CION Investment Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Shareholders held by CION Investment Corp on July 29, 2024. The report was filed on July 30, 2024. The record date for the meeting was May 31, 2024, with 53,565,154 shares eligible to vote and 26,248,055 shares actually voted.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on corporate governance and shareholder voting outcomes.
Material Changes and Voting Results
- Proposal No. 1 (Director Election): Passed. Two director nominees were elected to serve until the 2027 annual meeting.
- Mark Gatto: 21,578,110 votes for; 4,669,945 votes withheld.
- Michael A. Reisner: 21,575,188 votes for; 4,672,867 votes withheld.
- Proposal No. 2 (Share Issuance Flexibility): Adjourned. The proposal to authorize the sale of up to 25% of outstanding shares below net asset value did not receive sufficient votes to pass at the initial meeting.
Outlook, Management Commentary, and Risks
Management adjourned the meeting regarding the Share Issuance Proposal to solicit additional votes. A Reconvened Annual Meeting is scheduled for August 27, 2024, at 5:00 p.m. Eastern Time, to be held virtually. The May 31, 2024 record date remains in effect, and previously submitted proxies remain valid unless revoked. The filing does not contain specific management commentary on financial risks or unusual items beyond the procedural adjournment.
Key Facts for Investor Verification
- Verify the outcome of the Share Issuance Proposal at the reconvened meeting on August 27, 2024.
- Confirm the final composition of the Board of Directors following the election of Mark Gatto and Michael A. Reisner.
- Review the definitive proxy statement filed on May 31, 2024, for detailed limitations on the proposed share issuance below net asset value.