SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 149 224 67% 29,063 190,651 15%
2025 144 230 63% 30,394 77,365 39%
2024 57 133 43% 9,646 42,267 23%
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 29 253 11% 2,161 61,941 3%
2004 12 268 4% 485 72,865 1%
2003 1 127 1% 24 49,954 0%
Total 1,717 401,397
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 258 54,805
Announced acquisition 101 15,743
Completed acquisition 827 191,685
Liquidated 531 139,164
Total 1,717 401,397
SPAC IPO pipeline 79 10,187

Recent SPAC IPO Performance

Symbol Name Price Unit Return
TLACU Three Lions 9.95 -0.5%
IPHXU Inflection Point VIII 10.12 1.2%
JTTT JATT III 10.85 8.5%
SCATU Southern Cross II 9.98 -0.2%
RNAQU Rainier 10.18 1.8%
XTERU Karman Line 9.94 -0.6%
NSAIU NorthStrive 10.03 0.3%
TBCVU Thunder Bridge V 9.93 -0.7%
OCLTU OceanLight 10.47 4.7%
PNAQ/U Pinnacle 9.97 -0.3%
TCGX TCGX 14.30 43.0%
THEOU BOA II 10.15 1.5%
FJDIU ARC Group Securities 9.99 -0.1%
XIIIU Churchill XIII 10.57 5.7%
EWAVU East West 9.80 -2.0%
CATLU Catalyst 9.98 -0.2%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 257.27 3292%
PRIM Primoris 74.24 1693%
ASTS AST SpaceMobile 62.60 781%
IRDM Iridium 47.53 776%
BLBD Blue Bird 61.71 768%
RKLB Rocket Lab 63.87 713%
LMB Limbach Holdings 48.16 613%
TGLS Tecnoglass 38.52 590%
MP MP Materials 54.65 590%
CERE Cerevel Therapeutics 44.98 461%
IMVT Immunovant 39.49 435%
OUST Ouster 35.09 369%
NESR National Energy Services Reunited 34.01 353%
ROIV Roivant Sciences 33.69 348%
IONQ IonQ 37.86 345%
TWNK Hostess Brands 33.32 342%
SYM Symbotic 39.80 298%
OKLO Oklo 39.42 294%
RSI Rush Street Interactive 26.17 235%
MGY Magnolia Oil & Gas 27.38 227%
NAMS NewAmesterdam Pharma 25.50 202%
DKNG DraftKings 24.22 185%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
WSC Williams Scotsman 19.58 136%
PL Planet Labs 20.52 123%