SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 84 138 61% 17,166 41,180 42%
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 1,508 359,084
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 131 27,807
Announced acquisition 88 14,036
Completed acquisition 780 183,063
Liquidated 509 134,178
Total 1,508 359,084
SPAC IPO pipeline 56 8,409

Recent SPAC IPO Performance

Symbol Name Price Unit Return
KOYNU CSLM Digital III 10.05 0.5%
MBVIU M3-Brigade VI 10.02 0.2%
CEPF Cantor Equity Partners IV 10.10 1.0%
HVMCU Highview 10.05 0.5%
MKLYU McKinley 9.98 -0.2%
SSEAU STARRY SEA 10.04 0.4%
QUMSU Quantumsphere 10.03 0.3%
HCMAU HCM III 10.13 1.3%
BCARU D. Boral ARC 9.98 -0.2%
APADU A Paradise 10.04 0.4%
PAII/U Pyrophyte II 10.05 0.5%
SOCAU Solarius Capital 10.08 0.8%
SPEGU Silver Pegasus 10.11 1.1%
GTERU Globa Terra 10.15 1.5%
ONCHU 1RT 10.47 4.7%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 116.00 2738%
LMB Limbach Holdings 110.00 1603%
VRT Vertiv 124.98 1528%
TGLS Tecnoglass 70.47 1229%
MP MP Materials 67.72 765%
BLBD Blue Bird 56.91 696%
OKLO Oklo 74.59 646%
ASTS AST SpaceMobile 49.15 580%
RKLB Rocket Lab 50.22 531%
DKNG DraftKings 47.95 501%
MLTX MoonLake Immunotherapeutics 58.51 485%
CERE Cerevel Therapeutics 44.98 461%
SMR NuScale Power 39.25 431%
IONQ IonQ 42.80 406%
SYM Symbotic 46.50 365%
TWNK Hostess Brands 33.32 342%
IRDM Iridium 24.85 322%
SMPL Simply Good Foods 28.70 244%
WSC Williams Scotsman 25.55 226%
MGY Magnolia Oil & Gas 24.91 194%
VRRM Verra Mobility 24.80 192%
SOC Sable Offshore 23.31 192%
NAMS NewAmesterdam Pharma 24.63 190%
SOFI SoFi 25.13 185%