<SEC-DOCUMENT>0001144204-18-066211.txt : 20181226
<SEC-HEADER>0001144204-18-066211.hdr.sgml : 20181226
<ACCEPTANCE-DATETIME>20181226125229
ACCESSION NUMBER:		0001144204-18-066211
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20181221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181226
DATE AS OF CHANGE:		20181226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CION Investment Corp
		CENTRAL INDEX KEY:			0001534254
		IRS NUMBER:				453058280
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00941
		FILM NUMBER:		181252132

	BUSINESS ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212 - 418 - 4700

	MAIL ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C&#298;ON Investment Corp
		DATE OF NAME CHANGE:	20111104
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv509886_8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C.&nbsp;&nbsp;20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report</B> (Date of earliest
event reported): <B>&nbsp;December 26,&nbsp;2018  </B>(December 21, 2018)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>C&#298;ON
Investment Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;(Exact Name of Registrant as Specified
in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: Black 3pt double; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maryland</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt double; padding-right: 0.8pt; text-align: center; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>000-54755</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 3pt double; padding-right: 0.8pt; text-align: center; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>45-3058280</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction of Incorporation)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission F ile Number)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 30%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>3 Park Avenue, 36 th Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>New York, New York 10016</B></P></TD>
    <TD STYLE="width: 30%; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp; (Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 30%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(212) 418-4700</B></FONT></TD>
    <TD STYLE="width: 30%; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant&rsquo;s telephone number, including area code)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 30%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not applicable</B></FONT></TD>
    <TD STYLE="width: 30%; padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(Former name or former address, if changed since last report)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Emerging growth company <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 12pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Item 1.01.
Entry Into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">On
December&nbsp;26, 2018, C&#298;ON Investment Corporation (&ldquo;CIC&rdquo;) entered into an amended and restated expense support
and conditional reimbursement agreement (the &ldquo;Amended Expense Support Agreement&rdquo;) with CION Investment Management,
LLC (&ldquo;CIM&rdquo;) for purposes of extending the termination date from December 31, 2018 to December 31, 2019.&nbsp; No other
material terms have been amended in connection with the Amended Expense Support Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
foregoing description of the Amended Expense Support Agreement is a summary only and is qualified in all respects by the provisions
of the&nbsp;Amended Expense Support Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference
herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.02. Results of Operations and
Financial Condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 21, 2018,
CIC decreased its public offering price from $9.55 per share to $9.50 per share, based on a net offering price of $9.03 per share
(net of selling commissions and dealer manager fees), which closely approximates an estimated net asset value per share of $8.81.&nbsp;This
decrease in the public offering price will become effective on CIC&rsquo;s December 26, 2018 weekly closing and will be first applied
to subscriptions received from&nbsp;December 19, 2018 through December 25, 2018. In accordance with CIC&rsquo;s previously disclosed
share pricing policy, certain of CIC&rsquo;s directors determined that a reduction in the public offering price per share was warranted
following a decline in CIC&rsquo;s net asset value per share to an amount more than 2.5% below CIC&rsquo;s then-current net offering
price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although CIC decreased
its public offering price on December 21, 2018 from $9.55 per share to $9.50 per share, CIC will maintain the amount of weekly
cash distributions payable to shareholders of $0.014067 per share resulting in an annual distribution rate of 7.70% (based on the
$9.50 per share public offering price).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">CIC&rsquo;s
board of directors (the &ldquo;Board&rdquo;) has delegated to CIC&rsquo;s executive officers the authority to determine the amount,
record dates, payment dates and other terms of distributions to shareholders, which will be ratified by the Board on a quarterly
basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">On&nbsp;December
24, 2018,&nbsp;CIC&rsquo;s co-chief executive officers declared&nbsp;regular weekly cash distributions of $0.014067 per share for
January 2019&nbsp;through March 2019.&nbsp;Each distribution will be paid monthly to shareholders of record as of the weekly record
dates set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: #D4D4D4">
    <TD STYLE="width: 31%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Record Date</B></FONT></TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Payment Date</B></FONT></TD>
    <TD STYLE="width: 36%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Distribution Amount Per Share</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 1, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 30, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 8, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 30, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 15, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 30, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 22, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 30, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 29, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 30, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 5, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 12, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 19, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 26, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 5, 2019</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 12, 2019</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 19, 2019</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 26, 2019</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 27, 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.014067</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A copy of the press
release announcing the foregoing is attached hereto as Exhibit 99.1 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01. Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On&nbsp;December
26, 2018, CIC determined that the estimated net asset value of CIC's common stock as of December 26, 2018
was $8.81 per share.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: -9pt"><B>Item 9.01.
Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="width: 90%; padding-right: 0.8pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 14%"><A HREF="tv509886_ex10-1.htm" STYLE="-sec-extract: exhibit">10.1</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; width: 85%"><A HREF="tv509886_ex10-1.htm" STYLE="-sec-extract: exhibit">Amended and Restated Expense Support and Conditional Reimbursement Agreement dated December
    26, 2018 by and between CION Investment Corporation and CION Investment Management, LLC. </A></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 14%"><A HREF="tv509886_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 85%"><A HREF="tv509886_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release
    dated&nbsp;December 26, 2018.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 34%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 33%; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp; <B><U>SIGNATURES</U></B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 5%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 46%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 49%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"><B>C&#298;ON Investment Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"><B>&nbsp;&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 26, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: <U>/s/ Michael A. Reisner</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Co-Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT LIST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 14%; border-bottom: black 1.5pt solid; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT NUMBER</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 85%; border-bottom: black 1.5pt solid; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DESCRIPTION</B></FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 14%"><A HREF="tv509886_ex10-1.htm" STYLE="-sec-extract: exhibit">10.1</A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; width: 85%"><A HREF="tv509886_ex10-1.htm" STYLE="-sec-extract: exhibit">Amended and Restated Expense Support and Conditional Reimbursement Agreement dated December
    26, 2018 by and between CION Investment Corporation and CION Investment Management, LLC. </A></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 14%"><A HREF="tv509886_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; width: 85%"><A HREF="tv509886_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press Release
    dated&nbsp;December 26, 2018.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tv509886_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0pt 0; text-indent: 378.75pt">&nbsp;</P>

<P STYLE="text-align: center; margin: 0pt 0"><B>AMENDED AND RESTATED EXPENSE SUPPORT AND CONDITIONAL REIMBURSEMENT AGREEMENT</B></P>

<P STYLE="text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">THIS AMENDED AND RESTATED EXPENSE SUPPORT AND CONDITIONAL REIMBURSEMENT AGREEMENT
(the &ldquo;<B><U>Agreement</U></B>&rdquo;) is made the 26<SUP>th</SUP> day of December, 2018, by and between CION Investment
Corporation, a Maryland corporation (the &ldquo;<B><U>Company</U></B>&rdquo;) and CION Investment Management, LLC, a Delaware
limited liability company (the &ldquo;<B><U>Adviser</U></B>&rdquo;).</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">WHEREAS, the Company is a non-diversified, closed-end management investment company
that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended (the &ldquo;<B><U>1940
Act</U></B>&rdquo;);</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">WHEREAS, the Adviser is the Company&rsquo;s investment adviser and an affiliate of
the Company;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">WHEREAS, in connection with the joint venture between Apollo Investment Management,
L.P., a Delaware limited partnership (&ldquo;AIM&rdquo;) and CION Investment Group, LLC, a Delaware limited liability company (&ldquo;CIG&rdquo;
and with AIM, the &ldquo;Members&rdquo;) the Members entered into the Fourth Amended and Restated Limited Liability Company Agreement
of the Adviser, dated as of December 4, 2017;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">WHEREAS, the Company and the Adviser previously entered into the Expense Support and
Conditional Reimbursement Agreement, dated as of January 2, 2018;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">WHEREAS, in connection with the ongoing relationship between the Members, the Adviser
has determined that it is appropriate and in the best interest of the Company and the Adviser to continue to make available expense
support to the Company;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">WHEREAS, the Company and the Adviser have determined that it is appropriate and in
the best interests of the Company to reduce the Company&rsquo;s operating expenses to ensure that it bears a reasonable level
