Business Context and Reporting Period
Company: CION Investment Corporation (CIC)
Filing Type: Form 8-K (Current Report)
Report Date: September 8, 2021 (Earliest event reported: September 7, 2021)
Context: This filing reports the results of a reconvened Annual Meeting of Shareholders held on September 7, 2021, and the commencement of final steps to list CIC's shares on the New York Stock Exchange (NYSE).
Key Financial Metrics
This Form 8-K is a current report regarding corporate governance and listing events. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes and Corporate Actions
- Shareholder Vote Results: Shareholders approved five charter amendment proposals (Proposal 2(i) through 2(v)) intended to align CIC's charter with other listed business development companies. These amendments will become effective upon a future listing.
- Voting Statistics: As of the record date (May 10, 2021), 113,514,454 shares were eligible to vote. At the reconvened meeting, 69,722,061 shares were voted.
- Listing Preparation: CIC has commenced final steps to list on the NYSE under the ticker symbol "CION".
- Advisor Engagement: Wells Fargo Securities LLC has been engaged as the lead advisor for the listing.
Guidance, Outlook, and Risks
- Outlook: CIC anticipates that trading on the NYSE will commence within 30 days of the filing date (September 8, 2021).
- Risks: The filing explicitly states there can be no assurance that CIC will be able to complete the listing in any certain timeframe or at all.
- Management Commentary: The charter amendments were approved to conform provisions to those of other publicly traded business development companies, including changes regarding director removal, shareholder inspection rights, indemnification, share transferability, and regulatory guidelines.
Investor Verification Checklist
- Verify the actual commencement date of trading on the NYSE under the ticker "CION" within the anticipated 30-day window.
- Confirm the effective date of the charter amendments once the listing is finalized.
- Review the definitive proxy statement filed on May 13, 2021, for detailed descriptions of the approved charter amendments.
- Monitor for any subsequent filings regarding the completion of the listing or changes to the timeline.