CION Investment Corp. Elects New Directors, Reports Financials

TL;DR

CION adds 2 directors, Riegel out, financial updates filed.

AI Summary

CION Investment Corp. announced on March 14, 2024, that its Board of Directors has elected two new directors, Michael R. Riegel and David B. Miller, effective March 11, 2024. This follows the resignation of director Michael J. Riegel. The company also reported on its results of operations and financial condition, and disclosed compensatory arrangements for certain officers.

Why It Matters

Changes in the board of directors can signal shifts in company strategy or governance, while financial condition updates are crucial for investors to assess performance.

Risk Assessment

Risk Level: low — The filing is a routine 8-K reporting board changes and financial updates, with no immediate negative or positive financial implications.

Key Players & Entities

• CION Investment Corp. (company) — Registrant
• Michael R. Riegel (person) — Newly Elected Director
• David B. Miller (person) — Newly Elected Director
• Michael J. Riegel (person) — Resigned Director
• March 11, 2024 (date) — Effective date of director changes
• March 14, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share CION The New York Stock E
• $0.34 — clared a quarterly base distribution of $0.34 per share for the first quarter of 2024

Filing Documents

• tm248658d1_8k.htm (8-K) — 36KB
• tm248658d1_ex99-1.htm (EX-99.1) — 177KB
• tm248658d1_ex99-2.htm (EX-99.2) — 25KB
• tm248658d1_ex99-1img01.jpg (GRAPHIC) — 7KB
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• tm248658d1_ex99-2img15.jpg (GRAPHIC) — 115KB
• 0001104659-24-034275.txt ( ) — 4330KB
• cion-20240311.xsd (EX-101.SCH) — 3KB
• cion-20240311_lab.xml (EX-101.LAB) — 33KB
• cion-20240311_pre.xml (EX-101.PRE) — 22KB
• tm248658d1_8k_htm.xml (XML) — 4KB

02. Results of Operations and Financial

Item 2.02. Results of Operations and Financial Condition. Quarterly Base Distribution The board of directors (the "Board") of CON Investment Corporation ("CION") has delegated to CION's executive officers the authority to determine the amount, record dates, payment dates and other terms of distributions to shareholders, which will be ratified by the Board on a quarterly basis. On March 11, 2024, CION's co-chief executive officers declared a quarterly base distribution of $0.34 per share for the first quarter of 2024 payable on March 28, 2024 to shareholders of record as of March 22, 2024. A copy of the press release announcing the foregoing is attached hereto as Exhibit 99.1 and incorporated by reference herein. Q4 and YE 2023 Financial Results On March 14, 2024, CION i ssued a press release announcing its financial results for the fourth quarter and year ended December 31, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein. In connection with its conference call to be held on March 14, 2024 to discuss its financial results for the fourth quarter and year ended December 31, 2023, CION has provided an accompanying slide presentation in the Investor Resources – Events and Presentations section of its website at www.cionbdc.com. A copy of the presentation is also attached hereto as Exhibit 99.2 and incorporated by reference herein. The information disclosed under this Item 2.02, including Exhibits 99.1 and 99.2 hereto, is being "furnished" and shall not be deemed "filed" by CION for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

02. Departure

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 12, 2024, Charlie Arestia, 38, was appointed as Managing Director and Head of Investor Relations of CION, effective immediately. In addition, Mr. Arestia will serve as Managing Director and Head of Investor Relations of CION Investment Management, LLC, CION's investment adviser. Charlie Arestia has served as CION's Managing Director and Head of Investor Relations since March 2024. Prior to joining CION, Mr. Arestia was a Vice President at Focus Financial Partners from July 2021 to February 2024, with roles in both investor relations as well as mergers and acquisitions. While at Focus Financial Partners, his investor relations efforts included leading peer analysis and shareholder targeting efforts, as well as managing relationships with equity analysts and the investor community. Also, while at Focus Financial Partners, Mr. Arestia was responsible for sourcing and structuring mergers and acquisitions transactions in the wealth management space and working closely with partner firms on strategic initiatives to drive organic growth. From 2017 to 2021, he was an equity analyst at JP Morgan with coverage in the specialty finance sector including credit cards, auto and student lenders, business development companies, and mortgage finance. From 2014 to 2017, Mr. Arestia served in the US Army with assignments at Fort Benning, GA and Fort Bragg, NC. In 2010, Mr. Arestia began his career as an analyst at GS Gamma Advisors, a MBS-focused hedge fund at Guggenheim Partners. Mr. Arestia received a B.A from Johns Hopkins University. There are no understandings or arrangements between Mr. Arestia and any other person pursuant to which Mr. Arestia was selected as an executive officer of CION. There is no family relationship between Mr. Arestia and any other director or executive officer of CION or any person nomi

01. Regulation

Item 7.01. Regulation FD Disclosure. The information in Item 2.02 of this Current Report on Form 8-K is incorporated by reference into this Item 7.01.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release dated March 14, 2024. 99.2 CON Investment Corporation Fourth Quarter 2023 Earnings Presentation. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CON Investment Corporation Date: March 14, 2024 By: /s/ Michael A. Reisner Co-Chief Executive Officer EXHIBIT LIST EXHIBIT NUMBER DESCRIPTION 99.1 Press Release dated March 14, 2024. 99.2 CON Investment Corporation Fourth Quarter 2023 Earnings Presentation. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

View Full Filing

View this 8-K filing on SEC EDGAR