SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 12 23 52% 1,828 6,438 28%
2024 57 133 43% 9,619 42,240 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 1,436 343,741
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 89 17,827
Announced acquisition 94 15,314
Completed acquisition 753 178,191
Liquidated 500 132,409
Total 1,436 343,741
SPAC IPO pipeline 30 4,245

Recent SPAC IPO Performance

Symbol Name Price Unit Return
AACBU Artius II 10.00 0.0%
MAYAU Maywood 10.04 0.4%
ATIIU Archimedes II 10.03 0.3%
KFIIU K&F Growth II 10.02 0.2%
FGMCU FG Merger II 9.82 -1.8%
SVCCU Steller V 10.04 0.4%
DMAAU Drugs Made in America 10.08 0.8%
COLAU Columbus 10.08 0.8%
HVIIU Hennessy VII 10.04 0.4%
PLMKU Plum IV 10.06 0.6%
RIBBU Ribbon 10.12 1.2%
CEPO Cantor Equity Partners I 10.64 6.4%
TDACU Translational Development 10.10 1.0%
RANGU Range 10.15 1.5%
MLACU Mountain Lake 10.17 1.7%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 73.52 1675%
TGLS Tecnoglass 75.78 1336%
VRT Vertiv 108.00 1302%
LMB Limbach Holdings 90.68 1293%
DKNG DraftKings 53.10 570%
CERE Cerevel Therapeutics 44.98 461%
IRDM Iridium 31.79 461%
BLBD Blue Bird 36.36 388%
WSC Williams Scotsman 36.07 384%
SMPL Simply Good Foods 37.69 364%
TWNK Hostess Brands 33.32 342%
IONQ IonQ 37.37 338%
MLTX MoonLake Immunotherapeutics 43.50 335%
ASTS AST SpaceMobile 32.18 325%
SOC Sable Offshore 30.99 307%
DJT Trump Media 30.54 301%
RKLB Rocket Lab 28.15 237%
VRRM Verra Mobility 26.33 213%
SMR NuScale Power 23.24 191%
GDYN Grid Dynamics 22.70 183%
OWL Blue Owl Capital 23.94 181%
PWP Perella Weinberg 23.83 179%
MP MP Materials 23.72 178%
MGY Magnolia Oil & Gas 23.50 175%