March 11, 2022
Ive been professionally involved with the investment management industry for 20 years. Ive been familiar with SPACs for over 10 years.
They are one of the only methods for retail investors to participate in any meaningful way of companies at IPO prices. Traditional IPO process heavily favors institutions and UHNW/HNW individuals at investment banks.
One of the drawbacks has been the opportunity cost associated with waiting for a deal. Institutions in a traditional IPO process will make the decision to commit capital once they have learned about the opportunity. The SPARC warrants will allow retail this same opt-in opportunity.
Im a large retail holder of PSTH and hope to have this opportunity.
I appreciate your rigor in reviewing new vehicles to insure integrity in the marketplace, but I believe this will be a positive development for retail investors.