CION Investment Corporation
08/28/2024 | Press release | Distributed by Public on 08/28/2024 10:31
Proxy Results Form 8 K
Item 5.07. Submission of Matters to a Vote of Security Holders.
CĪON Investment Corporation ("CION") reconvened its Annual Meeting of Shareholders (the "Annual Meeting") on August 27, 2024. The Annual Meeting was initially called to order on July 29, 2024, and was adjourned until August 27, 2024 to permit additional time to solicit shareholder votes for the proposal described below.
As of May 31, 2024, the record date for the determination of shareholders entitled to notice of, and to vote at, the Annual Meeting, 53,565,154 shares of common stock were eligible to be voted, and 28,079,476of those shares were voted in person or by proxy at the reconvened Annual Meeting. Shareholders were asked to consider and act upon the following proposal, which is described in detail in CION's definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on May 31, 2024:
| · | 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. The votes for, votes against, abstentions and broker non-votes are set forth below, excluding shares held by affiliated persons:
| Votes For | 20,555,400 |
| Votes Against | 5,740,511 |
| Abstentions | 1,527,353 |
| Broker Non-Votes | 0 |