Form 4: Thrivent Financial Discloses Preferred Share Redemption

Thrivent Financial for Lutherans reports the redemption of Series F Mandatory Redeemable Preferred Shares in CION Ares Diversified Credit Fund.

Summary

• Thrivent Financial for Lutherans, a 10% owner and director of CION Ares Diversified Credit Fund (CADEX), has reported a transaction on June 1, 2026.
• The transaction involved the redemption of 600,000 Series F Mandatory Redeemable Preferred Shares at a price of $25.00 per share.
• This redemption was executed at the principal amount, totaling $15,000,000.
• Following this transaction, Thrivent Financial's beneficial ownership of Series F shares is now zero.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a standard redemption transaction without indicating positive or negative performance trends for the issuer or the reporting person's overall position.

Positives

• The redemption of preferred shares at par value indicates a stable or favorable exit for Thrivent Financial from this specific series.
• The transaction was executed on the specified date, suggesting orderly corporate actions.

Negatives

• The redemption signifies the cessation of Thrivent Financial's investment in Series F Mandatory Redeemable Preferred Shares of CADEX.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing, which solely reports a past transaction.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for significant beneficial owners and insiders, detailing changes in their holdings. This specific filing indicates a capital event for a class of preferred shares within a diversified credit fund.

Stakeholder Impact

• Shareholders of CION Ares Diversified Credit Fund: The redemption of preferred shares may impact the fund's capital structure and liquidity, though the specific impact depends on the overall fund size and other holdings.
• Thrivent Financial for Lutherans: This transaction represents the closure of a specific investment in CADEX's preferred shares, potentially freeing up capital for other investments or reflecting a strategic decision.

Next Steps

• Thrivent Financial will no longer hold Series F Mandatory Redeemable Preferred Shares in CION Ares Diversified Credit Fund.

Key Dates

Keywords

SEC Form 4, Thrivent Financial, CION Ares Diversified Credit Fund, CADEX, Mandatory Redeemable Preferred Shares, Share Redemption, Beneficial Ownership, 10% Owner