SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 140 215 65% 27,686 189,274 15%
2025 144 230 63% 30,394 77,365 39%
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 1,708 399,997
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 251 54,506
Announced acquisition 105 16,304
Completed acquisition 825 191,161
Liquidated 526 137,682
Total 1,707 399,652
SPAC IPO pipeline 77 9,636

Recent SPAC IPO Performance

Symbol Name Price Unit Return
THEOU BOA II 10.10 1.0%
TCGX TCGX 12.94 29.4%
FJDIU ARC Group Securities 9.96 -0.4%
XIIIU Churchill XIII 10.45 4.5%
EWAVU East West 9.94 -0.6%
CATLU Catalyst 10.00 0.0%
MTAKU Market Technology 9.97 -0.3%
PLCIU Pelican II 9.97 -0.3%
NCOOU Southern Cross 10.87 8.7%
BRTMU B&R Technology 9.97 -0.3%
AMACU AMR Resources 9.94 -0.6%
JONEU Jones Ventures 9.93 -0.7%
RACD Research Alliance IV 11.52 15.2%
SAMO/U Samos Energy 9.92 -0.8%
CCCTU Columbus Circle III 10.00 0.0%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 274.64 3524%
PRIM Primoris 83.15 1916%
RKLB Rocket Lab 81.39 947%
ASTS AST SpaceMobile 71.13 909%
BLBD Blue Bird 67.45 854%
IRDM Iridium 49.72 819%
TGLS Tecnoglass 44.67 713%
LMB Limbach Holdings 47.83 608%
MP MP Materials 52.44 561%
OUST Ouster 43.41 494%
CERE Cerevel Therapeutics 44.98 461%
IMVT Immunovant 39.25 431%
IONQ IonQ 43.49 415%
OKLO Oklo 48.47 385%
ROIV Roivant Sciences 36.05 383%
TWNK Hostess Brands 33.32 342%
SYM Symbotic 40.30 303%
NAMS NewAmesterdam Pharma 27.76 232%
RSI Rush Street Interactive 25.36 223%
WSC Williams Scotsman 25.29 222%
MGY Magnolia Oil & Gas 25.33 199%
DKNG DraftKings 23.57 176%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
PL Planet Labs 23.84 163%
QBTS D-Wave 20.36 133%