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So, if the shares have not yet changed hands, there is no immediate obligation to file. It’s right there on the CFR.

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If the shares have not changed hands then it would be false for Refinitiv to claim that.

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If I lost people to put it simply, under Rule 13d-1(b), someone acquiring 20% of CytoDyn (CYDY) could file 13G instead of 13D, as long as the acquisition isn’t meant to influence control of the company and isn’t part of a transaction aiming for control.

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For 13G and institutional investors or exempt investors not seeking influence on the company 10% or more requires filing within 15 days after the month end they surpassed 10%. For 13G and passive, non-institutional, non-exempt investors filing is required within 5 days of surpassing 5%.