<SEC-DOCUMENT>0000947986-13-000337.txt : 20131216
<SEC-HEADER>0000947986-13-000337.hdr.sgml : 20131216
<ACCEPTANCE-DATETIME>20131216165828
ACCESSION NUMBER:		0000947986-13-000337
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20131216
DATE AS OF CHANGE:		20131216
EFFECTIVENESS DATE:		20131216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CION Investment Corp
		CENTRAL INDEX KEY:			0001534254
		IRS NUMBER:				453058280
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-178646
		FILM NUMBER:		131279539

	BUSINESS ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		212 - 418 - 4700

	MAIL ADDRESS:	
		STREET 1:		3 PARK AVENUE
		STREET 2:		36TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	C&#298;ON Investment Corp
		DATE OF NAME CHANGE:	20111104
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>body.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT NO. 9
<TEXT>
<html>
<head>
    <title>body.htm</title>
    <!--Licensed to: ICON Capital Corp.-->
    <!--Document Created using EDGARizer 2020 5.4.5.1-->
    <!--Copyright 1995 - 2013 Thomson Reuters. All rights reserved.-->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">
<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">
<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
<hr style="COLOR: black" align="center" noshade size="2" width="100%">
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
<hr style="COLOR: black" align="center" noshade size="2" width="100%">
</div>
</div>

<div style="TEXT-ALIGN: right"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Filed pursuant to Rule 497</font> </font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">File No. 333-178646</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><img src="cionimage.jpg" alt=""></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right">&#160;</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">C<font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#298;</font>ON INVESTMENT CORPORATION</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Supplement No.&#160;9&#160;dated&#160;December 16, 2013</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">To</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Prospectus dated June 12, 2013</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">This supplement contains information that amends, supplements or modifies certain information contained in the accompanying prospectus of C<font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#298;</font>ON Investment Corporation dated June 12, 2013, as previously supplemented and&#160;amended&#160;(as so supplemented and&#160;amended, the &#8220;Prospectus&#8221;). This supplement is part of, and should be read in conjunction with, the Prospectus. The Prospectus has been filed with the U.S. Securities and Exchange Commission, and is available free of charge at www.sec.gov or by calling (877) 822-4276. Capitalized terms used in this supplement have the same meanings as in the Prospectus, unless otherwise stated herein.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Before investing in shares of our common stock, you should read carefully the Prospectus and this supplement and consider carefully our investment objective, risks, charges and expenses. You should also carefully consider the &#8220;Risk Factors&#8221; beginning on page 30 of the Prospectus before you decide to invest in our common stock.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><br>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">STATUS OF OUR CONTINUOUS PUBLIC OFFERING</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Since commencing our continuous public offering&#160;on July 2, 2012 and through December 16, 2013,&#160;we received and accepted subscriptions in our offering for&#160;approximately 15,510,000 shares of our common stock at an average price per share of $10.13, for corresponding gross proceeds of approximately $157,130,000, including shares purchased by our affiliates and proceeds from our amended and restated distribution reinvestment plan.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">DISTRIBUTIONS</font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160; </font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">On December 13, 2013, our board of directors&#160;(the </font>&#8220;Board&#8221;)&#160;declared two regular semi-monthly cash distributions o<font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">f&#160;$0.030100 per share each (an annualized rate of 7.00% based on our current $10.32 per share public offering price), which will be paid in&#160;January 2014</font>. </font></font></font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Both of the regular semi-monthly cash distributions of $0.030100 per share will be paid on&#160;January&#160;2, 2014, the first to shareholders of record on&#160;December 15, 2013 and the second to shareholders of record on&#160;December 31, 2013.</font></font> </font></font></font></font></div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.4pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-WEIGHT: normal; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The determination of the tax attributes of our distributions is made annually as of the end of our fiscal year based upon our taxable income and distributions paid, in each case, for the full year. Therefore, a determination as to the tax attributes of the distributions made on a quarterly basis may not be representative of the actual tax attributes for a full year. We intend to update shareholders quarterly with an estimated percentage of our distributions that resulted from taxable ordinary income. The actual tax characteristics of distributions to shareholders will be reported to sha<font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">reholders annually on a Form 1099-DIV. </font></font></font></font></font></font></font></font><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="FONT-WEIGHT: normal; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The payment of future distributions on our common stock is subject to the discretion of the Board and applicable legal restrictions, and therefore, there can be no assurance as to the <font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">amount</font> or <font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">timing</font> of any such<font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"> future distributions.