SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 71 78 91% 14,790 17,693 84%
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 1,639 387,102
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 210 45,983
Announced acquisition 99 16,242
Completed acquisition 808 187,953
Liquidated 521 136,809
Total 1,638 386,987
SPAC IPO pipeline 84 11,326

Recent SPAC IPO Performance

Symbol Name Price Unit Return
JATT JATT II 10.57 5.7%
NHIVU NewHold IV 10.00 0.0%
QRED/U QuasarEdge 10.02 0.2%
MYXXU Maywood 2 10.06 0.6%
AACPU Apogee 10.05 0.5%
ACGCU ACP 10.01 0.1%
KPET/U KPET Ultra Paceline 10.05 0.5%
FMACU Future Money 10.04 0.4%
IPFXU Inflection Point VI 10.14 1.5%
QADRU QDRO 9.94 -0.6%
BWIV/U Blue Water IV 9.96 -0.4%
BHAVU BHAV 10.06 0.6%
MTAL/U Metals II 10.24 2.4%
PONOU PONO Capital 4 10.01 0.1%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 173.06 4164%
VRT Vertiv 312.28 4025%
LMB Limbach Holdings 93.14 1333%
ASTS AST SpaceMobile 75.99 982%
RKLB Rocket Lab 80.52 935%
BLBD Blue Bird 64.58 811%
MP MP Materials 63.67 711%
TGLS Tecnoglass 44.41 708%
OKLO Oklo 73.05 631%
IRDM Iridium 37.29 571%
SYM Symbotic 59.15 492%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 42.57 403%
TWNK Hostess Brands 33.32 342%
PL Planet Labs 35.09 298%
NAMS NewAmesterdam Pharma 30.48 268%
ROIV Roivant Sciences 28.23 266%
IMVT Immunovant 28.00 263%
MGY Magnolia Oil & Gas 29.80 259%
LUNR Intuitive Machines 25.82 230%
OCS Oculis 27.12 223%
WSC Williams Scotsman 22.40 178%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
DKNG DraftKings 23.40 174%
PWP Perella Weinberg 21.86 153%