CION Investment Corporation (NYSE:CION) funds managed by CION Investment Management, LLC bid to acquire Certain assets from David's Bridal, LLC in late June, 2023. CION Investment Corporation (NYSE:CION) funds managed by CION Investment Management, LLC agreed to acquire Certain assets from David's Bridal, LLC on July 14, 2023. Under the terms of the acquisition, CION will also assume $23 million in critical liabilities, pay various cures for contracts it is assuming and invest $20 million into the business.

As on July 14, 2023, United States Bankruptcy Court for the District of New Jersey approved the sale to CION. David's Bridal's existing management team, including Chief Executive Officer James Marcum, will continue to run the company after the sale. The transaction is expected to close on July 19, 2023.

Surbhi Gupta of Houlihan Lokey acted as financial advisor and Joshua A. Sussberg and Chris Greco of Kirkland & Ellis, Osler, Hoskin & Harcourt LLP and Cole Schotz, P.C. acted as legal advisor to David's Bridal, LLC. BRG is serving as financial and restructuring advisor, C Street Advisory Group is serving as strategy and communications advisor, and Omni Agent Solutions is serving as claims and noticing agent to David?s Bridal. Eric Klar, Scott Greissman, Adam Cieply, William Fong, Scott Fryman, Steven Lutt, Tal Marnin, Kenneth Barr, Arlene Arin Hahn of White & Case LLP acted as legal advisors for CION Investment.