Aug. 24, 2021
To whom it may concern, I am writing today to express my full support of the new class of SPAC rights as presented by Pershing Square Tontine Holdings. As a small-time retail investor, I believe that new rights class reforms the SPAC concept into a more competitive type of investment vehicle available to both private companies and investors like myself. This new rights class assigns value to the opportunity to participate in a deal without the opportunity cost or even the speculative risks inherent in the current form of SPACs. SPACs are indeed in need of reform. However, the current lawsuit against PSTH is completely merit less and hurts this proposed investment vehicle and the shareholders of PSTH. I believe the lawsuit has a point in trying to reform SPACs as a whole, but is misguided. I urge the SEC to seriously consider the SPARC vehicle and it’s place in the market we are currently facing today. I feel, as a small investor, the more opportunities for risk-adjusted returns are vital to building wealth for my family and this is an opportunity that I must speak in favor of. Thank you, Chas Hammond