Each of the regular weekly cash distributions of $0.014067 per share (an annualized yield of 7.58% based on CION's current $9.65 per share public offering price) will be paid monthly to shareholders of record as of the weekly record dates set forth below.

 

Record Date	Payment Date	Distribution Amount Per Share
August 1, 2017	August 30, 2017	$0.014067
August 8, 2017	August 30, 2017	$0.014067
August 15, 2017	August 30, 2017	$0.014067
August 22, 2017	August 30, 2017	$0.014067
August 29, 2017	August 30, 2017	$0.014067
September 5, 2017	September 27, 2017	$0.014067
September 12, 2017	September 27, 2017	$0.014067
September 19, 2017	September 27, 2017	$0.014067
September 26, 2017	September 27, 2017	$0.014067

 

CION may fund its cash distributions to shareholders from any sources of funds available to it, including offering proceeds, borrowings, net investment income from operations, capital gains proceeds from the sale of assets, non-capital gains proceeds from the sale of assets, dividends or other distributions paid to it on account of preferred and common equity investments in portfolio companies and expense support from CION Investment Group, LLC (formerly, ICON Investment Group, LLC) (“CIG”) and Apollo Investment Management, L.P. ("AIM"), which is subject to recoupment. To date, distributions have not been paid from offering proceeds or borrowings. In certain prior periods, if expense support from CIG were not supported, some or all of the distributions may have been a return of capital; however, distributions have not included a return of capital as of the date hereof.  CION has not established limits on the amount of funds it may use from available sources to make distributions. Through December 31, 2014, a portion of CION’s distributions resulted from expense support from CIG, and future distributions may result from expense support from CIG and AIM, each of which is subject to repayment by CION within three years. For the years ended December 31, 2015 and 2016, none of CION's distributions resulted from expense support from CIG or AIM. The purpose of this arrangement is to avoid such distributions being characterized as returns of capital. Shareholders should understand that any such distributions are not based on CION’s investment performance, and can only be sustained if CION achieves positive investment performance in future periods and/or CIG and AIM continue to provide such expense support. Shareholders should also understand that CION’s future repayments of expense support will reduce the distributions that they would otherwise receive. There can be no assurance that CION will achieve such performance in order to sustain these distributions, or be able to pay distributions at all. CIG and AIM have no obligation to provide expense support to CION in future periods.

 

 

FORWARD-LOOKING STATEMENTS

 

The information in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are identified by words such as “may,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” and variations of these words and similar expressions, including references to assumptions and forecasts of future results. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. CION undertakes no obligation to update any forward-looking statements contained herein to conform the statements to actual results or changes in its expectations.

 

OTHER INFORMATION

 

The information in this press release is summary information only and should be read in conjunction with CION’s Current Report on Form 8-K and Prospectus Supplement No. 6 on Form 497, each of which CION filed with the Securities and Exchange Commission (“SEC”) on July 19, 2017, as well as CION’s other reports filed with the SEC. A copy of CION’s Current Report on Form 8-K, Prospectus Supplement No. 6 on Form 497 and CION’s other reports filed with the SEC can be found on CION’s website at www.cioninvestments.com and the SEC’s website at www.sec.gov.