CION Investment Corp Reports Significant Decline in Net Assets and NAV, Issues $135M in New Notes
CION is trading near its 52-week low of $7.54 (1.1% above the low).
Summary
CION Investment Corp reported a significant decline in net assets and NAV per share for 2025, alongside increased realized and unrealized investment losses. The company issued $135M in new notes and expanded its share repurchase program.
Key Events · Earnings and Guidance · CION
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Net Assets from Operations Decline
Net assets resulting from operations shifted from an increase of $33.9 million in 2024 to a decrease of $20.6 million in 2025.
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Net Asset Value (NAV) Per Share Decreases
NAV per share fell to $13.76 as of December 31, 2025, down from $15.43 at December 31, 2024.
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Increased Investment Losses
The company reported a net realized loss on investments of $39.6 million in 2025, up from $28.3 million in 2024, and net unrealized depreciation significantly increased to $74.1 million in 2025 from $33.6 million in 2024.
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New Debt Issuance
CION Investment Corp issued and sold $135 million in 7.50% Notes due 2031 on February 9, 2026, increasing its total outstanding unsecured indebtedness.
Analysis · CION · Unknown
CION Investment Corp's annual report reveals a notable deterioration in financial performance for 2025. The company experienced a significant shift from a net increase in net assets from operations in 2024 to a net decrease in 2025, driven by substantial increases in both realized and unrealized losses on investments. This led to a material decline in Net Asset Value (NAV) per share. To manage its capital structure, the company issued a substantial amount of new unsecured notes in early 2026, increasing its total outstanding indebtedness. Concurrently, the board expanded its share repurchase program, a positive signal of management's confidence, especially with the stock trading near 52-week lows. However, the overall financial trends indicate increasing challenges in its investment portfolio and profitability.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 34.7% of the 1013 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.50%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CION was trading at $7.62 on NYSE in the Unknown sector, with a market capitalization of approximately $396.8M. The 52-week trading range was $7.54 to $12.44. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.