SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 147 222 66% 28,688 190,276 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 1,715 401,022
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 254 54,117
Announced acquisition 103 16,056
Completed acquisition 827 191,685
Liquidated 530 138,944
Total 1,714 400,802
SPAC IPO pipeline 79 10,267

Recent SPAC IPO Performance

Symbol Name Price Unit Return
JTTT JATT III 11.09 10.9%
SCATU Southern Cross II 10.00 0.0%
XTERU Karman Line 9.96 -0.4%
NSAIU NorthStrive 10.01 0.1%
TBCVU Thunder Bridge V 9.94 -0.6%
OCLTU OceanLight 10.03 0.3%
PNAQ/U Pinnacle 9.96 -0.4%
TCGX TCGX 13.88 38.8%
THEOU BOA II 10.16 1.6%
FJDIU ARC Group Securities 9.98 -0.2%
XIIIU Churchill XIII 10.59 5.9%
EWAVU East West 10.03 0.3%
CATLU Catalyst 9.97 -0.3%
MTAKU Market Technology 9.96 -0.4%
PLCIU Pelican II 10.03 0.3%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 268.35 3440%
PRIM Primoris 76.62 1753%
IRDM Iridium 47.32 771%
ASTS AST SpaceMobile 60.91 756%
RKLB Rocket Lab 66.82 753%
BLBD Blue Bird 60.25 746%
MP MP Materials 59.33 653%
TGLS Tecnoglass 40.01 620%
LMB Limbach Holdings 41.93 513%
IMVT Immunovant 43.48 495%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 42.53 403%
ROIV Roivant Sciences 37.24 401%
OUST Ouster 36.31 387%
NESR National Energy Services Reunited 34.90 366%
TWNK Hostess Brands 33.32 342%
OKLO Oklo 42.79 328%
SYM Symbotic 41.54 315%
RSI Rush Street Interactive 26.16 235%
NAMS NewAmesterdam Pharma 27.02 222%
MGY Magnolia Oil & Gas 26.68 217%
DKNG DraftKings 24.29 186%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
WSC Williams Scotsman 20.99 157%
BRUN Boost Run 20.22 146%