The FINRA policy regarding 15-12G filers and name/symbol changes is an idiotic policy. I posted earlier this year (see below) about how nonsensical it seems......
The shell/RM market is always very competitive and challenging. The supply/demand right now is not exactly favorable for getting reverse mergers completed. So anything that might make it easier or harder for any particular shell to complete a deal is something I take into consideration. And that FINRA 15-12G policy is just one such consideration.
Most private companies looking to go public via a shell are probably going to want the ability to change the name of the shell and get a new symbol approved. Now, if that private company intends to become a fully SEC reporting company and perhaps doesn't mind jumping through some more hoops, then the FINRA policy I have highlighted is basically a moot issue. That company can buy pretty much any shell out there, go through the process of becoming an SEC filer, and then get the name/symbol changed. But if that company for some reason does not want to become an SEC filer right now but still wants the ability to do a name/symbol change, or just generally would prefer an overall more "clean" shell with fewer potential headaches/hurdles, then that FINRA policy does become an issue.