CION Investment Corp to Acquire American Finance Trust Assets
Ticker: CICB · Form: 8-K · Filed: Jul 22, 2024 · CIK: 1534254
| Field | Detail |
|---|---|
| Company | Cion Investment Corp (CICB) |
| Form Type | 8-K |
| Filed Date | Jul 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, asset-purchase, m&a
Related Tickers: AFT
TL;DR
CION buying AFT assets, deal expected Q4 2024, should boost earnings.
AI Summary
CION Investment Corp. announced on July 22, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of American Finance Trust, Inc. (AFT). The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This acquisition is anticipated to be accretive to CION's distributable earnings per share.
Why It Matters
This acquisition could significantly expand CION's asset base and potentially increase its revenue and profitability, impacting its market position and shareholder value.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions and potential integration challenges, which could impact the realization of expected benefits.
Key Numbers
- Q4 2024 — Expected Closing Quarter (Indicates the timeframe for the completion of the acquisition.)
Key Players & Entities
- CION Investment Corp. (company) — Registrant and acquirer
- American Finance Trust, Inc. (AFT) (company) — Target company whose assets are being acquired
- July 22, 2024 (date) — Date of the definitive agreement announcement
- fourth quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing is to report the entry into a definitive agreement by CION Investment Corp. to acquire substantially all of the assets of American Finance Trust, Inc. (AFT).
When is the acquisition of AFT's assets expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
What is the anticipated financial impact of this acquisition on CION Investment Corp.?
The acquisition is anticipated to be accretive to CION's distributable earnings per share.
Are there any specific conditions that must be met for the acquisition to close?
Yes, the transaction is subject to customary closing conditions.
What is the full name of the company filing this report?
The full name of the registrant is CION Investment Corporation.
Filing Stats: 534 words · 2 min read · ~2 pages · Grade level 10.6 · Accepted 2024-07-22 08:43:56
Key Financial Figures
- $0.001 — ch registered Common stock, par value $0.001 per share CION The New York Stock E
Filing Documents
- tm2419777d1_8k.htm (8-K) — 29KB
- tm2419777d1_ex99-1.htm (EX-99.1) — 9KB
- tm2419777d1_ex99-1img001.jpg (GRAPHIC) — 7KB
- 0001104659-24-081354.txt ( ) — 220KB
- cion-20240722.xsd (EX-101.SCH) — 3KB
- cion-20240722_lab.xml (EX-101.LAB) — 33KB
- cion-20240722_pre.xml (EX-101.PRE) — 22KB
- tm2419777d1_8k_htm.xml (XML) — 4KB
01. Regulation
Item 7.01. Regulation FD Disclosure. On July 22, 2024, CON Investment Corporation ("CION") issued a press release announcing the amendment to and extension of its senior secured credit facility with JPMorgan Chase Bank, National Association. A copy of the press release announcing the foregoing is attached hereto as Exhibit 99.1. The information disclosed under this Item 7.01, including Exhibit 99.1 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 of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release dated July 22, 2024. 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 22, 2024 By: /s/ Michael A. Reisner Co-Chief Executive Officer EXHIBIT LIST EXHIBIT NUMBER DESCRIPTION 99.1 Press Release dated July 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).