CION Investment Corporation Announces $150 Million Unsecured Notes Offering Due 2029

CION Investment Corporation Announces $150 Million Unsecured Notes Offering Due 2029

CION Investment Corporation has announced a public offering of $150 million in unsecured notes due December 30, 2029. The company expects to net approximately $145.4 million after underwriting discounts and expenses. The notes, which will bear an annual interest rate of 7.50%, are redeemable starting December 30, 2026. Investors can purchase these notes in $25 denominations, and interest will be paid quarterly, beginning December 30, 2024.

Additionally, underwriters have a 30-day option to purchase up to an additional $22.5 million to cover any overallotments. The offering is anticipated to close on October 3, 2024, pending customary conditions, and the notes are set to be listed on the New York Stock Exchange under the symbol "CICB."

The proceeds from the notes will be used to pay down borrowings under CION's senior secured credit facility with JPMorgan Chase Bank. The joint book-running managers for this offering include Keefe, Bruyette & Woods, Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC, and Oppenheimer & Co. Inc.

Investors are urged to read the preliminary prospectus supplement and the accompanying base prospectus, filed with the SEC, for detailed information on the investment objectives, risks, and expenses. Copies can be obtained from Keefe, Bruyette & Woods, Inc. or through the SEC's EDGAR database.

CION Investment Corporation, a prominent business development company, had approximately $2 billion in total assets as of June 30, 2024. The company primarily invests in senior secured loans to U.S. middle-market companies, aiming to generate current income and capital appreciation.

Forward-Looking Statements

This announcement contains forward-looking statements, which involve risks and uncertainties. These statements are based on current expectations and beliefs about future events. Actual results may differ materially due to various factors, including those outlined in the "Risk Factors" section of CION's SEC filings. CION does not undertake any obligation to update these statements except as required by law.