SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 41 48 85% 8,880 11,783 75%
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 1,609 381,191
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 196 43,195
Announced acquisition 101 16,280
Completed acquisition 794 185,424
Liquidated 518 136,292
Total 1,609 381,191
SPAC IPO pipeline 69 9,149

Recent SPAC IPO Performance

Symbol Name Price Unit Return
WLIIU Willow II 10.07 0.7%
RFAMU RF III 9.91 -0.9%
HACQU HCM IV 10.05 0.5%
PAACU Proem 9.98 -0.2%
XFLH/U XFLH Capital 9.96 -0.4%
CMIIU Columbus Circle II 10.00 0.0%
DBCAU D. Boral 9.97 -0.3%
IACOU Idea 9.93 -0.7%
TMTSU Spartacus II 10.05 0.5%
SSACU SPACSphere 10.03 0.3%
SVIVU Spring Valley IV 10.12 1.2%
CAQUU Cambridge 9.97 -0.3%
CEPS Cantor Equity Partners VI 10.14 1.4%
HCICU Hennessy VIII 10.03 0.3%
CLBR/U Colombier III 10.18 1.8%
IRAB/U Iris II 9.95 -0.5%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 167.20 4017%
VRT Vertiv 233.41 2974%
LMB Limbach Holdings 89.45 1274%
ASTS AST SpaceMobile 81.65 1067%
TGLS Tecnoglass 53.07 881%
RKLB Rocket Lab 66.69 751%
BLBD Blue Bird 57.47 705%
MP MP Materials 57.89 634%
OKLO Oklo 65.41 554%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 55.41 454%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.56 322%
IONQ IonQ 34.01 296%
IRDM Iridium 23.29 291%
ROIV Roivant Sciences 26.45 239%
IMVT Immunovant 25.57 226%
MGY Magnolia Oil & Gas 26.76 218%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
WSC Williams Scotsman 21.70 168%
PWP Perella Weinberg 21.71 151%
DKNG DraftKings 21.68 151%
MIR Mirion Technologies 22.26 150%
BWMX Betterware 18.15 148%
QBTS D-Wave 19.48 121%