SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 6 24 25% 657 9,043 7%
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 1,372 332,903
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 84 15,576
Announced acquisition 130 26,328
Completed acquisition 704 168,504
Liquidated 452 121,782
Total 1,370 332,190
SPAC IPO pipeline 50 5,492

Recent SPAC IPO Performance

Symbol Name Price Unit Return
IBACU IB 10.02 0.2%
BKHAU Black Hawk 10.20 2.0%
DYCQU DT Cloud 10.25 2.5%
HLXB Helix II 10.29 2.9%
LEGT/U Legato III 10.13 1.3%
JVSAU JVSPAC / Hotel101 10.41 4.1%
IROHU Iron Horse 10.23 2.3%
BAYAU Bayview 10.25 2.5%
AFJKU Aimei Health 10.40 4.0%
CLBR/U Colombier II 10.41 4.1%
GLACU Global Lights 10.35 3.5%
ANSCU Agriculture & Natural Solutions 10.29 2.9%
AITRU AI Transportation 10.44 4.4%
QETAU Quetta 10.27 2.7%

Top Performing SPACs

Symbol Name Price Unit Return
TGLS Tecnoglass 60.00 1020%
PRIM Primoris 44.76 956%
VRT Vertiv 80.20 931%
LMB Limbach Holdings 39.46 474%
DKNG DraftKings 44.17 451%
WSC Williams Scotsman 39.95 442%
CERE Cerevel Therapeutics 41.70 418%
BLBD Blue Bird 36.55 391%
TWNK Hostess Brands 33.32 342%
MLTX MoonLake Immunotherapeutics 43.64 336%
IRDM Iridium 24.65 318%
SYM Symbotic 40.01 300%
IMVT Immunovant 30.47 300%
SMPL Simply Good Foods 32.03 289%
DJT Trump Media 26.99 247%
MGY Magnolia Oil & Gas 26.19 211%
VRRM Verra Mobility 24.17 184%
IMXI Intermex Wire Transfer 21.40 163%
BWMX Betterware 18.68 159%
NAMS NewAmesterdam Pharma 19.84 126%
OWL Blue Owl Capital 18.20 104%
UTZ Utz Brands 17.14 90%
MP MP Materials 16.33 79%