public exchanges and private placements supported by its affiliate distribution network.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fee income	20	18	12	10	6
Total investment income	241	252	251	195	157
Management fees	26	27	27	27	31
Administrative services expense	5	5	4	3	3
Subordinated incentive fee on income	20	20	22	19	7
General and administrative	6	7	7	7	10
Interest expense	91	97	86	50	—
Total operating expenses	148	156	146	106	83
Net investment income before taxes	93	96	105	89	75
Income tax (benefit) expense, including excise tax	−85,000	107,000	−54,000	372,000	342,000
Net investment income after taxes	93	96	105	88	74
Net realized losses on:	−40	−28	−32	−33	843,000
Net realized losses	−40	−28	−32	−33	840,000
Net change in unrealized depreciation on investments	−74	−34	22	−5	44
Net realized and unrealized losses	−114	−62	−10	−38	44
Net (decrease) increase in net assets resulting from operations	−21	34	95	50	119
Net (decrease) increase in net assets per share resulting from operations (in dollars per share)	−0.39	0.63	1.74	0.89	2.09
Net investment income per share (in dollars per share)	1.78	1.79	1.92	1.56	1.31
Net investment income per share - diluted (in dollars per share)	1.78	1.79	1.92	—	—
Weighted average shares of common stock outstanding - basic (in shares)	52	54	55	56,557	56,809
Weighted average shares of common stock outstanding - diluted (in shares)	52	54	55	56,557	56,809

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31
Investments, at fair value:	1,813	—	—	—	1,889
Cash	8	—	—	—	8
Interest and fees receivable on investments	28	—	—	—	45
Receivable due on investments sold and repaid	4	—	—	—	3
Prepaid expenses and other assets	2	—	—	—	1
Total assets	1,855	—	—	—	1,946
Financing arrangements (net of unamortized debt issuance costs of $14,263 and $18,156, respectively)	1,126	—	—	—	1,099
Payable for investments purchased	3	—	—	—	1
Accounts payable and accrued expenses	785,000	—	—	—	1
Interest payable	6	—	—	—	8
Accrued management fees	6	—	—	—	7
Accrued subordinated incentive fee on income	4	—	—	—	4
Accrued administrative services expense	2	—	—	—	2
Shareholder distribution payable	0	—	—	—	3
Share repurchases payable	27,000	—	—	—	40,000
Total liabilities	1,147	—	—	—	1,125
Commitments and contingencies (Note 4 and Note 11)	—	—	—	—	—
Common stock, $0.001 par value; 500,000,000 shares authorized; 54,184,636 and 54,184,636 shares issued and 54,184,636 and 54,184,636 shares outstanding, respectively	51,000	—	—	—	53,000
Capital in excess of par value	1,004	—	—	—	1,022
Accumulated distributable losses	−297	—	—	—	−201
Total shareholders' equity	708	—	—	—	821
Total liabilities and shareholders' equity	1,855	—	—	—	1,946
Net asset value per share of common stock at end of period (in dollars per share)	13.76	14.86	14.5	14.28	15.43

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net accretion of discount on investments	−26	−17	−14	−11	−12
Proceeds from principal repayment of investments	349	444	287	407	569
Purchase of investments	−264	−464	−350	−551	−920
Paid-in-kind interest and dividends capitalized	−52	−45	−32	−31	−22
(Increase) decrease in short term investments, net	−47	45	−103	77	−14
Proceeds from sale of investments	19	43	13	63	259
Amortization of debt issuance costs	8	6	4	3	3
(Increase) decrease in interest receivable on investments	481,000	−11	−16	−3	−4
(Increase) decrease in dividends receivable on investments	0	0	1	−1	45,000
(Increase) decrease in receivable due on investments sold and repaid	−734,000	−2	49,000	2	3
(Increase) decrease in prepaid expenses and other assets	−708,000	83,000	−523,000	−359,000	1
Increase (decrease) in payable for investments purchased	2	−4	5	−11	11
Increase (decrease) in accounts payable and accrued expenses	−249,000	−2,000	24,000	−910,000	1
Increase (decrease) in interest payable	−2	−2	2	3	2
Increase (decrease) in accrued management fees	−338,000	−132,000	−31,000	251,000	−995,000
Increase (decrease) in accrued administrative services expense	176,000	−150,000	453,000	108,000	330,000
Increase (decrease) in subordinated incentive fee on income payable	−82,000	−651,000	−450,000	1	−381,000
Increase (decrease) in share repurchase payable	−13,000	40,000	0	0	—
Net cash provided by (used in) operating activities	77	88	−97	35	−49
Repurchase of common stock	−17	−11	−12	−15	−10
Shareholders' distributions paid	−78	−89	−92	−67	−56
Repayments under financing arrangements	−170	−278	−103	0	−171
Borrowings under financing arrangements	193	303	237	128	276
Debt issuance costs paid	−4	−13	−9	−2	−5
Net cash (used in) provided by financing activities	−76	−89	23	44	33
Net increase (decrease) in cash	489,000	−745,000	−74	79	−16
Cash paid for interest	85	93	79	43	27
Restructuring of portfolio investment	136	93	118	51	5
Equity investments received in settlement of fee income	21	0	0	—	—
Cash interest receivable exchanged for additional securities	17	3	5	0	1

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro