CION Investment raises funds for loan investments via stock offering

By Toni Weeks

San Luis Obispo, Calif., June 12 - CION Investment Corp. announced it will conduct an offering of its common shares, according to a 497 filing with the Securities and Exchange Commission.

The newly organized, externally managed, non-diversified closed-end management investment company seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in senior secured loans, including unitranche loans, and secondarily in second-lien loans and long-term subordinated loans of private and thinly traded U.S. middle-market companies.

Mark Gatto, Michael A. Reisner and Harry Giovani are the primary portfolio managers.

The company is offering up to 100 million common shares at $10.24 apiece. CION said its shares are not listed on any securities exchange, and the company does not intend to list shares for the foreseeable future, the filing said.

The sales load will be about 10%, including up to 7% for sales commissions and 3% for dealer manager fees.

CION Investment Management, LLC, part of New York-based ICON, is the investment adviser.

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