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CION Investment Corporation (NYSE:CION) ("CION") today announced a one-year extension to its existing $60 million share repurchase program through August 29, 2024, under which CION will continue to support the trading of its common shares and seek to drive long-term shareholder value.
The share repurchase program authorizes CION to repurchase up to $60 million of its common shares, of which approximately $37.0 million remains available. CION had repurchased a total of approximately 2,325,622 of its common shares for an aggregate purchase price of approximately $22.0 million from the commencement of the share repurchase program on August 17, 2022 through June 30, 2023.
Repurchases under CION's share repurchase program may be made either in the open market or through private transactions, including under CION's Rule 10b5-1 trading plan, subject to market conditions and applicable legal requirements. CION has no obligation to repurchase shares, and the share repurchase program may be suspended or discontinued by CION at any time.
Posted In: CION
