Sponsor Promote and Compensation Act

This bill requires the Securities and Exchange Commission (SEC) to create new disclosure rules for "blank check companies" (companies that raise funds before identifying a target company) during their initial public offering or before a merger. It mandates that these companies disclose specific financial details, including the expected cash per share under different redemption scenarios, any side payments or agreements involving sponsors or investors (and how they affect ownership), and fees paid to sponsors or underwriters. These disclosures aim to provide clearer information, especially for retail investors, about the financial structure and potential risks before a merger. The rules must be implemented within 120 days of the bill becoming law.