WATCH: Are Elon Musk’s Twitter intentions pure? SEC agency to investigate

The US Securities and Exchange Commission (SEC) will be investigating certain aspects of Elon Musk’s Twitter acquisition.

The commission will be looking into the timing of Musk’s disclosure of his 9.2% stake in Twitter in April 2022 to determine whether his paperwork gives an accurate picture of his intentions.

As reported by Lisa Bernhard, the regulator sent a letter to Musk in April 2022, the contents of which were made public on Friday, 27 May.

WATCH: SEC looking into Twitter purchase

Paperwork queries

The SEC wanted to know why Musk didn’t file his paperwork within the 10-day window. It also wants clarity on why Musk filed a 13G disclosure form.

Bernhard explains the 13G form “is meant for investors who plan to hold their shares passively”.

Based on what has widely been reported, Musk should have filed a 13D form which is for investors who intend to “influence management and policies of the company”.

Musk’s Twitter purchase

Earlier this year, Musk offered to buy Twitter for $44 billion (a company with a $37 billion market cap).

Less than three days later, Twitter shares began climbing at the open of Wall Street trading again. Just 10 minutes into trading, the company stock increased by 3.7%.

The billionaire assured Twitter users the platform would “always be free for casual users”, but added a “slight cost” might be implemented for commercial and government users.

ALSO READ: Who’s funding the Twitter takeover?

(Of Twitter)

— Elon Musk (@elonmusk) May 26, 2022

Supposed threats

Musk ignited a firestorm on social media earlier in May when he suggested he might die “under mysterious circumstances.”

The Space CEO tweeted: “If I die under mysterious circumstances, it’s been nice knowing ya.”

While netizens were trying to figure out what Musk meant, he was likely just referencing a potential threat from the chief of Russia’s space agency.

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