---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-058039"
form_type: "8-K"
ticker: "CION"
cik: "0001534254"
company_name: "CION Investment Corp"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:18:07.758055+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CION Q1 2023 NII $0.54/share, EPS -$0.56; NAV down to $15.11; non-accruals jump to 6.8%

## Summary
- Net investment income $0.54 per share (up from $0.43 in Q4 2022); net loss $(0.56) per share.
- Net asset value per share fell to $15.11 from $15.98, driven by underperformance of certain investments.
- Non-accrual investments rose to 6.8% of portfolio at amortized cost (from 2.0% in Q4 2022).
- Declared Q2 2023 distribution of $0.34 per share, payable June 15, 2023.
- Completed $80.7M unsecured Series A Notes offering in Israel due 2026 at SOFR+3.82%.

## SEC filing metadata
- accession: 0001104659-23-058039
- form_type: 8-K
- ticker: CION
- cik: 0001534254
- company_name: CION Investment Corp
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 5.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534254/000110465923058039/0001104659-23-058039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534254/000110465923058039/tm2315003d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-058039
- JSON: https://secwatch.observer/filing/0001104659-23-058039.json
- Plain text: https://secwatch.observer/filing/0001104659-23-058039.txt

## Key facts
- Earnings Releases
  CION Investment Corp reported first quarter ended March 31, 2023 results: revenue $65.0 million, net income $ (31,045 ), EPS $(0.56) per share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $65.0 million
  - Net income: $ (31,045 )
  - EPS: $(0.56) per share
  - Result: reported results
  source text: per share $ 0.34 $ 0.58 * *Includes a special distribution of $0.27 per share. Total investment income for the three months ended March 31, 2023 and December 31, 2022 was $65.0 million and $55.5 million, respectively. The increase in investment income was primarily driven by an increase in LIBOR and SOFR rates, dividend income from certain investments and fees
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534254/000110465923058039/0001104659-23-058039-index.htm
- Governance Changes
  CION Investment Corp: Amended and restated Code of Ethics with technical, administrative and non-substantive changes (effective 2023-05-08).
  - Change: code of ethics
  - Effective: 2023-05-08
  source text: On May 8, 2023, the Board adopted an amended and restated Code of Ethics (the “Code of Ethics”) reflecting certain technical, administrative and other non-substantive changes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534254/000110465923058039/0001104659-23-058039-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.