SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 89 127 70% 17,926 38,576 46%
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 1,657 390,238
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 226 48,979
Announced acquisition 96 15,510
Completed acquisition 813 188,825
Liquidated 521 136,809
Total 1,656 390,123
SPAC IPO pipeline 74 9,551

Recent SPAC IPO Performance

Symbol Name Price Unit Return
PTACU Patriot 9.96 -0.4%
GUACU Berto II 10.00 0.0%
ETSS/U Energy Transition 9.96 -0.4%
IDACU Iron Dome 10.02 0.2%
BREZU Breeze II 10.01 0.1%
OTAI/U Starlink AI 10.02 0.2%
SAGU/U Shreya 10.05 0.5%
MTNE/U CH4 Natural Solutions 10.00 0.0%
GCGRU General Catalyst 10.15 1.5%
WENC/U West Enclave 10.04 0.4%
QLEP/U Quantum Leap 10.02 0.2%
ARCLU ARC Group 10.04 0.4%
CXIIU Churchill XII 10.14 1.4%
FTHAU Forefront Tech 9.96 -0.4%
IACQU Irenic 10.00 0.0%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 335.03 4329%
PRIM Primoris 109.39 2572%
RKLB Rocket Lab 127.86 1566%
ASTS AST SpaceMobile 83.22 1091%
LMB Limbach Holdings 74.54 1035%
BLBD Blue Bird 72.26 926%
IRDM Iridium 42.65 678%
TGLS Tecnoglass 39.28 606%
MP MP Materials 55.27 599%
OKLO Oklo 57.31 473%
IONQ IonQ 47.97 471%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 46.89 369%
PL Planet Labs 40.85 367%
LUNR Intuitive Machines 33.40 344%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.40 320%
OUST Ouster 29.40 283%
ROIV Roivant Sciences 28.39 268%
MGY Magnolia Oil & Gas 30.05 262%
IMVT Immunovant 26.71 243%
OCS Oculis 28.61 243%
DKNG DraftKings 25.69 204%
WSC Williams Scotsman 24.00 202%
ROIC Retail Opportunity Investments (ROI) 17.49 175%