</font></font></font></font></font></font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.55pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">We may fund our cash distributions to shareholders from any sources of funds available to us, including offering proceeds, borrowings, net investment income from operations, capital gains proceeds from the sale of assets, non-capital gains proceeds from the sale of assets, dividends or other distributions paid to us on account of preferred and common equity investments in portfolio companies and expense reimbursements from ICON Investment Group, LLC (&#8220;IIG&#8221;), which are subject to recoupment. To date, distributions have not been paid from offering proceeds or borrowings, although a portion of our distributions to shareholders may be deemed to constitute a return of capital for tax purposes. We have not established limits on the amount of funds we may use from available sources to make distributions. For a significant time after the commencement of our offering, a substantial portion of our distributions may result from expense reimbursements from IIG, which are subject to repayment by us within three years.&#160;The purpose of this arrangement is to avoid such distributions being characterized as returns of capital. Shareholders should understand that any such distributions are not based on our investment performance, and can only be sustained if we achieve positive investment performance in future periods and/or IIG continues to make such expense reimbursements. Shareholders should also understand that our future repayments will reduce the distributions that they would otherwise receive.&#160; There can be no assurance that we will achieve such performance in order to sustain these distributions, or be able to pay distributions at all.&#160; IIG has no obligation to provide expense reimbursements to us in future periods.</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">1</font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>

<div>&#160;</div>

<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">This supplement amends the indicated sections of the Prospectus as follows:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">PROSPECTUS SUMMARY</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The&#160;twentieth bullet point in the section entitled &#8220;Prospectus Summary &#8212; Risk Factors&#8221; on page 8 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td width="4%">
<ul>
<li>&#160;</li>
</ul>
</td>
<td width="96%"><font style="FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font size="3" style="FONT-SIZE: 11pt; FONT-FAMILY: times new roman">The amended total return swap, or the TRS, entered into by our wholly-owned financing subsidiary exposes us to certain risks, including market risk, liquidity risk and other risks similar to those associated with the use of leverage.</font></font></td>
</tr></table>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The disclosure in the section entitled &#8220;Prospectus Summary &#8212; Distributions&#8221; on page 11 of the Prospectus is hereby amended by adding as the third paragraph thereof the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">On or about February 1, 2014, we intend to change from semi-monthly closings to weekly closings for the sale of our shares in this offering. After and as a result of such change, our board of directors will authorize and declare on a monthly basis a weekly distribution amount per share of our common stock.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The third sentence of the second paragraph in the section entitled &#8220;Prospectus Summary &#8212; Share Repurchase Program&#8221; on page 12 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">When we repurchase common stock, we will conduct repurchases on the same date that we hold the first weekly closing in a calendar month for the sale of common stock in this offering.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The first paragraph in the section entitled &#8220;Prospectus Summary &#8212; Recent Developments&#160;&#8212;&#160;Total Return Swap&#8221; on page 16 of the Prospectus is hereby amended by adding as the second sentence thereof the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Effective December 9, 2013, Flatiron and Citibank amended the TRS to, among other things, extend the termination or call date to December 17, 2014 and increase the maximum aggregate market value of the portfolio of loans subject to the TRS (determined at the time each such loan becomes subject to the TRS) from $150 million to $225 million.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The first sentence of the&#160;fourth paragraph in the section entitled &#8220;Prospectus Summary &#8212; Recent Developments&#160;&#8212;&#160;Total Return Swap&#8221; on page 17 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Citibank may terminate the TRS on or after December 17, 2014, or the call date.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The fifth sentence of the&#160;fourth paragraph in the section entitled &#8220;Prospectus Summary &#8212; Recent Developments&#160;&#8212;&#160;Total Return Swap&#8221; on page 17 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Such monthly payments will equal the product of 80% of the maximum portfolio amount, multiplied by 1.35% per annum.