March 14, 2022
Hi, To who it may concern. I am writing in favor of proposed rule change Described in ( SR-NYSE-2021-45 ). I am a some what savvy investor in the SPAC investment vehicle, okay so its not nor do I believe it can be made perfect, but this is a step in the right direction. I can see how the current SPAC structure will tie up a investor capitol. And some incentives are not pro sponsor. Ok with that said.
I also believe the new proposed SPARC structure does help with the current SPAC structure. And by not allowing the new rule change to worsen the way investors currently invest.
And from what I've read the SEC has for a while now wanted to Improve the blank check experience for investors,the rule change is a great way to field test verify and move one step in the right direction. I can also appreciate the SECs concern with Rumors and uncompleted deals not going through causing manipulation in the SPAC market. but we must also be mindful that commons, warrants,options etc. in its current state can be manipulated.
And from my understanding the new rule change will make the rule change/SPARC will be less manipulated, in part due to the fact that its not option-able.