Recent Updates — CION

David’s Bridal, Inc., a portfolio company of CĪON Investment Corporation, has entered into a non-binding letter of intent to separate its AI-powered wedding planning and commerce platform, Pearl, from the parent business. The proposed transaction involves a business combination with K&F Growth Acquisition Corp. II, valuing Pearl at an enterprise value of approximately $350 million. The deal contemplates a $75 million PIPE financing, including a potential $25 million anchor investment from CION. Pearl is projected to generate over 100% revenue growth in 2027, exceeding $85 million, with EBITDA margins above 30%. The parties anticipate closing the transaction in the first half of 2027, subject to definitive agreements and shareholder approvals. CĪON Investment Corporation is a publicly listed business development company that generates income primarily through senior secured loans to U.S. middle-market companies.

CION Investment Corporation repaid in full $114.8 million of its public Israel Series A Unsecured Notes due 2026 on August 31, 2026, and terminated its senior secured credit facility with JPMorgan Chase by repaying approximately $200 million in outstanding advances on September 25, 2026. Additionally, the company closed a strategic joint venture transaction formed with institutional investors to invest primarily in senior secured first lien loans to U.S. middle-market companies. The joint venture was capitalized with $125 million in senior secured notes and $59.7 million in membership interests, using combined proceeds to acquire a portfolio of 20 first lien loans with an aggregate par value of approximately $180.3 million at fair market value. These actions reduced the company's pro-forma estimated net leverage to approximately 1.35x as of June 30, 2026. CION Investment Corporation is a publicly listed business development company that generates income by focusing primarily on senior secured loans to U.S. middle-market companies.

CION Investment Corp entered into an Amended and Restated LLC Agreement for a new joint venture, Senior Loan Fund Partners, LLC, capitalized with $125 million in senior secured notes issued to institutional investors at 98.25% of par and $59.7 million in membership interests. CION holds 80% of the common LLC interests while investors hold 20% preferred interests carrying an 11.50% cumulative annual dividend. The joint venture acquired a portfolio of 20 senior secured first lien loans from CION with an aggregate par value of approximately $180.3 million for a fair value of $180.0 million. CION received net proceeds of approximately $132.3 million to repay outstanding debt and fund general corporate purposes. The notes bear interest at SOFR plus 4.75% with a seven-year maturity, and the joint venture has a two-year investment period governed by a four-member board requiring unanimous approval for material decisions. CION Investment Management serves as administrator. This company operates in the alternative asset management industry, specifically focusing on direct lending and credit investments.

CION Investment Corporation reported second quarter 2026 financial results, posting net investment income of $0.29 per share and earnings per share of $0.62. Net asset value increased 3.5% to $13.57 per share, driven by mark-to-market gains in equity investments. The company reduced its funded portfolio by $90 million through sales and repayments totaling $157 million while funding $67 million in new commitments. Non-accrual assets declined to 1.44% of the fair value portfolio. CION repaid approximately $125 million in JPM Credit Facility borrowings and issued an initial tranche of notes, including $28 million in 8.00% senior unsecured notes due 2031. The Board authorized a $50 million increase to its share repurchase program, raising the total authorization to $130 million. Additionally, co-CEO officers declared monthly base distributions of $0.10 per share for October, November, and December 2026. CION Investment Corporation is a publicly listed business development company that primarily invests in senior secured loans to U.S. middle-market companies.

CĪON Investment Corporation entered into Note Purchase Agreements on July 15, 2026, to issue up to $10,000,000 in 7.50% senior unsecured notes due 2029 and up to $50,000,000 in 8.00% senior unsecured notes due 2031. An initial closing on July 15, 2026, totaled $30,000,000, consisting of $2,000,000 in 2029 Notes and $28,000,000 in 2031 Notes. The company intends to use the net proceeds to repay outstanding debt and for working capital. CĪON Investment Corporation is a business development company that provides capital to middle-market companies in the US.