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">RISK FACTORS</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The first sentence of the first risk factor under the heading &#8220;Risks Related to an Investment in Our Common Stock &#8212; </font>Investors will not know the purchase price per share at the time they submit their subscription agreements and could pay a premium for their common stock if our board of directors does not decrease the offering price in the event of a decline in our NAV per share.&#8221; on page 49 of the Prospectus<font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman"> is hereby replaced in its entirety with the following:</font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The purchase price at which you purchase common stock will be determined at each weekly closing date to ensure that the sales price, after deducting selling commissions and dealer manager fees, is equal to or greater than the net asset value of our common stock.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">DISTRIBUTIONS</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The disclosure in the section entitled &#8220;Distributions&#8221; on page 56 of the Prospectus is hereby amended by adding as the third paragraph thereof the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">On or about February 1, 2014, we intend to&#160;change from semi-monthly closings to weekly closings for the sale of our shares in this offering. After and as a result of such change, our board of directors will authorize and declare on a monthly basis a weekly distribution amount per share of our common stock.</font></div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">2</font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">DETERMINATION OF NET ASSET VALUE</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The second paragraph in the section entitled &#8220;Determination of Net Asset Value &#8212; Determinations in Connection With Offerings&#8221; on page 103 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">In connection with each weekly closing on the sale of common stock offered pursuant to this prospectus, our board of directors&#160;has delegated to management the authority to conduct such closings so long as there is no change to our public offering price. In the event of a change to our public offering price in connection with any weekly closing, our board of directors will approve the change prior to management conducting such closing. </font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The&#160;following factors, among others, will be considered in making the determination that our common stock is not sold at a price per share, after deducting selling commissions and dealer manager fees, that is below our net asset value per share:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">DISTRIBUTION REINVESTMENT PLAN</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The first paragraph in the section entitled &#8220;Distribution Reinvestment Plan&#8221; on page 132 of the Prospectus is hereby amended by adding as the second sentence thereof the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">On or about February 1, 2014, we intend to&#160;change from semi-monthly closings to weekly closings for the sale of our shares in this offering. After and as a result of such change, our board of directors will authorize and declare on a monthly basis a weekly distribution amount per share of our common stock.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">PLAN OF DISTRIBUTION</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The third paragraph in the section entitled &#8220;Plan of Distribution &#8212; General&#8221; on page 152 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">The dates on which we will accept subscriptions will be Wednesday of each week unless otherwise determined by us. Common stock issued pursuant to our second amended and restated distribution reinvestment plan typically will be issued on the same date that we hold our last weekly closing in a calendar month. In addition, in months in which we repurchase common stock, we expect to conduct repurchases on the same date that we hold our first weekly closing in a calendar month during the sale of common stock in this offering.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The section entitled &#8220;Plan of Distribution &#8212; Semi-Monthly Pricing Procedures&#8221; on page 153 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Weekly Pricing Procedures</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">In connection with each weekly closing on the sale of common stock offered pursuant to this prospectus, our board of directors&#160;has delegated to management the authority to conduct such closings so long as there is no change to our public offering price. In the event of a change to our public offering price in connection with any weekly closing, our board of directors will approve the change prior to management conducting such closing.&#160;&#160;For additional information regarding the weekly pricing procedures, please refer to &#8216;&#8216;Determination of Net Asset Value.&#8217;&#8217;</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">SHARE REPURCHASE PROGRAM</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The third sentence of the second paragraph in the section entitled &#8220;Share Repurchase Program&#8221; on page 160 of the Prospectus is hereby replaced in its entirety with the following:</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">In months in which we repurchase common stock, we will conduct repurchases on the same date that we hold the first weekly closing in a calendar month for the sale of common stock in this offering.</font><br>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">3</font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">&#160; </font></div>
</div>
</div>

<br>
</div>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>cionimage.jpg
<DESCRIPTION>IMAGE
<TEXT>
begin 644 cionimage.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`!
M````/@```!L!!0`!````1@```"@!`P`!`````@```#$!`@`0````3@``````
M``!@`````0```&`````!````4&%I;G0N3D54('8U+C`P`/_;`$,``@$!`0$!
