SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 159 234 68% 30,746 192,334 16%
2025 144 230 63% 30,394 77,365 39%
2024 57 133 43% 9,646 42,267 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 1,727 403,080
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 235 51,008
Announced acquisition 120 18,854
Completed acquisition 839 193,740
Liquidated 532 139,279
Total 1,726 402,880
SPAC IPO pipeline 95 12,157

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BHAIU BHAV II 10.00 0.0%
SCQCU SPACCircle 10.00 0.0%
TCXB TCGX II 10.13 1.3%
FLSC Frazier Life II 10.15 1.5%
PAXGU Pine Tree 9.99 -0.1%
PORT/U Southport II 9.93 -0.7%
IVAI Ives Ultra AI 10.08 0.8%
BRRKU Bluerock II 9.95 -0.5%
LOVIU Live Oak VI 9.99 -0.1%
LEDRU Leader’s Advantage 9.96 -0.4%
HYAC/U Haymaker V 10.04 0.4%
TLACU Three Lions 9.95 -0.5%
IPHXU Inflection Point VIII 10.05 0.5%
JTTT JATT III 10.28 2.8%
SCATU Southern Cross II 10.05 0.5%
RNAQU Rainier 10.01 0.1%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 184.05 2316%
PRIM Primoris 67.45 1524%
BLBD Blue Bird 58.09 714%
IRDM Iridium 44.19 709%
TGLS Tecnoglass 43.94 699%
LMB Limbach Holdings 53.00 691%
RKLB Rocket Lab 53.15 570%
CERE Cerevel Therapeutics 44.98 461%
ROIV Roivant Sciences 38.13 414%
OUST Ouster 34.75 364%
TWNK Hostess Brands 33.32 342%
MP MP Materials 35.49 335%
ASTS AST SpaceMobile 32.50 330%
IMVT Immunovant 30.61 302%
IONQ IonQ 32.31 275%
SYM Symbotic 36.75 268%
MGY Magnolia Oil & Gas 23.66 177%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
NESR National Energy Services Reunited 19.96 142%
PRCH Porch 19.79 139%
OKLO Oklo 23.54 135%
WSC Williams Scotsman 18.86 125%
BWMX Betterware 16.57 116%
NAMS NewAmesterdam Pharma 18.90 114%
HGTY Hagerty 17.97 112%