of expense in relation to its investment income (the &ldquo;<B><U>Operating Expense Objective</U></B>&rdquo;);</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the Company and the Adviser have
determined that it is appropriate and in the best interests of the Company to endeavor to ensure that no portion of distributions
made to the Company&rsquo;s shareholders will be paid from the Company&rsquo;s offering proceeds or borrowings (the &ldquo;<B><U>Distribution
Objective</U></B>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
premises and for other good and valuable consideration, the parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B><U>Adviser Expense Payments to the Company</U>.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">1.1 Commencing with the quarter starting January
1, 2019, and on a quarterly basis thereafter, the Adviser hereby agrees to reimburse to the Company all operating expenses in an
amount sufficient to meet the Operating Expense Objective and/or the Distribution Objective. Any payments required to be made by
the Adviser pursuant to this paragraph shall be referred to herein as an &ldquo;<B><U>Expense Payment</U></B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">1.2 The Adviser&rsquo;s obligation to make
an Expense Payment shall automatically become a liability of the Adviser and the right to such Expense Payment shall be an asset
of the Company no later than the last business day of the applicable calendar quarter. The Expense Payment for any calendar quarter
shall, as promptly as possible, be: (i) paid by the Adviser to the Company in any combination of cash or other immediately available
funds, and/or (ii) offset against amounts due from the Company to the Adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">1.3 For purposes of this Agreement, &ldquo;<B><U>Available
Operating Funds</U></B>&rdquo; means the sum of (i) the Company&rsquo;s net investment company taxable income (including net short-term
capital gains reduced by net long-term capital losses), (ii) the Company&rsquo;s net capital gains (including the excess of net
long-term capital gains over net short-term capital losses), and (iii) dividends and other distributions paid to or otherwise earned
by the Company on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included
under clauses (i) and (ii) above.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">1.4 For purposes of this Agreement, &ldquo;<B><U>Reimbursable
Expenses</U></B>&rdquo; means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting
principles, that are: (i) reimbursable pursuant to the Investment Advisory Agreement dated as of June 19, 2012 between the Adviser
and the Company (the &ldquo;<B><U>Advisory Agreement</U></B>&rdquo;), (ii) reimbursable pursuant to the Administration Agreement
dated as of April 1, 2018 between the Company and the Adviser, or (iii) paid or accrued by the Adviser on behalf of the Company
and not otherwise reimbursable pursuant to Section 1.4(i) or Section 1.4(ii) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>2.</B></TD><TD STYLE="text-align: justify"><B><U>Reimbursement of Expense Payments by the Company</U>.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">2.1 Following any calendar quarter in which
Available Operating Funds exceed the cumulative distributions declared to the Company&rsquo;s shareholders in respect of such
calendar quarter and such excess is intended to be used to pay expenses qualifying as a Reimbursable Expense (the amount of such
excess being hereinafter referred to as &ldquo;<B><U>Excess Operating Funds</U></B>&rdquo;), the Company shall pay such Excess
Operating Funds, or a portion thereof in accordance with Section 2.2, to the Adviser or accrue such Excess Operating Funds as
a liability until such time as all Expense Payments made by the Adviser to the Company within three (3) years prior to the last
business day of such calendar quarter have been reimbursed or waived. Any payments required to be made by the Company pursuant
to this Section 2.1 shall be referred to herein as a &ldquo;<B><U>Reimbursement Payment</U></B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">2.2 The amount of the Reimbursement Payment
for any calendar quarter shall equal the lesser of (i) the Excess Operating Funds in such calendar quarter, or (ii) the aggregate
amount of all Expense Payments made by the Adviser to the Company (or otherwise accrued by the Adviser with respect to the Company)
within three (3) years prior to the last business day of such calendar quarter that have not been previously reimbursed by the
Company to the Adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">2.3 The Company&rsquo;s obligation to make
a Reimbursement Payment shall automatically become a liability of the Company and the proportionate right to such share of the
Reimbursement Payment shall be an asset of the Adviser no later than the last business day of the applicable calendar quarter.
