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CĪON Investment commences cash tender offer

CION Investment Corp. has filed for a cash tender offer to buy up to 4,209,610.33 of its common shares.

The number of shares allotted for repurchasing represents 3.75% of the weighted average number of outstanding shares for the calendar year ended Dec. 31, 2017.

The company has started the offering to provide shareholders with a measure of liquidity because there is no public market for its shares. It plans to fund the share repurchase with cash on hand.

The offering is set to expire March 30 at 5 p.m. ET, unless extended.