SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 25 26 96% 5,439 5,642 96%
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 1,593 377,751
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 182 39,996
Announced acquisition 101 16,798
Completed acquisition 793 185,010
Liquidated 517 135,947
Total 1,593 377,751
SPAC IPO pipeline 76 10,519

Recent SPAC IPO Performance

Symbol Name Price Unit Return
WPACU White Pearl 0.00 -1
MEVOU M Evo II 10.04 0.4%
MUZEU Muzero 10.00 0.0%
NBRGU Newbridge 9.99 -0.1%
KTWOU K2 10.04 0.4%
UAC/U United 10.00 0.0%
XSLLU Xsolla 9.94 -0.6%
KRAQU KRAKacquisition 10.05 0.5%
SAAQU Space Asset 10.21 2.1%
GIXXU GigCapital9 10.04 0.4%
MLAAU Mountain Lake II 10.01 0.1%
ALOVU Aldabra 4 Liquidity 10.04 0.4%
HLXC Helix III 10.30 3.0%
ARCIU Archimedes III 10.15 1.5%
LEGO/U Legato IV 14.30 43.0%
PTORU Praetorian 9.98 -0.2%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 152.84 3658%
VRT Vertiv 190.69 2404%
ASTS AST SpaceMobile 105.50 1425%
LMB Limbach Holdings 85.93 1217%
RKLB Rocket Lab 75.30 866%
TGLS Tecnoglass 48.40 788%
MP MP Materials 61.00 675%
OKLO Oklo 74.17 642%
BLBD Blue Bird 51.49 615%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 54.95 450%
IONQ IonQ 39.03 359%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 31.57 283%
IMVT Immunovant 26.08 234%
DKNG DraftKings 27.60 230%
IRDM Iridium 19.77 220%
MGY Magnolia Oil & Gas 24.77 192%
MIR Mirion Technologies 24.93 183%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
ROIV Roivant Sciences 21.97 172%
BWMX Betterware 18.74 160%
PWP Perella Weinberg 22.11 156%
SOFI SoFi 22.17 148%
QBTS D-Wave 21.18 144%