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 today that it is calling on management to materially expand its share repurchase program.

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.