CION shareholders approve issuance of up to 25% of shares below NAV

CION Investment Corp

Proposal authorized: sell common stock up to 25% of outstanding shares at below NAV for 12 months.
Vote: 20,133,352 For, 7,847,103 Against, 1,784,884 Abstentions; no broker non-votes.
Meeting reconvened Sept 15 after July 27 adjournment to gather more votes; 29.8M of 54.7M shares voted.
Approval gives board flexibility for potential capital raising, subject to limitations in proxy.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

CION Investment Corp shareholders approved To authorize flexibility for CION, with the approval of CION's board of directors, to offer and sell shares of common stock, up to 25% of CION's outstanding shares, at a price below net asset value during the 12 months following shareholder approval at the 2023-09-15 meeting.

Outcome: passed
Meeting: 2023-09-15

Exact text from the filing

Proposal No. 2 – to authorize flexibility for CION, with the approval of CION’s board of directors, to offer and sell shares of common stock, up to 25% of CION’s outstanding shares, at a price below net asset value during the 12 months following shareholder approval, subject to certain limitations described in the proxy statement (the “Share Issuance Proposal”). The Share Issuance Proposal was approved by CION’s shareholders at the reconvened Annual Meeting.

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Source: SEC EDGAR

accession 0001104659-23-101269

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