Aug. 26, 2021
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. Hi, I am writing to vocalize my support for the approval of SPARC within a swift timeframe. The idea of a SPARC is a novel concept that solves many of the challenges that come with SPACs. - It benefits sponsors by allowing them to have more leverage in a deal for their shareholders. - It also benefits SPAC shareholders in another way by not tying down capital and dealing with opportunity cost of the broader market. Additionally, as I'm sure the SEC is aware of, there has been a large amount of near fraudulent companies making their way onto the NYSE via SPAC mergers that have dubious finance and accounting practices that have swindled several thousands of retailers on the merits of false promises. The best part about SPARC is that it removes serious time pressure on the sponsor to find a deal, and can help sponsors who want to prioritize finding good deals with legitimate companies, at the same time without having to worry about appeasing shareholders who are suffering the opportunity cost of investing in the SPAC and thus avoiding having money in the broader market. I am a PSTH shareholder and have been dismayed by the price action in recent months. If my money was not in PSTH, it would likely be some blend of relatively low-risk stocks and ETFs, most likely a portion in SPY, QQQ, and some high dividend ETFs such as PFFA and QYLD. These last few months, my PSTH position has underperformed compared to the relative market, and I have been forced to continuously justify my position to myself. That choice is my own, but thousands of retailers are faced with the same task, all seeking higher returns than traditional means. The approval of SPARC would solve that problem and allow retailers the chance to participate along with large institutions without having to worry about the risk of being left behind by the broader market. I'm thankful for your time and hope you take my words into consideration. Best, Kevin