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Bulldog Investors Calls on CION Investment Corporation to Expand Its Share Repurchase Program

  • Bulldog Investors, LLP, holding over 3% of CION Investment Corporation (NYSE: CION) with 1,716,599 shares, called on management to materially expand its share repurchase program.
  • As of July 2, 2026, CION's stock price was $6.39, trading more than 50% below its net asset value of $13.11.
  • Bulldog stated that liquidating CION's portfolio & distributing proceeds would yield shareholders more than double the current market value of their shares.
  • The firm urged CION to halt new loan issuances until the trading discount narrows significantly & to deploy all investible cash toward share repurchases & debt reduction.
  • Bulldog warned it may nominate directors to pursue a transaction maximizing shareholder value, including potentially winding up the company, if management refuses these actions.