SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 65 72 90% 13,561 16,464 82%
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 1,633 385,873
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 207 45,297
Announced acquisition 98 15,943
Completed acquisition 808 187,953
Liquidated 520 136,681
Total 1,633 385,873
SPAC IPO pipeline 82 11,066

Recent SPAC IPO Performance

Symbol Name Price Unit Return
AACPU Apogee 10.04 0.4%
ACGCU ACP 9.96 -0.4%
FMACU Future Money 10.01 0.1%
IPFXU Inflection Point VI 10.11 1.1%
KPET/U KPET Ultra Paceline 10.00 0.0%
QADRU QDRO 9.92 -0.8%
BWIV/U Blue Water IV 9.92 -0.8%
BHAVU BHAV 10.00 0.0%
MTAL/U Metals II 10.25 2.5%
PONOU PONO Capital 4 9.98 -0.2%
SUMAU SUMA 10.04 0.4%
GLED/U GalaxyEdge / LOI Rongcheng Group 10.05 0.5%
KCAC/U Kensington Capital VI 10.08 0.8%
ILLUU Illumination 9.92 -0.8%
TRAD/U Apex Tech 10.01 0.1%
FVAV Fortress Value V 10.04 0.4%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 310.51 4002%
PRIM Primoris 166.23 3993%
LMB Limbach Holdings 87.73 1246%
ASTS AST SpaceMobile 89.00 1178%
RKLB Rocket Lab 72.50 828%
BLBD Blue Bird 64.91 816%
TGLS Tecnoglass 45.71 734%
MP MP Materials 57.36 626%
IRDM Iridium 36.12 547%
OKLO Oklo 58.92 489%
SYM Symbotic 56.56 466%
CERE Cerevel Therapeutics 44.98 461%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.44 321%
IONQ IonQ 35.95 321%
PL Planet Labs 33.70 281%
ROIV Roivant Sciences 29.10 279%
MGY Magnolia Oil & Gas 28.60 243%
IMVT Immunovant 26.55 241%
OCS Oculis 27.60 230%
LUNR Intuitive Machines 23.56 196%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
DKNG DraftKings 22.96 168%
BWMX Betterware 18.63 158%
PWP Perella Weinberg 21.50 148%