SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 33 87 38% 5,744 31,486 18%
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 1,400 338,038
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 79 15,471
Announced acquisition 119 20,951
Completed acquisition 732 174,463
Liquidated 468 126,733
Total 1,398 337,618
SPAC IPO pipeline 37 4,812

Recent SPAC IPO Performance

Symbol Name Price Unit Return
FVNNU Future Vision II 10.00 0.0%
POLEU Andretti II 9.98 -0.2%
VCICU Vine Hill 10.00 0.0%
GIGGU GigCapital7 9.95 -0.5%
BSIIU Black Spade II 9.97 -0.3%
HONDU HCM II 9.97 -0.3%
SBXD/U SilverBox IV 10.02 0.2%
CEP Cantor Equity Partners 10.00 0.0%
VACHU Voyager 9.99 -0.1%
EQV/U EQV Ventures 9.95 -0.5%
AAM/U AA Mission 10.00 0.0%
MBAVU M3-Brigade 10.03 0.3%
DTSQU DT Cloud Star 10.14 1.4%
LPAAU Launch One 9.99 -0.1%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 56.35 1246%
TGLS Tecnoglass 67.57 1171%
LMB Limbach Holdings 73.53 1019%
VRT Vertiv 86.50 1015%
BLBD Blue Bird 50.10 594%
CERE Cerevel Therapeutics 44.98 461%
WSC Williams Scotsman 40.19 445%
MLTX MoonLake Immunotherapeutics 50.99 410%
IRDM Iridium 28.45 394%
DKNG DraftKings 38.80 379%
TWNK Hostess Brands 33.32 342%
SMPL Simply Good Foods 33.81 312%
IMVT Immunovant 29.41 284%
ASTS AST SpaceMobile 27.90 261%
SOC Sable Offshore 26.20 236%
VRRM Verra Mobility 26.99 222%
MGY Magnolia Oil & Gas 24.83 193%
PSFE Paysafe 22.82 166%
SYM Symbotic 25.06 151%
ROIC Retail Opportunity Investments (ROI) 15.82 141%
IMXI Intermex Wire Transfer 19.23 131%
PWP Perella Weinberg 18.86 113%
UTZ Utz Brands 18.20 104%