SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 7 25 28% 922 9,308 10%
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 28 252 11% 2,113 61,893 3%
2004 12 268 4% 485 72,865 1%
2003 1 127 1% 24 49,954 0%
Total 1,373 333,168
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 84 16,106
Announced acquisition 127 25,199
Completed acquisition 709 169,851
Liquidated 452 121,782
Total 1,372 332,938
SPAC IPO pipeline 52 5,802

Recent SPAC IPO Performance

Symbol Name Price Unit Return
CCIXU Churchill IX 10.10 1.0%
IBACU IB 10.05 0.5%
BKHAU Black Hawk 10.31 3.1%
DYCQU DT Cloud 10.53 5.3%
HLXB Helix II 10.23 2.3%
LEGT/U Legato III 10.20 2.0%
JVSAU JVSPAC / Hotel101 10.91 9.1%
IROHU Iron Horse 10.25 2.5%
BAYAU Bayview 10.25 2.5%
AFJKU Aimei Health 10.40 4.0%
CLBR/U Colombier II 10.50 5.0%
GLACU Global Lights 10.48 4.8%
ANSCU Agriculture & Natural Solutions 10.35 3.5%
AITRU AI Transportation 10.46 4.6%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 93.45 1108%
PRIM Primoris 47.35 1021%
TGLS Tecnoglass 54.72 914%
LMB Limbach Holdings 45.14 565%
DJT Trump Media 47.70 558%
IRDM Iridium 30.34 432%
CERE Cerevel Therapeutics 42.59 430%
DKNG DraftKings 42.23 425%
WSC Williams Scotsman 37.27 402%
BLBD Blue Bird 35.28 372%
SMPL Simply Good Foods 37.30 359%
MLTX MoonLake Immunotherapeutics 45.19 352%
TWNK Hostess Brands 33.32 342%
SYM Symbotic 41.15 312%
IMVT Immunovant 29.15 280%
VRRM Verra Mobility 25.93 207%
MGY Magnolia Oil & Gas 25.15 197%
NAMS NewAmesterdam Pharma 22.07 156%
IMXI Intermex Wire Transfer 20.16 145%
BWMX Betterware 17.11 127%
UTZ Utz Brands 19.12 117%
OWL Blue Owl Capital 17.82 99%
ROIC Retail Opportunity Investments (ROI) 12.30 71%