Wednesday, November 24, 2021 9:06:42 AM
A 13D filing is an SEC filing that must be submitted within 10 days by anyone acquiring more than 5% of a publicly listed company. What is the significance of a 13D filing? The purpose of the filing is to allow the public to see who a company's major shareholders are and importantly what their intentions are.
all those shareholders pulling their shares out of system on same day would certainly fall into the category of acting in concert. 18 percent of total and 50 percent of free trading. definition below.
Group Acting in Concert means persons (i) seeking to combine or pool their voting or other interests in the securities of the Corporation for a common purpose, pursuant to any contract, understanding, relationship, agreement or other arrangement, whether written, oral or otherwise, or (ii) any “ group of persons ” as defined under Section 13 (d) of the Securities Exchange Act of 1934.
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