SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 146 221 66% 28,628 190,216 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 1,714 400,962
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 254 54,230
Announced acquisition 103 16,171
Completed acquisition 826 191,397
Liquidated 530 138,944
Total 1,713 400,742
SPAC IPO pipeline 80 10,342

Recent SPAC IPO Performance

Symbol Name Price Unit Return
JTTT JATT III 11.57 15.7%
SCATU Southern Cross II 9.99 -0.1%
XTERU Karman Line 9.94 -0.6%
NSAIU NorthStrive 9.99 -0.1%
TBCVU Thunder Bridge V 9.95 -0.5%
OCLTU OceanLight 10.01 0.1%
PNAQ/U Pinnacle 9.96 -0.4%
TCGX TCGX 13.96 39.6%
THEOU BOA II 10.12 1.3%
FJDIU ARC Group Securities 9.98 -0.2%
XIIIU Churchill XIII 10.57 5.7%
EWAVU East West 9.99 -0.1%
CATLU Catalyst 9.99 -0.1%
MTAKU Market Technology 9.98 -0.2%
PLCIU Pelican II 10.03 0.3%
NCOOU Southern Cross 10.10 1.0%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 262.69 3364%
PRIM Primoris 77.66 1779%
IRDM Iridium 47.04 766%
RKLB Rocket Lab 66.32 746%
BLBD Blue Bird 60.21 746%
ASTS AST SpaceMobile 59.79 739%
MP MP Materials 58.53 642%
TGLS Tecnoglass 40.83 637%
LMB Limbach Holdings 41.86 512%
IMVT Immunovant 43.93 501%
CERE Cerevel Therapeutics 44.98 461%
ROIV Roivant Sciences 36.83 395%
OUST Ouster 35.80 380%
IONQ IonQ 40.21 374%
NESR National Energy Services Reunited 33.34 343%
TWNK Hostess Brands 33.32 342%
OKLO Oklo 41.21 312%
SYM Symbotic 40.65 307%
RSI Rush Street Interactive 26.52 240%
NAMS NewAmesterdam Pharma 27.31 226%
MGY Magnolia Oil & Gas 26.34 213%
DKNG DraftKings 25.09 196%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
WSC Williams Scotsman 21.36 163%
PL Planet Labs 21.11 130%