The Reimbursement Payment for any calendar quarter shall, as promptly as possible, be paid by the Company to the Adviser in any
combination of cash or other immediately available funds. Any Reimbursement Payments shall be deemed to have reimbursed the Adviser
for Expense Payments in chronological order beginning with the oldest Expense Payment eligible for reimbursement under this Section
2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B><U>Effective Date; Termination; Survival</U>.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">3.1 <U>Effective Date</U>. This Agreement
shall become effective as of the date first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">3.2 <U>Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.25in">&#9;(i) Unless otherwise agreed by the parties,
this Agreement shall terminate on December 31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.25in">&#9;(ii) This Agreement may be terminated
at any time, without the payment of any penalty, by the Company or the Adviser, upon written notice to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.25in">&#9;(iii) This Agreement shall automatically
terminate in the event of (a) the termination by the Company of the Advisory Agreement, or (b) the board of directors of the Company
makes a determination to dissolve or liquidate the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.25in">&#9;(iv) Notwithstanding anything contrary
set forth in this Agreement, if this Agreement terminates automatically pursuant to Section 3.2(iii) above, or, following a termination
of this Agreement pursuant to Section 3.2(ii), an event described in Section 3.2(iii) occurs, the Company agrees to pay the Adviser
an amount equal to all Expense Payments paid to the Company within three (3) years prior to the date of such termination pursuant
to Section 3.2(iii) or the occurrence of such event, as applicable, and that have not been previously reimbursed by the Company
to the Adviser. Such repayment shall be made no later than thirty (30) days after such date of termination or the date of such
event, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">3.3 <U>Survival</U>. Sections 3 and 4 of this
Agreement shall survive any termination of this Agreement. Notwithstanding anything to the contrary, Section 2 of this Agreement
shall survive any termination of this Agreement with respect to any Expense Payments that have not been reimbursed by the Company
to the Adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"><B>4. <U>Miscellaneous</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.1 <U>Captions</U>. The captions of this
Agreement are included for convenience only and in no way define or limit any of the provisions hereof or otherwise affect their
construction or effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.2 <U>Entire Agreement</U>. This Agreement
contains the entire agreement of the parties and supersedes all prior agreements, understandings and arrangements with respect
to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.3 <U>Interpretation.</U> Notwithstanding
the place where this Agreement may be executed by any of the parties hereto, this Agreement shall be construed in accordance with
the laws of the State of Delaware. For so long as the Company is regulated as a business development company under the 1940 Act,
this Agreement shall also be construed in accordance with the applicable provisions of the 1940 Act. In such case, to the extent
the applicable laws of the State of Delaware, or any provisions herein, conflict with the provisions of the 1940 Act, the latter
shall control. Further, nothing in this Agreement shall be deemed to require the Company to take any action contrary to the Company&rsquo;s
Second Articles of Amendment and Restatement of the Articles of Incorporation and/or the Amended and Restated By-Laws, as each
may amended or restated, or to relieve or deprive the board of directors of the Company of its responsibility for and control of
the conduct of the affairs of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.4 <U>Severability</U>. If any provision
of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement
shall not be affected thereby and, to this extent, the provisions of this Agreement shall be deemed to be severable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">4.5 <U>Amendments and Counterparts</U>. This
Agreement may be amended in writing by mutual consent of the parties. This Agreement may be executed by the parties on any number
of counterparts, delivery of which may occur by facsimile or as an attachment to an electronic communication, each of which shall
be deemed an original, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be executed by their duly authorized representatives as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><B>CION INVESTMENT CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 171pt; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">By: <I><U>/s/ Michael A. Reisner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">Name: Michael
A. Reisner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">Title:&#9;Co-Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 171pt; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><FONT STYLE="text-transform: uppercase"><B>CION
Investment Management, LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><FONT STYLE="font-size: 10pt"><B>Board of Directors:</B></FONT><BR>
<BR>
<BR>
<I><U>/s/ Michael A. Reisner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">Michael A. Reisner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><BR>
<I><U>/s/ Mark Gatto&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I><BR>
Mark Gatto<BR>
<BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><I><U>/s/ Howard Widra&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I><BR>
Howard Widra</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><B>SERIES C MEMBER:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%"><B>APOLLO INVESTMENT MANAGEMENT, L.P.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">By: ACC Management, LLC, its general Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">By: <I><U>/s/ Joseph D. Glatt&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">Name: Joseph D. Glatt</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50%">Title: Vice President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 212.6pt">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0; text-align: right"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>tv509886_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 2pt; border-top: Gray 1.5pt solid; border-bottom: Gray 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 101px; width: 268px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CION INVESTMENT CORPORATION DECLARES
CASH DISTRIBUTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">----------------------------</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NEW YORK, NY (December 26, 2018) &ndash;
On December 24, 2018, the co-chief executive officers of CION&nbsp;Investment Corporation (&quot;CION&quot;), a CION Investments
company, declared&nbsp;regular weekly cash distributions for January 2019&nbsp;through March 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the regular weekly cash distributions
of $0.014067 per share will be paid monthly to shareholders of record as of the weekly record dates set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: #D4D4D4">
