SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 4 13 31% 452 4,643 10%
2023 31 72 43% 3,848 25,148 15%
2022 86 118 73% 13,431 22,881 59%
2021 613 968 63% 162,503 334,650 49%
2020 248 450 55% 83,386 179,389 46%
2019 59 213 28% 13,600 72,200 19%
2018 46 225 20% 10,750 63,890 17%
2017 34 189 18% 10,048 50,268 20%
2016 13 111 12% 3,499 25,779 14%
2015 20 173 12% 3,902 39,232 10%
2014 12 258 5% 1,750 93,040 2%
2013 10 220 5% 1,447 70,777 2%
2012 9 147 6% 490 50,131 1%
2011 16 144 11% 1,110 43,240 3%
2010 7 166 4% 503 50,583 1%
2009 1 70 1% 36 21,676 0%
2008 17 47 36% 3,842 30,092 13%
2007 66 299 22% 12,094 87,204 14%
2006 37 214 17% 3,384 55,754 6%
2005 28 252 11% 2,113 61,893 3%
2004 12 268 4% 485 72,865 1%
2003 1 127 1% 24 49,954 0%
Total 1,370 332,699
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 88 16,692
Announced acquisition 134 27,522
Completed acquisition 698 167,082
Liquidated 446 120,267
Total 1,366 331,564
SPAC IPO pipeline 51 5,402

Recent SPAC IPO Performance

Symbol Name Price Unit Return
DYCQU DT Cloud 10.17 1.7%
HLXB Helix II 10.22 2.2%
LEGT/U Legato III 10.11 1.1%
JVSAU JVSPAC 10.25 2.5%
IROHU Iron Horse 10.05 0.5%
BAYAU Bayview 10.30 3.0%
AFJKU Aimei Health 10.39 3.9%
CLBR/U Colombier II 10.39 3.9%
GLACU Global Lights 10.35 3.5%
ANSCU Agriculture & Natural Solutions 10.21 2.1%
AITRU AI Transportation 10.59 5.9%
QETAU Quetta 10.28 2.8%
SPKLU Spark I 10.13 1.3%
NNAGU 99 / Nava Health 10.49 4.9%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 76.95 888%
PRIM Primoris 40.32 845%
TGLS Tecnoglass 45.42 728%
WSC Williams Scotsman 45.82 530%
DKNG DraftKings 43.34 440%
CERE Cerevel Therapeutics 42.22 425%
MLTX MoonLake Immunotherapeutics 48.56 386%
DWAC Digital World / Trump Media 36.00 383%
IRDM Iridium 27.50 375%
SYM Symbotic 44.85 348%
TWNK Hostess Brands 33.32 342%
BLBD Blue Bird 32.20 326%
SMPL Simply Good Foods 34.54 322%
IMVT Immunovant 30.27 297%
VRRM Verra Mobility 24.55 189%
MGY Magnolia Oil & Gas 24.26 185%
BWMX Betterware 18.50 155%
IMXI Intermex Wire Transfer 20.80 154%
NAMS NewAmesterdam Pharma 21.60 150%
UTZ Utz Brands 17.92 101%
OWL Blue Owl Capital 17.43 94%
HPK HighPeak Energy 15.66 77%
ROIC Retail Opportunity Investments (ROI) 12.61 77%