SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 56 75 75% 11,305 20,195 56%
2024 57 133 43% 9,624 42,245 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 1,480 353,223
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 118 24,255
Announced acquisition 91 14,940
Completed acquisition 768 181,065
Liquidated 503 132,963
Total 1,480 353,223
SPAC IPO pipeline 38 5,338

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BSAAU Best 10.02 0.2%
BACCU Blue 10.05 0.5%
BLUWU Blue Water III 10.00 0.0%
JENA/U Jena II 10.28 2.8%
CHPGU ChampionsGate 10.09 0.9%
KCHVU Kochav Defense 10.15 1.5%
WTGUU Wintergreen 10.05 0.5%
CRAQU Cal Redwood 10.07 0.7%
PELIU Pelican 10.10 1.0%
OYSEU Oyster II 10.10 1.0%
AACIU Armada II 10.11 1.1%
PCAPU ProCap 11.75 17.5%
CCCMU Columbus Circle 14.28 42.8%
WENNU Wen 10.72 7.2%
RTACU Renatus Tactical 12.08 20.8%

Top Performing SPACs

Symbol Name Price Unit Return
LMB Limbach Holdings 137.50 2043%
PRIM Primoris 74.25 1694%
TGLS Tecnoglass 82.42 1468%
VRT Vertiv 110.87 1340%
OKLO Oklo 63.75 538%
BLBD Blue Bird 42.00 473%
CERE Cerevel Therapeutics 44.98 461%
SMR NuScale Power 38.96 427%
ASTS AST SpaceMobile 38.50 420%
IRDM Iridium 28.59 397%
DKNG DraftKings 36.63 350%
IONQ IonQ 37.99 346%
TWNK Hostess Brands 33.32 342%
MLTX MoonLake Immunotherapeutics 44.21 342%
SMPL Simply Good Foods 32.32 293%
MP MP Materials 30.72 271%
CEP Cantor Equity Partners / Twenty One 37.00 270%
WSC Williams Scotsman 26.50 240%
RKLB Rocket Lab 25.50 202%
SOC Sable Offshore 23.88 201%
GRND Grindr 23.01 188%
MGY Magnolia Oil & Gas 24.22 185%
VRRM Verra Mobility 24.22 185%
SYM Symbotic 28.29 183%