M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H*
M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`'\`
M7@,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_
MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C
M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-C<X.3I#1$5&1TA)2E-45597
M6%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ
MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X
M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($
M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B
M<M$*%B0TX27Q%Q@9&B8G*"DJ-38W.#DZ0T1%1D=(24I35%565UA96F-D969G
M:&EJ<W1U=G=X>7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X
MN;K"P\3%QL?(R<K2T]35UM?8V=KBX^3EYN?HZ>KR\_3U]O?X^?K_V@`,`P$`
M`A$#$0`_`/WTU/4K+1[&;5-3O([>VMXFDGGF<*D:*,EF)Z``5S'_``OSX*'I
M\6O#G_@Y@_\`BJ3X^@?\*3\7''_,N7O_`*(>OSI=W+G+L>>YKT\!@(XR+;=K
M'C9EF53`U$HJ]S]&!\>_@F1S\6?#G_@Z@_\`BJ7_`(7W\$_^BM>'/_!U!_\`
M%5^<OF2?WS^=&]_[Y_.NY9+3_F?W'F?ZP5OY5]Y^C7_"^_@G_P!%:\.?^#J#
M_P"*H_X7W\$_^BM>'/\`P=0?_%5^<N]_[Q_.C>_]X_G3_L6G_,_N#_6"M_*O
MO/T:_P"%]_!/_HK7AS_P=0?_`!5'_"^_@G_T5KPY_P"#J#_XJOSEWO\`WC^=
M&]_[Q_.C^Q:?\S^X/]8*W\J^\_1K_A??P3_Z*UX<_P#!U!_\51_POOX)_P#1
M6O#G_@Z@_P#BJ_.7S)/[Y_.C>_\`?/YT?V+3_F?W!_K!6_E7WGZ1Z/\`&#X6
M>(M3BT70/B-HE[=SMB&VM=4BDD<X)X56)/0UT:DD<U\!_LB%C^T%H`)R#-)G
M/_7)J^_`.:\G'8582JH)W/;RW&RQM%S:MJ<E\?@#\$?%I]/#E[_Z(>OSF?[Y
M^M?HS\??^2(>+O\`L7+W_P!$O7YS/]\_6O6R7^%+U/$S_P#C1]!****]IGSX
M44=B?R_S_6EACFNGV6EO)*<X/DQ,^/RI-J.Y2BY;:B44-E':)U974X9'&"/J
M#B@4TT]A/FCHT%%%%`CTO]D(?\9!^'O^NTG_`*+:OOW`%?`7[(7_`"<'X?\`
M^NTG_HIJ^_:^:SG_`'A>A];D'^[2]?T.1^/O_)$/%W_8N7O_`*)>OSF?[Y^M
M?HS\??\`DB'B[_L7+W_T2]?G,V/,(/=JZ\E_AR]4<>?_`,:'HQ*V_A_\.?&?
MQ1\0Q^&/`^BR7ETW,A'$<*_WG;HH^O7MFK?PE^$WBKXS>,(O!_A2#DX>\O'7
M]W:19Y=CZ^@[GCWKZW\5ZG\-OV)?@R+7PUIZ3ZC<G9:))CS=0NL<R2'KM7J>
MRC`'6NO%XWV35.&LF>?@\"ZT75J.T%^)YH_P`_9W_9PTNVUS]H'Q&==U:9=T
M&C6BG8^/[L8(9U!_B<A?:O5_V<_CO\%OB?/<>&/`/A8:+<V47F+82V,<1DBS
MC>FS((!/([9%?$WBKQ7XA\<>(KKQ7XIU62\O[R0O/.[=?10.R@8`'8"I_`/C
