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% 9,624 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 1,712 400,729
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 254 54,514
Announced acquisition 103 15,959
Completed acquisition 824 191,092
Liquidated 530 138,944
Total 1,711 400,509
SPAC IPO pipeline 78 9,797

Recent SPAC IPO Performance

Symbol Name Price Unit Return
TBCVU Thunder Bridge V 9.89 -1.1%
OCLTU OceanLight 9.98 -0.2%
PNAQ/U Pinnacle 9.94 -0.6%
THEOU BOA II 10.14 1.5%
TCGX TCGX 14.02 40.2%
FJDIU ARC Group Securities 9.95 -0.5%
XIIIU Churchill XIII 10.51 5.1%
EWAVU East West 9.97 -0.3%
CATLU Catalyst 9.97 -0.3%
MTAKU Market Technology 9.97 -0.3%
PLCIU Pelican II 10.01 0.1%
NCOOU Southern Cross 10.08 0.8%
BRTMU B&R Technology 9.96 -0.4%
AMACU AMR Resources 9.95 -0.5%
JONEU Jones Ventures 9.91 -0.9%
RACD Research Alliance IV 11.84 18.4%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 292.93 3767%
PRIM Primoris 83.05 1914%
RKLB Rocket Lab 82.30 959%
ASTS AST SpaceMobile 71.05 908%
IRDM Iridium 48.61 797%
BLBD Blue Bird 63.22 791%
TGLS Tecnoglass 41.42 648%
MP MP Materials 58.54 642%
LMB Limbach Holdings 45.30 567%
OUST Ouster 47.50 555%
IMVT Immunovant 43.90 501%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 46.64 454%
NESR National Energy Services Reunited 35.61 377%
ROIV Roivant Sciences 35.00 368%
TWNK Hostess Brands 33.32 342%
OKLO Oklo 44.10 341%
SYM Symbotic 42.35 323%
RSI Rush Street Interactive 25.45 224%
NAMS NewAmesterdam Pharma 26.80 219%
MGY Magnolia Oil & Gas 26.79 219%
DKNG DraftKings 25.34 200%
WSC Williams Scotsman 23.58 196%
BRUN Boost Run 22.90 186%
ROIC Retail Opportunity Investments (ROI) 17.49 175%