Elon Musk updates the paperwork on his shocking Twitter purchase to avoid extra SEC drama
by Richard Lawler from The Verge - All Posts on (#5XWN9)
Photo by Christian Marquardt - Pool/Getty Images Within the news of Elon Musk taking a significant ownership stake in Twitter - and the revelation that it really is working on an edit button for tweets - many people noticed a wrinkle that seemed small at first but could cause problems later.
On Monday, Musk filed beneficial ownership report paperwork with the Securities and Exchange Commission (SEC) to note his ownership of 73,486,938 shares of Twitter (about 9.2 percent of its outstanding common stock and enough to make him the company's largest individual shareholder), and the box checked on the form (pdf) indicated it was a Schedule 13G, which allows for a simple disclosure for investors who intend to remain passive" in the company's affairs.
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