SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 123 187 66% 25,188 56,132 45%
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 1,547 367,106
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 146 31,334
Announced acquisition 100 16,333
Completed acquisition 787 184,136
Liquidated 512 134,698
Total 1,545 366,501
SPAC IPO pipeline 77 12,665

Recent SPAC IPO Performance

Symbol Name Price Unit Return
IGACU Invest Green 10.02 0.2%
HCACU Hall Chadwick 10.03 0.3%
ALUB/U Alussa Energy II 10.08 0.8%
BPACU Blueport 10.05 0.6%
EVOXU Evolution Global 10.11 1.1%
CRACU Crown Reserve 10.11 1.1%
TDWDU Tailwind 2.0 10.04 0.4%
CEPV Cantor Equity Partners V 10.22 2.2%
WSTNU Westin 10.03 0.2%
VACI/U Viking 10.07 0.7%
DNMXU Dynamix III 10.12 1.2%
DYORU Insight Digital Partners II 10.07 0.7%
APXTU Apex Treasury 10.09 0.9%
LAFAU LaFayette 10.03 0.3%
MMTXU Miluna 10.01 0.1%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 124.15 2941%
VRT Vertiv 170.24 2132%
LMB Limbach Holdings 69.57 956%
TGLS Tecnoglass 48.35 787%
OKLO Oklo 85.58 756%
ASTS AST SpaceMobile 55.84 680%
SYM Symbotic 77.60 676%
MP MP Materials 58.40 640%
BLBD Blue Bird 50.81 605%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 46.92 458%
RKLB Rocket Lab 42.69 431%
NAMS NewAmesterdam Pharma 40.49 402%
TWNK Hostess Brands 33.32 342%
DKNG DraftKings 31.72 285%
SOFI SoFi 28.30 225%
IMVT Immunovant 24.42 209%
RGTI Rigetti 25.89 195%
MIR Mirion Technologies 25.42 189%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
MGY Magnolia Oil & Gas 22.97 168%
QBTS D-Wave 22.47 161%
IRDM Iridium 16.54 156%
ROIV Roivant Sciences 20.86 155%