13038 Federal Register / Vol. 87, No. 45 / Tuesday, March 8, 2022 / Notices 

11 17 CFR 200.30–3(a)(12). 

and facilitating transactions in 

securities, to remove impediments to 

and perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest, and is 

not designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. 

The proposed rule change is designed 

to perfect the mechanism of a free and 

open market and, in general, to protect 

investors and the public interest in that 

it will facilitate the listing and trading 

of an additional type of security that 

will, in turn, enhance competition 

among market participants, to the 

benefit of investors and the marketplace. 

Furthermore, the Exchange believes 

that the proposed listing standard is 

consistent with Section 6(b)(5) of the 

Act in that it contains requirements in 

relation to the listing of Subscription 

Warrants that provide adequate 

protections for investors and the public 

interest. In particular, the Exchange 

believes that the proposed rule provides 

important investor protections 

including, but not limited to, providing 

that: (1) The issuer cannot accept 

Subscription Warrants for exercise until 

it has entered into a definitive 

Acquisition Agreement and filed and 

obtained effectiveness of a registration 

statement with respect to such exercise; 

(2) cash tendered by Subscription 

Warrant holders in payment of the 

exercise price will be held in an 

interest-bearing account controlled by 

an independent custodian pending 

closing of the Acquisition; and (3) if the 

Acquisition is terminated or does not 

close within 12 months of the date of 

the Acquisition Agreement, the 

tendering holders will receive a 

distribution of their pro rata share of the 

funds in the custody account. 

The Exchange also believes that the 

proposed quantitative standards for 

Subscription Warrants are adequate to 

protect the interests of investors and the 

public interest. The Exchange notes that 

the proposed requirements that the 

Subscription Warrants at the time of 

initial listing must have an aggregate 

exercise price of at least $250 million 

and that there be publicly-held 

Subscription Warrants with an aggregate 

exercise price of at least $200 million 

significantly exceeds the listing 

requirements for SPACs set forth in 

Section 102.06 of the Manual, which 

requires a SPAC to have an aggregate 

market value of $100 million and a 

market value of publicly-held shares of 

$80 million. 

The Exchange believes that its 

existing surveillance procedures are 

adequate to enable it to detect 

manipulative trading practices with 

respect to Subscription Warrants. The 

Exchange notes that the NYSE and other 

self-regulatory organizations have 

extensive experience in conducting 

surveillance of the trading in securities 

whose value, like that of Subscription 

Warrants, is substantially dependent on 

the issuer’s future acquisition of a yetto-be-identified operating asset. Such 

similar securities include the common 

stock and warrants of listed special 

purpose acquisition companies 

(‘‘SPACs’’) and options on listed SPAC 

common stocks. The Exchange also 

believes that the extensive experience 

that exists in the trading of these kinds 

of securities provides evidence that 

market participants are generally able to 

arrive at market prices for such 

securities without excessive volatility 

and that this experience provides a 

reasonable basis for understanding how 

Subscription Warrants are likely to 

trade. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule would be available in a 

non-discriminatory way to any company 

satisfying its requirements, as well as all 

other applicable NYSE listing 

requirements. In addition, the proposed 

rule change does not impose any burden 

on the competition with other listing 

exchanges; any competing exchange 

could similarly adopt rules to allow the 

listing of Subscription Warrants. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change, as modified by Amendment No. 

2, is consistent with the Act. Comments 

may be submitted by any of the 

following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSE–2021–45 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to: Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2021–45. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSE–2021–45 and should 

be submitted on or before March 29, 

2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–04836 Filed 3–7–22; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 11672] 

Notice of Determinations; Culturally 

Significant Objects Being Imported for 

Storage and Exhibition— 

Determinations: ‘‘Cartier and Islamic 

Art: In Search of Modernity’’ Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 


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Federal Register / Vol. 87, No. 45 / Tuesday, March 8, 2022 / Notices 13039 

1The pleadings in this docket were originally 

filed in Docket No. FD 36580, but given that the 

trackage rights at issue are the same as those in 

Docket No. FD 36486, this proceeding has been 

changed to a subdocket of that original proceeding. 

2 GNBC states that it originally acquired overhead 

trackage rights granted by BNSF’s predecessor 

between Snyder Yard at milepost 664.00 and 

Quanah at milepost 723.30 allowing GNBC to 

interchange at Quanah with BNSF and Union 

Pacific Railroad Company. According to GNBC, 

these original trackage rights were supplemented in 

2009 to allow GNBC to operate between Snyder, 

Okla., and Altus, with the right to perform limited 

local service at Long, Okla. See Grainbelt Corp.— 

Trackage Rts. Exemption—BNSF Ry. & Stillwater 

Cent. R.R., FD 35332 (STB served Dec. 17, 2009). 

