CION Investment Corp. Enters Material Definitive Agreement

TL;DR

CION just signed a big financial deal, filing it today.

AI Summary

CION Investment Corp. entered into a material definitive agreement on July 15, 2024, related to a direct financial obligation. The filing, dated July 18, 2024, details this obligation under the Securities Exchange Act of 1934.

Why It Matters

This filing indicates a significant financial commitment or obligation for CION Investment Corp., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce financial risk, the specifics of which are not detailed in this initial 8-K filing.

Key Players & Entities

• CION Investment Corp. (company) — Registrant
• July 15, 2024 (date) — Date of earliest event reported
• July 18, 2024 (date) — Date of report
• 100 Park Avenue, 25th Floor New York, New York 10017 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share CION The New York Stock E
• $675,000,000 b — 34 th Street remain unchanged of up to $675,000,000 but under the Fifth Amendment, the credit

Filing Documents

• tm2419565d1_8k.htm (8-K) — 29KB
• tm2419565d1_ex10-1.htm (EX-10.1) — 760KB
• tm2419565d1_ex10-1img001.jpg (GRAPHIC) — 2KB
• 0001104659-24-080851.txt ( ) — 1121KB
• cion-20240715.xsd (EX-101.SCH) — 3KB
• cion-20240715_lab.xml (EX-101.LAB) — 33KB
• cion-20240715_pre.xml (EX-101.PRE) — 22KB
• tm2419565d1_8k_htm.xml (XML) — 4KB

01. Entry Into a Material Definitive

Item 1.01. Entry Into a Material Definitive Agreement. On July 15, 2024, 34 th Street Funding, LLC ("34 th Street"), a wholly-owned, special purpose financing subsidiary of CON Investment Corporation ("CION"), entered into a Fifth Amendment to Third Amended and Restated Loan and Security Agreement (the "Fifth Amendment") with JPMorgan Chase Bank, National Association ("JPM"), as lender and administrative agent, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as securities intermediary, and CION Investment Management, LLC, CION's investment adviser, as portfolio manager. A dvances to 34 th Street remain unchanged of up to $675,000,000 but under the Fifth Amendment, the credit spread on the floating interest rate payable by 34 th Street on all such advances was reduced from the three-month Secured Overnight Financing Rate ("SOFR") plus a credit spread of 3.20% per year to SOFR plus a credit spread of 2.55% per year . Also under the Fifth Amendment, the reinvestment period was extended from July 15, 2024 to June 15, 2026 and the maturity date was extended from May 15, 2025 to June 15, 2027 . 34 th Street incurred certain customary costs and expenses in connection with the Fifth Amendment and will pay an annual administrative fee of 0.20% on JPM's total financing commitment. No other material terms of the JPM credit facility were revised in connection with the Fifth Amendment. The foregoing description of the Fifth Amendment as set forth in this Item 1.01 is a summary only and is qualified in all respects by the provisions of such agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein .

03. Creation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. 10.1 Fifth Amendment to Third Amended and Restated Loan and Security Agreement, dated as of July 15, 2024, by and among 34th Street Funding, LLC, JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, U.S. Bank National Association and CION Investment Management, LLC. 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: July 18, 2024 By: /s/ Michael A. Reisner Co-Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR