March 18, 2022
I am concerned about manipulation given low price of these proposed warrants.
There are numerous other issues with proposed rule.
One such rule is \"the average trading price of the Subscription Warrants is less than $0.25 over 30 consecutive trading days.\".
Average warrant price for 500+ spacs outstanding is $0.18 cents. Therefore this rule doesn't make sense at all as there is no way such warrant would hold up above $0.25 for more than a couple of months. Other than this, there are numerous other problems. It seems very tailored to $PSTH that no other spacs can use. There fore please deny this rule.
Instead of approving penny securities which creates an opportunity for frauds to orchestrate pump and dump schemes, SEC should deny this rule with prejudice.