SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 81 119 68% 16,475 37,125 44%
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 1,649 388,787
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 218 47,481
Announced acquisition 98 16,034
Completed acquisition 811 188,349
Liquidated 521 136,809
Total 1,648 388,672
SPAC IPO pipeline 79 10,296

Recent SPAC IPO Performance

Symbol Name Price Unit Return
MTNE/U CH4 Natural Solutions 10.01 0.1%
QLEP/U Quantum Leap 10.01 0.1%
ARCLU ARC Group 10.02 0.2%
FTHAU Forefront Tech 10.00 0.0%
GCGRU General Catalyst 10.08 0.8%
MCAHU Mountain Crest 6 10.04 0.4%
RREVU RRE Ventures 9.98 -0.2%
WENC/U West Enclave 10.01 0.1%
CAIIU Collective II 9.96 -0.4%
CXIIU Churchill XII 10.13 1.3%
IACQU Irenic 10.00 0.0%
PLUN/U Plutonian II 10.01 0.1%
JATT JATT II 10.80 8.0%
NHIVU NewHold IV 10.03 0.3%
QRED/U QuasarEdge 10.02 0.2%
MYXXU Maywood 2 10.08 0.8%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 354.48 4588%
PRIM Primoris 145.43 3473%
LMB Limbach Holdings 107.92 1569%
RKLB Rocket Lab 79.70 924%
ASTS AST SpaceMobile 66.60 841%
MP MP Materials 68.96 781%
BLBD Blue Bird 62.00 773%
TGLS Tecnoglass 43.09 682%
IRDM Iridium 39.40 613%
OKLO Oklo 70.20 602%
IONQ IonQ 49.41 489%
SYM Symbotic 58.30 483%
CERE Cerevel Therapeutics 44.98 461%
TWNK Hostess Brands 33.32 342%
PL Planet Labs 37.35 325%
ROIV Roivant Sciences 28.70 273%
MGY Magnolia Oil & Gas 30.30 266%
NAMS NewAmesterdam Pharma 29.86 260%
IMVT Immunovant 27.75 259%
OCS Oculis 27.75 232%
LUNR Intuitive Machines 25.25 221%
DKNG DraftKings 24.42 187%
WSC Williams Scotsman 22.80 184%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
QBTS D-Wave 22.04 156%