SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 96 134 72% 18,627 39,277 47%
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 1,664 390,939
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 232 49,565
Announced acquisition 97 15,625
Completed acquisition 813 188,825
Liquidated 521 136,809
Total 1,663 390,824
SPAC IPO pipeline 72 9,726

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BRKHU Burtech II 9.97 -0.3%
FXACU FortuneX 9.98 -0.2%
PECEU Peace 10.03 0.2%
APURU Aperture AC 9.99 -0.1%
OHACU Oceanhawk 10.00 0.0%
RACC Research Alliance III 10.36 3.6%
AMAN Amanat 10.16 1.6%
GUACU Berto II 10.04 0.4%
PTACU Patriot 10.23 2.3%
ETSS/U Energy Transition 9.96 -0.4%
IDACU Iron Dome 10.02 0.2%
BREZU Breeze II 10.02 0.2%
OTAI/U Starlink AI 10.03 0.3%
SAGU/U Shreya 10.11 1.1%
MTNE/U CH4 Natural Solutions 10.03 0.2%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 329.31 4252%
PRIM Primoris 118.62 2803%
RKLB Rocket Lab 135.37 1667%
ASTS AST SpaceMobile 103.84 1400%
LMB Limbach Holdings 72.11 996%
BLBD Blue Bird 66.17 835%
IRDM Iridium 47.93 784%
MP MP Materials 64.63 723%
IONQ IonQ 63.56 666%
TGLS Tecnoglass 40.66 633%
OKLO Oklo 66.41 564%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 54.62 446%
PL Planet Labs 44.30 409%
LUNR Intuitive Machines 37.40 404%
OUST Ouster 36.76 394%
IMVT Immunovant 34.47 359%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 35.07 329%
ROIV Roivant Sciences 30.48 300%
OCS Oculis 29.53 255%
MGY Magnolia Oil & Gas 29.36 253%
QBTS D-Wave 29.16 250%
WSC Williams Scotsman 24.78 214%
BRUN Boost Run 24.50 210%