SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 113 173 65% 22,098 138,709 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 1,681 394,410
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 237 51,048
Announced acquisition 102 16,339
Completed acquisition 818 189,842
Liquidated 524 137,182
Total 1,681 394,410
SPAC IPO pipeline 83 11,192

Recent SPAC IPO Performance

Symbol Name Price Unit Return
GHXIU Gores XI 10.05 0.6%
CAES Cantor Equity Partners VII 10.07 0.7%
YICCU Yorkville 10.04 0.4%
JABRU JAB 10.03 0.3%
SHOTU RMG ML Sports 9.98 -0.2%
OCAC/U Ocean Capital 10.22 2.2%
ISNRU Snow Rothschild 0.00 -1
IPVVU InterPrivate V 9.95 -0.5%
LTGRU Long Table 10.03 0.3%
AESPU Aeon I 10.07 0.7%
APMCU AmperCap 10.00 0.0%
FTRA/U FutureCorp Space 10.15 1.5%
KEYYU Keystone 10.33 3.3%
BIDWU Tribeca 10.03 0.3%
DGAC/U Disciplined 10.03 0.3%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 320.82 4139%
PRIM Primoris 93.55 2176%
LMB Limbach Holdings 83.56 1179%
RKLB Rocket Lab 87.41 1027%
BLBD Blue Bird 76.12 984%
ASTS AST SpaceMobile 69.81 890%
TGLS Tecnoglass 46.24 745%
IRDM Iridium 43.08 687%
MP MP Materials 57.44 628%
IONQ IonQ 54.43 552%
CERE Cerevel Therapeutics 44.98 461%
OUST Ouster 41.08 459%
OKLO Oklo 54.63 446%
IMVT Immunovant 38.09 414%
BRUN Boost Run 34.56 361%
ROIV Roivant Sciences 33.44 344%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 32.70 298%
SYM Symbotic 38.76 288%
WSC Williams Scotsman 28.63 272%
MGY Magnolia Oil & Gas 26.26 212%
PL Planet Labs 26.71 198%
DKNG DraftKings 25.00 195%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
QBTS D-Wave 23.29 172%