Aug. 26, 2021
To whom this may concern, I'm writing to comment and give support to SR-NYSE-2021-45. As a retail investor, a subscription warrant will allow us access to investing in companies that we otherwise wouldn't have access to - without needing to tie up excessive capital. This model also supports the ability for retail investors to better vet and examine fully a potential transaction before fronting over limited capital (compare to large funds and hedge funds that can cast a wide net of millions into various vehicles). While the SPAC vehicle has given retail investors access to many early-stage high growth companies, the speculative nature of the vehicle along with sponsor promote cut led to many unrealistic valuations. Approving SR-NYSE-2021-45 will alleviate many of these concern while still granting retail investor access to either high-growth early-stage companies or mature revenue-generating companies. This rule change will further protect investors and further facilitate better capital information.