SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 144 219 66% 28,417 190,005 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 1,712 400,752
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 253 54,364
Announced acquisition 104 16,131
Completed acquisition 824 191,092
Liquidated 530 138,944
Total 1,711 400,532
SPAC IPO pipeline 78 9,797

Recent SPAC IPO Performance

Symbol Name Price Unit Return
XTERU Karman Line 9.95 -0.5%
NSAIU NorthStrive 9.99 -0.1%
TBCVU Thunder Bridge V 9.90 -1.0%
OCLTU OceanLight 9.99 -0.1%
PNAQ/U Pinnacle 9.92 -0.8%
THEOU BOA II 10.14 1.4%
TCGX TCGX 15.59 55.9%
FJDIU ARC Group Securities 9.97 -0.3%
XIIIU Churchill XIII 10.41 4.1%
EWAVU East West 9.97 -0.3%
CATLU Catalyst 9.98 -0.2%
MTAKU Market Technology 9.97 -0.3%
PLCIU Pelican II 10.01 0.1%
NCOOU Southern Cross 10.05 0.5%
BRTMU B&R Technology 9.94 -0.6%
AMACU AMR Resources 9.96 -0.4%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 256.99 3288%
PRIM Primoris 78.67 1804%
RKLB Rocket Lab 72.03 822%
ASTS AST SpaceMobile 63.34 793%
IRDM Iridium 47.99 785%
BLBD Blue Bird 61.70 768%
TGLS Tecnoglass 40.66 633%
MP MP Materials 53.35 573%
LMB Limbach Holdings 43.48 538%
IMVT Immunovant 43.98 502%
CERE Cerevel Therapeutics 44.98 461%
OUST Ouster 37.84 410%
ROIV Roivant Sciences 36.88 396%
IONQ IonQ 40.66 380%
TWNK Hostess Brands 33.32 342%
NESR National Energy Services Reunited 33.03 338%
SYM Symbotic 40.99 310%
OKLO Oklo 40.90 309%
MGY Magnolia Oil & Gas 28.14 237%
NAMS NewAmesterdam Pharma 27.65 230%
RSI Rush Street Interactive 25.74 229%
DKNG DraftKings 24.78 192%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
WSC Williams Scotsman 22.05 173%
PL Planet Labs 21.64 137%