> You’re categorically changing the profile of the stock. Mechanically, it's not much different than an issue of new shares. From Twitter's announcement: >>

> You’re categorically changing the profile of the stock. Mechanically, it's not much different than an issue of new shares. From Twitter's announcement: >> each right will entitle its holder [...] to purchase, at the then-current exercise price, additional shares of common stock having a then-current market value of twice the exercise price of the right. There's no obvious breach of fiduciary duty through this plan. Existing (non-Musk) investors get new shares, but Twitter also raises capital at the current market price.