SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 4 13 31% 445 4,635 10%
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 28 252 11% 2,113 61,893 3%
2004 12 268 4% 485 72,865 1%
2003 1 127 1% 24 49,954 0%
Total 1,370 332,691
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 92 19,477
Announced acquisition 141 27,541
Completed acquisition 691 165,648
Liquidated 442 119,011
Total 1,366 331,676
SPAC IPO pipeline 49 5,252

Recent SPAC IPO Performance

Symbol Name Price Unit Return
DYCQU DT Cloud 10.16 1.6%
HLXB Helix II 10.40 4.0%
LEGT/U Legato III 10.10 1.0%
JVSAU JVSPAC 10.22 2.2%
IROHU Iron Horse 10.20 2.0%
BAYAU Bayview 10.60 6.0%
AFJKU Aimei Health 10.37 3.7%
CLBR/U Colombier II 10.50 5.0%
GLACU Global Lights 10.30 3.0%
ANSCU Agriculture & Natural Solutions 10.24 2.4%
AITRU AI Transportation 10.39 3.9%
QETAU Quetta 10.29 2.9%
SPKLU Spark I 10.90 9.0%
NNAGU 99 / Nava Health 10.50 5.0%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 72.14 824%
PRIM Primoris 39.36 822%
TGLS Tecnoglass 42.68 674%
WSC Williams Scotsman 47.75 559%
DWAC Digital World / Trump Media 47.20 551%
DKNG DraftKings 44.82 459%
CERE Cerevel Therapeutics 40.85 406%
IRDM Iridium 28.93 404%
MLTX MoonLake Immunotherapeutics 48.82 388%
IMVT Immunovant 35.20 371%
TWNK Hostess Brands 33.32 342%
BLBD Blue Bird 33.24 341%
SMPL Simply Good Foods 34.56 322%
SYM Symbotic 41.30 313%
BWMX Betterware 19.12 167%
NAMS NewAmesterdam Pharma 22.80 166%
MGY Magnolia Oil & Gas 22.68 164%
VRRM Verra Mobility 22.16 157%
IMXI Intermex Wire Transfer 19.77 139%
OWL Blue Owl Capital 18.10 103%
UTZ Utz Brands 17.98 101%
ROIC Retail Opportunity Investments (ROI) 13.09 87%
HPK HighPeak Energy 15.84 80%