SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 15 56 27% 2,181 19,672 11%
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 1,382 334,475
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 85 16,081
Announced acquisition 121 23,262
Completed acquisition 717 172,223
Liquidated 458 122,736
Total 1,381 334,302
SPAC IPO pipeline 36 4,387

Recent SPAC IPO Performance

Symbol Name Price Unit Return
FSHPU Flag Ship 9.98 -0.2%
CUBWU Lionheart 10.01 0.1%
MACIU Melar 10.00 0.0%
PCSC Perceptive Capital 10.08 0.8%
ALFUU Centurion 10.01 0.1%
CHEB/U Chenghe II 10.01 0.1%
RFAIU RF II 10.04 0.4%
GPATU GP-Act III 10.05 0.5%
CCIXU Churchill IX 10.07 0.7%
IBACU IB 10.05 0.5%
BKHAU Black Hawk 10.32 3.2%
DYCQU DT Cloud 10.50 5.0%
HLXB Helix II 10.32 3.2%
LEGT/U Legato III 10.18 1.8%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 55.20 1218%
VRT Vertiv 95.31 1132%
LMB Limbach Holdings 59.94 802%
BLBD Blue Bird 57.29 702%
TGLS Tecnoglass 44.06 701%
DKNG DraftKings 43.15 437%
CERE Cerevel Therapeutics 41.85 420%
WSC Williams Scotsman 38.12 414%
SMPL Simply Good Foods 36.50 348%
IRDM Iridium 25.91 343%
TWNK Hostess Brands 33.32 342%
MLTX MoonLake Immunotherapeutics 39.02 290%
DJT Trump Media 27.10 249%
SYM Symbotic 34.48 245%
IMVT Immunovant 26.70 243%
VRRM Verra Mobility 26.62 217%
MGY Magnolia Oil & Gas 24.67 191%
IMXI Intermex Wire Transfer 20.51 150%
PSFE Paysafe 17.80 99%
OWL Blue Owl Capital 17.72 98%
BWMX Betterware 15.60 97%
UTZ Utz Brands 17.45 94%
NAMS NewAmesterdam Pharma 17.11 90%