SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 90 144 63% 18,475 42,489 43%
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 1,514 360,393
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 133 28,279
Announced acquisition 89 14,645
Completed acquisition 783 183,292
Liquidated 509 134,178
Total 1,514 360,393
SPAC IPO pipeline 61 9,444

Recent SPAC IPO Performance

Symbol Name Price Unit Return
CHECU Chenghe III 9.99 -0.1%
OTGAU OTG 10.03 0.3%
BLZRU Trailblazer 10.04 0.4%
TLNCU Talon 10.00 0.0%
GSRFU GSR IV 10.07 0.7%
SVACU Spring Valley III 10.03 0.3%
KOYNU CSLM Digital III 10.04 0.4%
MBVIU M3-Brigade VI 10.03 0.3%
CEPF Cantor Equity Partners IV 10.16 1.6%
HVMCU Highview 10.06 0.6%
MKLYU McKinley 9.98 -0.2%
SSEAU STARRY SEA 10.07 0.7%
QUMSU Quantumsphere 10.05 0.6%
HCMAU HCM III 10.13 1.3%
BCARU D. Boral ARC 10.00 0.0%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 119.71 2830%
VRT Vertiv 135.83 1673%
LMB Limbach Holdings 99.61 1436%
TGLS Tecnoglass 69.40 1208%
OKLO Oklo 94.65 847%
MP MP Materials 66.14 744%
BLBD Blue Bird 58.10 714%
IONQ IonQ 60.75 631%
RKLB Rocket Lab 47.67 497%
CERE Cerevel Therapeutics 44.98 461%
ASTS AST SpaceMobile 40.68 453%
MLTX MoonLake Immunotherapeutics 52.88 429%
DKNG DraftKings 42.48 428%
SYM Symbotic 51.37 414%
SMR NuScale Power 37.36 403%
TWNK Hostess Brands 33.32 342%
SMPL Simply Good Foods 26.91 221%
SOFI SoFi 27.36 213%
WSC Williams Scotsman 23.12 189%
IRDM Iridium 18.15 188%
NAMS NewAmesterdam Pharma 24.44 188%
MGY Magnolia Oil & Gas 24.43 187%
VRRM Verra Mobility 23.93 181%
SOC Sable Offshore 22.50 180%