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NEW YORK, Oct. 05, 2021 (World NEWSWIRE) — CION Investment Corporation (“CIC”), a primary publicly stated company advancement firm, is delighted to announce that these days its shares of common inventory commenced investing on the New York Inventory Exchange (“NYSE”) less than the ticker image “CION”.
Mark Gatto and Michael A. Reisner, co-Main Government Officers of CIC, stated, “We are really excited to entire the listing of CIC’s shares on the NYSE and deliver on our motivation to shareholders. As beforehand mentioned, we feel listing CIC’s shares affords shareholders various positive aspects, which include the prospective for elevated versatility and improved liquidity of their shares. In addition, we believe that the listing facilitates a range of initiatives to aid maximize shareholder benefit.”
As earlier announced, on Sept. 21, 2021, CIC effected a 2-to-1 reverse break up of its shares of typical stock. As a end result, each two shares of CIC widespread stock issued and excellent was automatically blended into a single share of CIC prevalent stock, with the selection of issued and remarkable shares minimized from close to 113.9 million to somewhere around 57. million. As modified to give impact to the reverse inventory break up, (i) CIC’s web asset value for each share as of June 30, 2021, would have been $16.34 (alternatively of $8.17 for every share) and (ii) the earlier declared (A) fourth quarter common dollars distribution of $.1324 for each share will be compensated at a per share distribution amount of money of $.2648 and (B) calendar year-close particular money distribution expected to be in the range of $.07 to $.10 for each share will be paid at a for every share distribution quantity anticipated to be in the assortment of $.14 to $.20. There was no alter in the par benefit of $.001 per share as a final result of the reverse inventory split. In addition, the reverse stock split did not modify the rights or preferences of CIC’s frequent stock.
CIC also earlier announced that, on Sept. 15, 2021, CIC’s Board of Directors accredited a share repurchase coverage authorizing CIC to repurchase up to $50 million of its remarkable widespread stock subsequent the listing of its shares on the NYSE. The amount of shares repurchased and the timing, way, value and amount of money of any repurchases will be identified at CIC’s discretion. The policy may perhaps be suspended or discontinued at any time and does not obligate CIC to get any distinct quantity of shares of its prevalent inventory.
Wells Fargo Securities LLC is performing as direct advisor to CIC in relationship with the listing. Dechert LLP is acting as legal advisor to CIC.
ABOUT CION Financial investment Company
CIC is a leading publicly outlined business enterprise growth firm that at present has approximately $1.8 billion in belongings. CIC focuses generally on senior secured loans to U.S. center-sector businesses. CIC is recommended by CION Expenditure Administration, LLC, a registered financial commitment adviser and an affiliate of CIC. For much more information and facts, you should take a look at www.cionbdc.com.
ABOUT CION INVESTMENTS
CION Investments is a primary manager of alternate investment decision options built to redefine the way specific buyers can construct their portfolios and assist meet up with their extensive-phrase financial investment ambitions. CION Investments currently sponsors CIC, a foremost publicly outlined small business advancement company that at this time manages about $1.8 billion in belongings. CION Investments also sponsors, through CION Ares Administration, LLC, CION Ares Diversified Credit score Fund, a globally diversified credit score interval fund with close to $2. billion in overall managed property. For a lot more info, please pay a visit to www.cioninvestments.com.
Ahead-Seeking STATEMENTS
The facts in this press release is made up of forward-searching statements in the indicating of the federal securities legislation. These ahead-searching statements are recognized by words and phrases these as “may possibly,” “anticipates,” “expects,” “intends,” “options,” “thinks,” “seeks,” “estimates,” “would,” “could,” “should,” and variations of these text and comparable expressions, including references to assumptions, forecasts of long term final results, shareholder diversification, institutional research coverage and availability and accessibility to money. These statements are not assures of upcoming performance and are subject to risks, uncertainties and other components, some of which are further than our regulate and are tough to predict, this sort of as the rate at which CIC’s shares of typical stock will trade on the NYSE, and could lead to true final results to differ materially from people expressed or forecasted in the forward-wanting statements. CIC undertakes no obligation to update any forward-hunting statements contained herein to conform the statements to real success or adjustments in its anticipations.
OTHER Facts
The data in this press launch is summary info only and ought to be go through in conjunction with CIC’s Latest Studies on Form 8-K, which CIC submitted with the SEC on Sept. 16, 2021, Sept. 22, 2021 and Oct. 5, 2021, as well as CIC’s other stories filed with the SEC. A copy of CIC’s Present-day Reviews on Sort 8-K and CIC’s other stories filed with the SEC can be observed on CIC’s web-site at www.cionbdc.com and the SEC’s website at www.sec.gov.
CONTACTS
Media
Alexander Cavalieri
[email protected]
Investor Relations
1-800-343-3736
Analysts and Institutional Investors
Jeehae Linford
The Equity Team
[email protected]
212-836-9615
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