September 7, 2021
To whom it 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 appropriately examine a potential transaction before allocating limited capital. While SPACs have given retail investors access to many early-stage high growth companies, the typical structure of the vehicle (sponsor fees, founder shares etc.) leaves a lot to be desired, and unfortunately incentivizes sponsors to close any deal within the limited time.
Approving SR-NYSE-2021-45 will alleviate many of these concerns while still providing retail investors the opportunity to participate in taking a private company public. I firmly believe this rule change will better protect investors and facilitate efficient capital allocation.
Thank you.
Sincerely,
Nick Esposito