The trackage rights were further amended in 2013 

to allow GNBC to provide local grain service to a 

shuttle facility in Headrick, Okla., and again in 

2014 to allow GNBC to provide local service to a 

grain shuttle facility in Eldorado, Okla. See 

Grainbelt Corp.—Trackage Rts. Exemption—BNSF 

Ry., FD 35719 (STB served Mar. 15, 2013); Grainbelt 

Corp.—Trackage Rts. Exemption—BNSF Ry., FD 

35831 (STB served June 12, 2014). Finally, in 2021, 

BNSF and GNBC amended the trackage rights again 

to include the PCCA Trackage Rights. See Grainbelt 

Corp.—Trackage Rts. Exemption—BNSF Ry., FD 

36486 (STB served Mar. 12, 2021). Subsequently, in 

Docket No. FD 36486 (Sub-No. 1), the Board granted 

GNBC a petition for partial revocation of the 

trackage rights exemption to allow them to expire 

on March 28, 2022. See Grainbelt Corp.—Trackage 

Rts. Exemption—BNSF Ry., FD 36486 (Sub-No. 1) 

(STB served Apr. 20, 2021). GNBC now seeks to 

extend the term of the PCCA Trackage Rights for an 

additional year, to March 28, 2023. 

3On February 23,2022, GNBC filed a letter to 

clarify that the trackage rights at issue in this 

proceeding are the PCCA Trackage Rights. 

4 GNBC states that its verified notice is related to 

a petition for partial revocation filed in Docket No. 

FD 36580 (Sub-No. 1), in which GNBC seeks 

authority to allow the trackage rights at issue here 

to expire automatically twelve months after the 

effective date of this exemption. GNBC’s petition for 

partial revocation will be addressed in a separate 

decision, redocketed in Docket No. FD 36486 (SubNo. 3). 

determine that certain objects being 

imported from abroad pursuant to 

agreements with their foreign owners or 

custodians for temporary storage and 

display in the exhibition ‘‘Cartier and 

Islamic Art: In Search of Modernity’’ at 

the Dallas Museum of Art, Dallas, Texas, 

and at possible additional exhibitions or 

venues yet to be determined, are of 

cultural significance, and, further, that 

their temporary storage and exhibition 

or display within the United States as 

aforementioned are in the national 

interest. I have ordered that Public 

Notice of these determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: Chi 

D. Tran, Program Administrator, Office 

of the Legal Adviser, U.S. Department of 

State (telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, 

L/PD, 2200 C Street, NW (SA–5), Suite 

5H03, Washington, DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 

2000, and Delegation of Authority No. 

523 of December 22, 2021. 

Stacy E. White, 

Deputy Assistant Secretary for Professional 

and Cultural Exchanges, Bureau of 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. 2022–04863 Filed 3–7–22; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice: 11673] 

Notice of Determinations; Culturally 

Significant Object Being Imported for 

Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that a certain object, entitled 

‘‘A Lavish Still Life with Terracotta 

Vase, A Clump of Cyclamen and 

Scattered Diamonds and Sapphires’’ by 

Jan Brueghel the Elder, being imported 

from abroad pursuant to an agreement 

with its foreign owner or custodian for 

temporary exhibition or display at The 

J. Paul Getty Museum at the Getty 

Center, Los Angeles, California, and at 

possible additional exhibitions or 

venues yet to be determined, is of 

cultural significance, and, further, that 

its temporary exhibition or display 

within the United States as 

aforementioned is in the national 

interest. I have ordered that Public 

Notice of these determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: Chi 

D. Tran, Program Administrator, Office 

of the Legal Adviser, U.S. Department of 

State (telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, 

L/PD, 2200 C Street NW (SA–5), Suite 

5H03, Washington, DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 

2000, and Delegation of Authority No. 

523 of December 22, 2021. 

Stacy E. White, 

Deputy Assistant Secretary for Professional 

and Cultural Exchanges, Bureau of 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. 2022–04867 Filed 3–7–22; 8:45 am] 

BILLING CODE 4710–05–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36486 (Sub-No. 2)] 

Grainbelt Corporation—Trackage 

Rights Exemption—BNSF Railway 

Company 

Grainbelt Corporation (GNBC), a Class 

III rail carrier, has filed a verified notice 

of exemption under 49 CFR 

1180.2(d)(7) 1 to extend the term of the 

previously amended, local trackage 

rights on trackage owned by BNSF 

Railway Company (BNSF) between 

approximately milepost 668.73 in Long, 

Okla., and approximately milepost 

723.30 in Quanah, Tex. (the Line), 

allowing GNBC to (1) use the Line to 

access the Plains Cotton Cooperative 

Association (PCCA) facility near BNSF 

Chickasha Subdivision milepost 688.6 

at Altus, Okla., and (2) operate 

additional trains on the Line to 

accommodate the movement of trains 

transporting BNSF customers’ railcars 

(loaded or empty) located along the 

Line, to unit train facilities on the Line 

(collectively, the PCCA Trackage 

Rights).2 GNBC and BNSF have entered 

into an amendment to extend the PCCA 

Trackage Rights 3 until March 28, 2023.4

The transaction may be consummated 

on or after March 22, 2022, the effective 

date of the exemption. 

As a condition to this exemption, any 

employees affected by the acquisition of 

the trackage rights will be protected by 

the conditions imposed in Norfolk & 

Western Railway—Trackage Rights— 

Burlington Northern, Inc., 354 I.C.C. 605 

(1978), as modified in Mendocino Coast 

Railway—Lease & Operate—California 

Western Railroad, 360 I.C.C. 653 (1980). 

If the notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the effectiveness of 

the exemption. Petitions for stay must 

be filed no later than March 15, 2022 (at 

least seven days before the exemption 

becomes effective). 

All pleadings, referring to Docket No. 

FD 36486 (Sub-No. 2), should be filed 

with the Surface Transportation Board 


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