    <TD STYLE="width: 31%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">Record Date</TD>
    <TD STYLE="width: 33%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">Payment Date</TD>
    <TD STYLE="width: 36%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">Distribution Amount Per Share</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 1, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 30, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 8, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 30, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 15, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 30, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 22, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 30, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 29, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">January 30, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 5, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 12, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 19, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 26, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">February 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">March 5, 2019</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">March 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">March 12, 2019</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">March 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">March 19, 2019</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center">March 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center">$0.014067</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">March 26, 2019</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center">March 27, 2019</TD>
    <TD STYLE="vertical-align: bottom; border: black 1pt solid; text-align: center">$0.014067</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Certain Information About Distributions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The determination of the tax attributes
of CION&rsquo;s distributions is made annually as of the end of CION&rsquo;s fiscal year based upon its taxable income and distributions
paid, in each case, for the full year. Therefore, a determination as to the tax attributes of the distributions made on a quarterly
basis may not be representative of the actual tax attributes for a full year. CION intends to update shareholders quarterly with
an estimated percentage of its distributions that resulted from taxable ordinary income. The actual tax characteristics of distributions
to shareholders will be reported to shareholders annually on a Form 1099-DIV. The payment of future distributions on CION&rsquo;s
common stock is subject to the discretion of the Board and applicable legal restrictions, and therefore, there can be no assurance
as to the amount or timing of any such future distributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CION&nbsp;may fund&nbsp;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&nbsp;it on account of preferred and common equity investments in
portfolio companies and expense&nbsp;support from CION Investment Management, LLC (&ldquo;CIM&rdquo;), which&nbsp;is subject
to recoupment.&nbsp; On January 2, 2018,&nbsp;CION entered into an expense support and conditional reimbursement agreement
with CIM for purposes of, among other things, replacing CION Investment Group, LLC (&quot;CIG&quot;) and Apollo Investment
Management, L.P. (&quot;AIM&quot;) with CIM as the expense support provider pursuant to the terms of the expense support and
conditional reimbursement agreement.&nbsp;To date,
distributions have not been paid from offering proceeds or borrowings. &nbsp;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. &nbsp;&nbsp;CION has&nbsp; not established limits on the amount of
funds&nbsp;it may use from available sources to make distributions.&nbsp;Through December 31, 2014, a portion
of&nbsp;CION's distributions resulted from expense&nbsp;support from CIG, and future distributions may result from
expense&nbsp;support from CIM, each of&nbsp;which&nbsp;is subject to repayment by&nbsp;CION&nbsp;within three years.&nbsp;For
the years ended December 31, 2015, 2016,&nbsp;and 2017, none of&nbsp;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&nbsp;CION's investment performance, and can only
be sustained if&nbsp;CION achieves positive investment performance in future periods and/or CIM&nbsp;continues
to&nbsp;provide such expense support. Shareholders should also understand that&nbsp;CION's future repayments of
expense&nbsp;support&nbsp;will reduce the distributions that they would otherwise receive.&nbsp; There can be no assurance
that&nbsp;CION will achieve such performance in order to sustain these distributions, or be able to pay distributions at
all.&nbsp; CIM&nbsp;has no obligation to provide expense&nbsp;support to&nbsp;CION in future periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ABOUT CION INVESTMENT CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CION is a middle-market loan fund that
is structured as a publicly registered, non-traded business development company. CION offers individual investors the opportunity
to invest primarily in the senior-secured debt of private U.S. middle market companies. CION leverages the experience of its adviser
&ndash; CION Investment Management, LLC, a CION Investments company &ndash; to meet its investment objective of generating current
income and, to a lesser extent, long-term capital appreciation for its investors . For more information, please visit <U>www.cioninvestments.com</U>
..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 &ldquo;may,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;expects,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo;
&ldquo;believes,&rdquo; &ldquo;seeks,&rdquo; &ldquo;estimates,&rdquo; &ldquo;would,&rdquo; &ldquo;could,&rdquo; &ldquo;should,&rdquo;
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 c ould 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 cha nges in its expectations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OTHER INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information in this press release is
summary information only and should be read in conjunction with CION &rsquo;s Current Report on Form 8-K and Prospectus Supplement
No.&nbsp;7&nbsp;on Form 497, each of&nbsp;which CION filed with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) on&nbsp;December
26, 2018, as well as CION &rsquo;s other reports filed with the SEC. A copy of CION &rsquo;s Current Report on Form 8-K, Prospectus
Supplement No.&nbsp;7 on Form 497&nbsp;and CION&rsquo;s other reports filed with the SEC can be found on CION &rsquo;s website
at <U>www.cioninvestments.com</U> and the SEC&rsquo;s website at <U>www.sec.gov</U> .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>





</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  8$!08%! 8&!08'!P8("A *"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!# 0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P  1" !E 0P# 2(  A$! Q$!_\0
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M_9?\2QZIX$;1I''VS2)2FWN87)9#^>Y?PKV2N2K%QFTS:#O%,****@H****
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M444B@HHHH R;+PYH]CKEQK%EIUO;ZE<1^5-/$NPR+G/S <$Y'7K6M113;;W
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<@ HHHH **** "BBB@ HHHH **** "BBB@#__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