MC7_AMXPLO''AB<)>6,NY`Q^60$$,C>Q4D?C6-3+ZE6DW.3<OP.BCF5*A62A"
MT/QMW/NSXX_L[>`_C'X<GM;W2X+754B)L-5@B"R0OVR1]Y<]0>W3FO@+4M/N
M](U*YTG4(]EQ:W#PSIGHZL5(_,5]4S?\%&O"[>'&>'X>ZA_:IB^6!ID\@OTS
MO'.W..V:^6-7U.[UO5[O6]0<-/>W,D\S`8!9V+'`],FIRRGBJ7-&J/-JN#K2
MC*EU[%>BBBO7/%1Z7^R%_P`G!^'_`/KM)_Z*>OOVO@+]D'_DX7P\/^FTG_HI
MJ^_:^:SG_>%Z'UN0?[M+U_0Y'X^Y_P"%(^+N?^9<O?\`T2]?GOX3\):_X[\4
MV?A#PO9?:+^_N!'!'G`'JS>BJ,DGTK]!_CZ3_P`*2\798`?\(Y>\GH/W#UY)
M^P9\%8_#OA>7XNZ[:8OM879IPD7F"T!^\/0N1D^P7U-+!8I8;"3EUNK!F.%>
M+QM.'36YZ;\&_A'X0_9\^'1TRVDC#1PFXUC5)%"M.X7+2,>R@`X'8"OBK]H+
MXQ7_`,;?B1=^*&E8:?!FWT>W8\1VX/WB/5_O'Z@=ACZ._;Z^+4GA;P+;_#/1
M[HK>^("3=[6PR6BD;O\`OML+]`U?'>`.%'`Z<=/I7;EE"4[XB>[.#-Z\:;6&
MI[+<"<\C\****]JYX(4444@ZA1110!Z7^R%_R<)X?/\`TVD_]%/7W[7P%^R%
M_P`G!^'_`/KM)_Z*>OOVOFLY_P!X7H?6Y!_NTO7]#%^(7AA?&O@?5_!YE\O^
MU-.FM2_H)$*?UJ_I6EV>A:5;Z1I\`CM[6%(H(UZ*JK@#\A5EAN.,=.M9/CW4
MI-%\%:QK$+$/:Z;/,A!YRL;-_2O)5Y6B>U4Y8)SZV/@G]I3X@R?$OXUZWKR3
M[[6WN396&#P(8OER/8D,WU-<+G/--21YU\^1LM)\['U)Y_K3L\\GWZX_G7V]
M*,:5)170_/:TY5:TI/JPKJ/@_P#"3Q3\:/&,7A+PU'L4#??7SKF.TB_OMTY/
M0#//X$B7X/\`P5\<_&S75TCPE8%;5'`O=4F0B"V7N2W1F]$7D^PR:]M^)?Q/
M\!?LK>!I/@G\$+I+GQ'.N-8U@`.\#D8+N1UD_NH.$[\XSSU\1)25*CK)_AZG
M3A\*N5U:ND5^/H>'_&3P#X?^&/CB;P1H/BXZT]F@6^NOLXC6.?O&N"=VT=3G
MJ2.HKE:-S,3)(Y=G8L[N<ER>223UR>>:.@Q7334XP2D[LY*CA*;<59!1115D
M'I?[(7_)P?A__KM)_P"BGK[]KX"_9#_Y."\/_P#7:3_T4]??M?-9S_O"]#ZW
M(/\`=I>OZ"<C)JGKFF6^N:3=Z)>`F"[MWAE"G!VLI4X/T-7,<G/>D*C.=N?Q
MKR%IJCW))--/9GR8/^";OB+[>\47Q2M%L@Y\ECIC&4)GC/SXSBN[\"?L!?"/
MPW*M[XLOK[7Y%(.RYD$4/_?"8S^+'Z5[P0`<G@X]*S/$GC'PIX/MX[SQ7XAL
M].BE?9%)>7`C#MUP"V*ZY9ABI1LY'!#*L%3E=1OZGCGQDM?VAGTI_AU\`?A@
MNAZ.BF.348KJUCED7N(D$G[L'GYSR?:O!&_8P_:+=F=O`Q8L269M1MR6)Y).
M9<^OYU]L>&?B%X%\97$MGX4\6Z?J,D*!IH[*Z61E&>I`/%;2DD<C%:4<QJT%
M[B6O74BOE-'$/WI.RZ'P8?V+OVB0<?\`""'_`,&%M_\`':/^&+_VB?\`H1#_
M`.!]M_\`':^]*0<]OUK?^V,1V7XG/_8.$?5GP6?V,OVAP<'P&WX7UO\`_'*/
M^&,_VAO^A#?_`,#K?_XY7WKC_.:,?YS1_;.([+\0_L#"=V?('[.O[,?QJ\"?
