SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 117 177 66% 22,968 139,579 16%
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 1,685 395,279
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 238 51,489
Announced acquisition 104 16,594
Completed acquisition 819 190,014
Liquidated 524 137,182
Total 1,685 395,279
SPAC IPO pipeline 80 10,742

Recent SPAC IPO Performance

Symbol Name Price Unit Return
AAC/U Ares III 10.06 0.6%
ALPXU Alpex 10.03 0.3%
FWACU Futurewave 10.03 0.3%
CGCFU Cartesian IV 10.00 0.0%
GHXIU Gores XI 10.15 1.5%
TVIVU Texas Ventures IV 10.03 0.3%
WLCOU Wilco 63 9.96 -0.4%
CAES Cantor Equity Partners VII 10.09 0.9%
YICCU Yorkville 10.05 0.5%
JABRU JAB 10.04 0.4%
SHOTU RMG ML Sports 9.98 -0.2%
OCAC/U Ocean Capital 10.23 2.3%
ISNRU Snow Rothschild 0.00 -1
IPVVU InterPrivate V 9.93 -0.7%
LTGRU Long Table 10.03 0.3%
AESPU Aeon I 10.10 1.0%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 328.15 4237%
PRIM Primoris 96.65 2254%
RKLB Rocket Lab 103.22 1238%
ASTS AST SpaceMobile 88.94 1177%
LMB Limbach Holdings 77.83 1088%
BLBD Blue Bird 78.25 1016%
IRDM Iridium 54.25 910%
OUST Ouster 61.98 772%
TGLS Tecnoglass 45.38 728%
MP MP Materials 55.36 600%
IONQ IonQ 53.59 541%
CERE Cerevel Therapeutics 44.98 461%
IMVT Immunovant 38.60 422%
OKLO Oklo 51.59 416%
BRUN Boost Run 36.16 385%
ROIV Roivant Sciences 35.66 377%
SYM Symbotic 44.87 349%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.00 315%
PL Planet Labs 33.41 278%
WSC Williams Scotsman 28.94 277%
MGY Magnolia Oil & Gas 25.78 205%
DKNG DraftKings 25.17 197%
QBTS D-Wave 23.98 181%
ROIC Retail Opportunity Investments (ROI) 17.49 175%