SADDLE BROOK, N.J., July  07, 2026  (GLOBE NEWSWIRE) -- Bulldog Investors, LLP, a shareholder owning more than 3% of the outstanding shares of CION Investment Corporation (NYSE:CION) with 1,716,599 shares, announced

CION

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

Bulldog Pushes for Expanded Buybacks as CION Trades at Deep NAV Discount

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SADDLE BROOK, N.J., July  07, 2026  (GLOBE NEWSWIRE) -- Bulldog Investors, LLP, a shareholder owning more than 3% of the outstanding shares of CION Investment Corporation (NYSE:CION) with 1,716,599 shares, announced</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Bulldog Investors, owning over 3% of CION (1,716,599 shares), urges management to expand the buyback program. With CION at $6.39 versus a NAV of $13.11 (July 2, 2026), the ~50% discount suggests buybacks could meaningfully close the gap and be NAV-accretive, though sustained resistance could trigger governance action or a wind‑up.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Bulldog Investors, &gt;3% stake (1,716,599 shares), calls for buybacks. NAV discount cited at ~50%.</li><li>CION trades at $6.39; NAV is $13.11 (as of July 2, 2026).</li><li>Bulldog may nominate Directors; winding up possible if management resists.</li><li>Management urged to deploy cash to repurchase shares and reduce debt.</li><li>If management resists, governance changes could follow.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>CION Investment Corporation (CION)</strong>: Subject of Bulldog activism; potential buybacks and governance implications amid NAV discount.</li><li><strong>Bulldog Investors, LLP (N/A)</strong>: Activist investor with &gt;3% stake pressing for strategic changes and expanded repurchases.</li><li><strong>Phillip Goldstein (N/A)</strong>: Principal at Bulldog; primary contact for the activism campaign and investor communications.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. Fits because the article centers on an activist investor’s push and potential governance/actions affecting CION’s capital strategy and shareholder value.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Stock trades at $6.39 with NAV $13.11, implying ~50% discount.</li><li>Activist pressure could trigger accelerated buybacks, narrowing the NAV gap.</li><li>Possible governance changes or wind-up if management resists, impacting valuation.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Bulldog owns 1,716,599 CION shares (&gt;3%).</li><li>CION price: $6.39 as of July 2, 2026.</li><li>NAV last reported: $13.11 per share.</li><li>NAV discount: roughly 50% versus market price.</li><li>Bulldog seeks expanded buybacks and debt reduction; wind‑up possible.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term upside for CION if buybacks expand and leverage stays controlled, likely over 3–12 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">SADDLE BROOK, N.J., July  07, 2026  (GLOBE NEWSWIRE) -- Bulldog Investors, LLP, a shareholder owning more than 3% of the outstanding shares of CION Investment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/CION">CION</a>) with 1,716,599 shares, announced today that it is calling on management to materially expand its share repurchase program.</p>  <p align="justify">As of July 2, 2026, CION’s stock price stood at $6.39, more than 50% below its last reported net asset value (NAV) of $13.11. It follows that if CION’s portfolio were liquidated in an orderly fashion and the cash received was distributed to shareholders, they would stand to receive more than double what they would receive today by selling their shares in the market.</p>  <p align="justify">Bulldog acknowledges that CION has repurchased a significant number of its shares in the past. However, given its current extremely large trading discount, Bulldog believes that CION should not issue any additional loans until the discount narrows significantly. Instead, Bulldog is calling on CION to deploy all its investible cash to repurchase its shares (which will be highly accretive to NAV) and to reduce debt (so as to keep the leverage ratio from increasing).</p>  <p align="justify">If management declines to cease making loans and materially expand CION’s share repurchase program, Bulldog may nominate directors that support a transaction to maximize shareholder value including possibly winding up the company.</p>  <p align="justify"><strong>About Bulldog Investors, LLP: </strong>Bulldog is an SEC-registered investment adviser that manages closed-end funds and separately managed accounts. (<a href="https://www.globenewswire.com/Tracker?data=z9mb4yBurPiFyYYg4gEpgz7ouNn3nW7egYQrGEm5r0t4m1CFSE3GuwXc0JwuHXW_c3RGCZJiE2iJz_eN2mYCGnec5T0byHa7wDsgIcttR2h1tGgR2kFXyk8X5kYP61IS" rel="nofollow" target="_blank"><u>www.bulldoginvestors.com</u></a><u>)</u></p>  <p align="justify">Contact: Phillip Goldstein (914) 260-8248 / pgoldstein@bulldoginvestors.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc1ODM2NCM3Njk1MTA5IzUwMDExNTI1Nw=="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ODk1ZjAzY2QtYTU5Zi00NDZkLWFjNzEtOTY0ZDlhMjc4YjY0LTUwMDExNTI1Ny0yMDI2LTA3LTA3LWVu/tiny/Bulldog-Investors-LLP.png" referrerpolicy="no-referrer-when-downgrade"></img>

Bulldog Investors, owning over 3% of CION (1,716,599 shares), urges management to expand the buyback program. With CION at $6.39 versus a NAV of $13.11 (July 2, 2026), the ~50% discount suggests buybacks could meaningfully close the gap and be NAV-accretive, though sustained resistance could trigger governance action or a wind‑up.

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

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News