Jul. 30 at 3:19 PM
$SONO Coliseum Capital now owns over 12% of Sonos. ChatGPT tells us they are just below the 13% threshold where they'll have a regulatory obligation to state their intentions:
13% Takeover Notice: Many states and regulatory regimes (e.g. Maryland, Delaware M&A law) require a takeover notice or specific disclosure when a shareholder crosses roughly 13% ownership, especially if the intent is to influence corporate control or engage in merger proposals.
SEC & State Filings: If the shareholder begins to discuss a takeover, going-private plan, board control, or similar strategic proposals, the Item 4 “Purpose” section of 13D must be updated—SEC scrutiny considers vague or generic statements unacceptable if material plans exist .
Why Coliseum Stays Below 13%
Keeps them under certain regulatory thresholds and avoids triggering aggressive takeover disclosure obligations at the state level. Once they cross 13%, they would likely need to file a 13D amendment disclosing any strategic intent
