Cion Investment Net Asset Value Per Share Falls 4.7% On Mark: to-market losses

CION Investment

07/05/2026 13:10

Overview

U.S. business development company reported Q1 net investment income per share of $0.25

Net asset value per share fell 4.7% to $13.11 as of March 31, 2026, mainly from mark-to-market adjustments

Company repurchased 1.1 mln shares for $9.7 mln during the quarter

Outlook

CION declares base distributions of $0.10 per share for July, August and September 2026

Company says first lien focused strategy expected to continue into 2026

CION says portfolio construction remains defensive with low software exposure

Result Drivers

LOWER INVESTMENT INCOME - Decrease in total investment income was mainly due to lower transaction fees from reduced repayment and investment activity, and lower dividend income

HIGHER INTEREST EXPENSE - Operating expenses rose primarily due to increased interest expense from higher average debt outstanding and higher weighted average cost of debt capital, following refinancing and repayment activities

MARK-TO-MARKET LOSSES - Decline in net asset value per share was mainly due to unrealized mark-to-market price adjustments to certain investments

Company press release: ID:nBw55B1hZa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales & Repayments
$38 mln
Q1 EPS
-$0.45
Q1 Investments Fair Value
$1.70 bln
Net Asset Value Per Share
$13.11
Q1 Operating Expenses
$36.67 mln


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)