M&+1O%'B7P@UO96TKF><W<#;,QL!PLA)Z]A7U\A)4$FC:#U%*``,"N'$XFIBI
MJ4CT<'@Z6#@XP&N<<=N]<+XI^*6MW?CE_A5\+=)MK[6;:V2XUB[OI2MII<3Y
M">9M^9Y&P2(UQD#)(%=V3\W2O%OV4KY[SQQ\3UU5E_M0>,7-P#]_R0&6+/?`
MVL!6'0ZWN=;>Z#^T-':?:M)^)/AR:YVY%I=>'9%B;VWK.6`]\&G:)KOC3Q5\
M(I?$'BO0=,L=?M1=B:U>$W%O')!)(G&2"0P0'.?XJ[D<C<?SK.\6QQCPEJB)
M&`/[.GXQC^!J0WL<A^S9XKU3XA_#"R^(>MZ7I=I/JC2;(=-L_+5(TD9`I))+
M$[<^U`^)?BSXA>*-2\,?"2"R6RT>?[-JGB344:2'[2`"T$$:D>:Z@C<Q957(
M')Z8/[+,]];?LDZ9<:8";F/3;UK<=_,$LQ'ZXI/V'+NUO/V=],N(9WEE:^NS
M=RR\R-(9W.6[Y(*GZ$4^Y/8V/&>L_'OX;:;-XK@ETGQ;I]HGFW^G0V#65VL8
MY9HF#R*^%R=I`)QP2>#UGPZ^(GAGXI>#[+QOX1OO/LKU"4)(W(PX9&`Z$'@_
MF,@UME5VX*@]>,5X9^P_;W5C8>/=+AS_`&9:>.KR'3,?<"+@';^`2D4;_P"S
MW^TOI?Q<NK[P?K\<=AXAT^>7%MM*)>6ZR,HEBW?>`QAL=QD<'CN?B-JGB#0_
M!&J:_P"&+BV6[T^QEN8UNX"\<GEQLVPA6!&<=?TKQ7PE\&6^*OP(T3Q-X7U%
MM,\6:#?W[:%JT9PRD7<Q\ESW0]/;)Z@LK=)X-^-S?$_X:^*/!7C33AI?B[2-
M'NH=9TM_EW_NF'G1\\HV0>"<9'4$$EK@=_\`"3Q)KWC'X;Z+XO\`$9MQ=:MI
ML-Y)':Q%4B\Q`^P;B2<9QGVKI!R!FN1^`B_\60\(;AS_`,(W9<X_Z8I77465
MP`@'FO)?B#\&_'/AWXFO\</@9/:#5+J%8M=T*_D,<&IH,#(<?<?`&">XSGE@
MWK5!`/6@#S>'XT?$5+7RKO\`9P\3K>J,&*&YM'A9NG$OFCY<]RH..<=JU;!_
MB`WPCNKCQ5HGF:_>VMRSZ7:7"NL32%_+A#G`(52JENY!-=EM'I0%4=!0!YM^
MRUX;\5^!OA#8>!/&OAV6QO=-:57WS1NDBM*[@@J3V/(K#TOX=_$G]G_QIJ>K
M_##0!XA\*:W=-=WF@I=K%=:?.<9>`R85U/3:2.`.FWGV;`'2D*@C&*`//M5\
M<_%?Q?IKZ/X%^&U[HUS<)Y;:OXA>)(K+/!D$:.S2L!R%X!/4C'.Q\.?A_HWP
M:^'=OX2\-Q7%XEG&SRRNP,UY.QR\C$X&YF_`#CM74[5)R12X!.:`/./V:=!\
M7>$_AT/"OC/PU-I]U#?7,PWRHZNLLSR@`J3R`P'U%5?VA?@#+\3+4>+_``'J
M1TCQ?86[QV6HQ8`NHF4AK>4XY5@2`Q!V[NXR*]1``Z"DP*`,#X3Z)J/AKX8^
E'_#VL6H@N['1[>"YA5@0DBQJ&7(X."#704BJ%`51@#H*6@#_V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
