CION Investment Corporation Announces Extension Of Existing $60M Share Repurchase Program Through August 29, 2024
Portfolio Pulse from Happy Mohamed
CION Investment Corporation (NYSE:CION) has announced a one-year extension to its existing $60 million share repurchase program through August 29, 2024. The program authorizes CION to repurchase up to $60 million of its common shares, of which approximately $37.0 million remains available. Repurchases may be made either in the open market or through private transactions, subject to market conditions and legal requirements.
September 07, 2023 | 12:04 pm
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CION's extension of its share repurchase program could potentially increase the stock's price in the short term as it indicates the company's confidence in its own stock.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back its own shares, CION is reducing the number of shares available in the market, which could potentially increase the stock's price due to the reduced supply. However, the actual impact will depend on market conditions and investor sentiment.
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