SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 26 33 79% 5,625 8,528 66%
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 1,594 377,937
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 182 39,837
Announced acquisition 101 16,798
Completed acquisition 793 185,010
Liquidated 518 136,292
Total 1,594 377,937
SPAC IPO pipeline 75 10,369

Recent SPAC IPO Performance

Symbol Name Price Unit Return
IRAB/U Iris II 9.96 -0.4%
WPAC/U White Pearl 0.00 -1
MEVOU M Evo II 10.04 0.4%
MUZEU Muzero 9.99 -0.1%
NBRGU Newbridge 10.00 0.0%
KTWOU K2 10.07 0.7%
UAC/U United 10.00 0.0%
XSLLU Xsolla 9.94 -0.6%
KRAQU KRAKacquisition 10.15 1.5%
SAAQU Space Asset 10.21 2.1%
ARCIU Archimedes III 10.11 1.1%
GIXXU GigCapital9 10.05 0.5%
MLAAU Mountain Lake II 10.01 0.1%
ALOVU Aldabra 4 Liquidity 10.01 0.1%
HLXC Helix III 10.20 2.0%
LEGO/U Legato IV 14.30 43.0%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 154.01 3688%
VRT Vertiv 188.25 2372%
ASTS AST SpaceMobile 114.81 1565%
LMB Limbach Holdings 90.13 1285%
RKLB Rocket Lab 80.36 933%
TGLS Tecnoglass 49.56 811%
MP MP Materials 64.20 718%
OKLO Oklo 77.32 673%
BLBD Blue Bird 52.43 629%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 56.01 460%
IONQ IonQ 38.34 351%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 33.99 315%
IMVT Immunovant 25.80 229%
DKNG DraftKings 26.73 218%
IRDM Iridium 19.51 215%
MGY Magnolia Oil & Gas 26.23 211%
MIR Mirion Technologies 25.46 189%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
ROIV Roivant Sciences 21.97 172%
BWMX Betterware 18.09 147%
QBTS D-Wave 21.28 145%
PWP Perella Weinberg 21.20 144%
SOFI SoFi 21.61 141%