SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 82 120 68% 16,575 37,225 45%
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 1,650 388,887
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 219 47,581
Announced acquisition 98 16,034
Completed acquisition 811 188,349
Liquidated 521 136,809
Total 1,649 388,772
SPAC IPO pipeline 78 10,236

Recent SPAC IPO Performance

Symbol Name Price Unit Return
MTNE/U CH4 Natural Solutions 10.00 0.0%
QLEP/U Quantum Leap 10.03 0.3%
ARCLU ARC Group 10.03 0.2%
FTHAU Forefront Tech 9.95 -0.5%
GCGRU General Catalyst 10.09 0.9%
MCAHU Mountain Crest 6 10.02 0.2%
RREVU RRE Ventures 9.99 -0.1%
WENC/U West Enclave 10.01 0.1%
CAIIU Collective II 9.94 -0.6%
CXIIU Churchill XII 10.11 1.1%
IACQU Irenic 10.00 0.0%
PLUN/U Plutonian II 10.01 0.1%
JATT JATT II 10.51 5.1%
NHIVU NewHold IV 10.01 0.1%
QRED/U QuasarEdge 10.04 0.4%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 358.98 4648%
PRIM Primoris 102.70 2405%
LMB Limbach Holdings 78.87 1104%
BLBD Blue Bird 77.61 1007%
RKLB Rocket Lab 85.08 996%
ASTS AST SpaceMobile 73.85 950%
MP MP Materials 73.09 836%
TGLS Tecnoglass 44.05 701%
OKLO Oklo 78.29 683%
IRDM Iridium 40.85 642%
IONQ IonQ 49.64 492%
SYM Symbotic 58.37 484%
CERE Cerevel Therapeutics 44.98 461%
PL Planet Labs 39.57 352%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 31.25 278%
ROIV Roivant Sciences 28.96 277%
IMVT Immunovant 28.85 275%
OCS Oculis 29.92 261%
LUNR Intuitive Machines 26.36 238%
MGY Magnolia Oil & Gas 27.77 232%
WSC Williams Scotsman 23.39 193%
DKNG DraftKings 24.11 183%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
QBTS D-Wave 23.25 172%