SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 5 6 83% 1,070 1,071 100%
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 1,573 373,382
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 166 36,505
Announced acquisition 98 16,161
Completed acquisition 793 185,010
Liquidated 516 135,706
Total 1,573 373,382
SPAC IPO pipeline 82 12,037

Recent SPAC IPO Performance

Symbol Name Price Unit Return
ZKPU Lafayette Digital 9.98 -0.2%
BBCQU Bleichroeder II 10.04 0.4%
SORNU Soren 9.95 -0.5%
ARTCU Art Technology 9.99 -0.1%
BIII/U Black Spade III 10.00 0.0%
SVAQU Silicon Valley 9.96 -0.4%
SCPQU Social Commerce 10.01 0.1%
ADACU American Drive 10.00 0.0%
VHCPU Vine Hill II 10.04 0.4%
CCXIU Churchill XI 10.31 3.1%
IRHOU Iron Horse II 9.94 -0.6%
BEBE/U TGE Value 9.94 -0.6%
CRANU Crane Harbor II 10.05 0.6%
LPCVU Launchpad Cadenza 10.04 0.4%
ITHAU ITHAX III 9.98 -0.2%
TWLVU Twelve Seas III 10.00 0.0%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 129.95 3086%
VRT Vertiv 163.58 2043%
ASTS AST SpaceMobile 97.63 1307%
LMB Limbach Holdings 78.55 1099%
RKLB Rocket Lab 84.85 993%
OKLO Oklo 105.63 956%
TGLS Tecnoglass 53.73 895%
MP MP Materials 62.00 688%
SYM Symbotic 70.82 608%
BLBD Blue Bird 48.43 569%
IONQ IonQ 49.62 491%
CERE Cerevel Therapeutics 44.98 461%
TWNK Hostess Brands 33.32 342%
DKNG DraftKings 35.19 331%
NAMS NewAmesterdam Pharma 34.72 325%
QBTS D-Wave 28.28 239%
IMVT Immunovant 26.03 233%
SOFI SoFi 27.40 214%
IRDM Iridium 19.34 212%
MIR Mirion Technologies 25.70 193%
RGTI Rigetti 24.72 180%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
ROIV Roivant Sciences 21.98 172%
VRRM Verra Mobility 23.18 171%
WSC Williams Scotsman 21.88 171%