SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 142 217 65% 28,097 189,685 15%
2025 144 230 63% 30,394 77,365 39%
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 1,710 400,408
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 252 54,582
Announced acquisition 104 16,131
Completed acquisition 825 191,161
Liquidated 527 137,969
Total 1,708 399,843
SPAC IPO pipeline 80 10,097

Recent SPAC IPO Performance

Symbol Name Price Unit Return
TBCVU Thunder Bridge V 9.92 -0.8%
OCLTU OceanLight 10.00 0.0%
PNAQ/U Pinnacle 9.96 -0.4%
THEOU BOA II 10.12 1.2%
TCGX TCGX 16.10 61.0%
FJDIU ARC Group Securities 9.95 -0.5%
XIIIU Churchill XIII 10.58 5.8%
EWAVU East West 9.97 -0.3%
CATLU Catalyst 10.00 0.0%
MTAKU Market Technology 9.98 -0.2%
PLCIU Pelican II 10.01 0.1%
NCOOU Southern Cross 10.10 1.0%
BRTMU B&R Technology 9.97 -0.3%
AMACU AMR Resources 9.95 -0.5%
JONEU Jones Ventures 9.91 -0.9%
RACD Research Alliance IV 11.76 17.6%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 288.20 3704%
PRIM Primoris 80.87 1859%
RKLB Rocket Lab 80.70 938%
ASTS AST SpaceMobile 71.57 916%
BLBD Blue Bird 65.30 822%
IRDM Iridium 49.77 820%
TGLS Tecnoglass 42.12 662%
MP MP Materials 55.82 606%
LMB Limbach Holdings 44.70 558%
OUST Ouster 45.40 524%
IMVT Immunovant 41.86 470%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 44.98 433%
NESR National Energy Services Reunited 36.33 387%
ROIV Roivant Sciences 36.28 387%
OKLO Oklo 46.82 368%
TWNK Hostess Brands 33.32 342%
SYM Symbotic 42.30 323%
NAMS NewAmesterdam Pharma 27.20 224%
RSI Rush Street Interactive 24.61 212%
MGY Magnolia Oil & Gas 25.86 206%
DKNG DraftKings 25.30 199%
WSC Williams Scotsman 22.99 187%
BRUN Boost Run 22.76 184%
ROIC Retail Opportunity Investments (ROI) 17.49 175%