SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 118 182 65% 24,050 54,994 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 1,542 365,969
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 148 31,385
Announced acquisition 95 15,509
Completed acquisition 787 184,136
Liquidated 511 134,638
Total 1,541 365,669
SPAC IPO pipeline 72 11,785

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BPACU Blueport 10.05 0.5%
EVOXU Evolution Global 10.14 1.4%
CRACU Crown Reserve 10.09 0.9%
TDWDU Tailwind 2.0 10.04 0.4%
CEPV Cantor Equity Partners V 10.28 2.8%
WSTNU Westin 10.03 0.3%
DNMXU Dynamix III 10.15 1.5%
DYORU Insight Digital Partners II 10.13 1.4%
VACI/U Viking 10.07 0.7%
APXTU Apex Treasury 10.11 1.1%
LAFAU LaFayette 10.03 0.3%
MMTXU Miluna 10.02 0.2%
ALISU Calisa 10.01 0.1%
HAVAU Harvard 10.02 0.2%
LKSPU Lake Superior 10.14 1.4%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 122.20 2892%
VRT Vertiv 172.50 2162%
LMB Limbach Holdings 79.00 1107%
OKLO Oklo 109.65 997%
ASTS AST SpaceMobile 64.30 807%
TGLS Tecnoglass 46.95 759%
MP MP Materials 59.14 650%
BLBD Blue Bird 52.00 623%
RKLB Rocket Lab 49.96 528%
SYM Symbotic 62.76 528%
IONQ IonQ 50.99 509%
CERE Cerevel Therapeutics 44.98 461%
NAMS NewAmesterdam Pharma 38.05 369%
TWNK Hostess Brands 33.32 342%
DKNG DraftKings 31.24 278%
SOFI SoFi 32.10 272%
SMR NuScale Power 25.78 229%
RGTI Rigetti 28.02 222%
MIR Mirion Technologies 27.35 213%
QBTS D-Wave 26.32 213%
IMVT Immunovant 22.90 186%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
MGY Magnolia Oil & Gas 23.17 171%
VRRM Verra Mobility 23.07 169%