SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 117 181 65% 24,000 54,944 44%
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 1,541 365,919
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 148 31,537
Announced acquisition 95 15,377
Completed acquisition 786 184,067
Liquidated 511 134,638
Total 1,540 365,619
SPAC IPO pipeline 71 11,479

Recent SPAC IPO Performance

Symbol Name Price Unit Return
CRACU Crown Reserve 10.09 0.9%
TDWDU Tailwind 2.0 10.04 0.4%
CEPV Cantor Equity Partners V 10.35 3.5%
WSTNU Westin 10.04 0.4%
DNMXU Dynamix III 10.18 1.8%
DYORU Insight Digital Partners II 10.14 1.4%
VACI/U Viking 10.07 0.7%
APXTU Apex Treasury 10.11 1.1%
LAFAU LaFayette 10.05 0.5%
MMTXU Miluna 10.04 0.4%
ALISU Calisa 10.03 0.3%
HAVAU Harvard 10.01 0.1%
LKSPU Lake Superior 10.13 1.3%
GIWWU GigCapital8 10.30 3.0%
AIIA/U AI Infrastructure 0.00 -1

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 129.02 3063%
VRT Vertiv 188.94 2381%
LMB Limbach Holdings 78.67 1101%
OKLO Oklo 110.93 1009%
ASTS AST SpaceMobile 67.26 851%
TGLS Tecnoglass 46.89 758%
MP MP Materials 64.45 721%
SYM Symbotic 70.91 609%
BLBD Blue Bird 50.84 605%
RKLB Rocket Lab 55.67 604%
IONQ IonQ 56.10 572%
CERE Cerevel Therapeutics 44.98 461%
NAMS NewAmesterdam Pharma 38.97 381%
TWNK Hostess Brands 33.32 342%
RGTI Rigetti 32.43 277%
SMR NuScale Power 28.70 273%
DKNG DraftKings 30.58 269%
QBTS D-Wave 30.16 264%
SOFI SoFi 30.60 254%
MIR Mirion Technologies 27.06 209%
IMVT Immunovant 23.38 193%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
VRRM Verra Mobility 23.06 169%
ROIV Roivant Sciences 21.51 165%