SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 50 57 88% 10,749 13,652 79%
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 1,618 383,061
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 204 45,068
Announced acquisition 99 15,805
Completed acquisition 796 185,723
Liquidated 519 136,465
Total 1,618 383,061
SPAC IPO pipeline 75 9,495

Recent SPAC IPO Performance

Symbol Name Price Unit Return
TRGSU TRG Latin America 9.97 -0.3%
TRAD/U Apex Tech 10.01 0.1%
FVAV Fortress Value V 10.02 0.2%
MZYX/U MOZAYYX 9.96 -0.4%
CTAAU ClearThink 9.97 -0.3%
AACOU Abony 9.97 -0.3%
ACAAU Averin 10.01 0.1%
PALOU Paloma 9.99 -0.1%
AACIU Armada III 9.96 -0.4%
PAACU Proem 10.00 0.0%
WLIIU Willow II 10.06 0.6%
CMIIU Columbus Circle II 9.97 -0.3%
DBCAU D. Boral 9.96 -0.4%
RFAMU RF III 9.98 -0.2%
HACQU HCM IV 10.03 0.3%
SVIVU Spring Valley IV 10.08 0.8%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 151.82 3633%
VRT Vertiv 256.94 3288%
LMB Limbach Holdings 98.06 1412%
ASTS AST SpaceMobile 85.72 1128%
RKLB Rocket Lab 71.75 818%
TGLS Tecnoglass 46.20 744%
BLBD Blue Bird 59.09 729%
MP MP Materials 60.20 664%
OKLO Oklo 68.96 590%
SYM Symbotic 57.33 473%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 41.02 384%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.24 318%
IRDM Iridium 22.46 274%
ROIV Roivant Sciences 28.40 269%
OCS Oculis 29.86 260%
IMVT Immunovant 27.46 254%
MGY Magnolia Oil & Gas 27.34 226%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
WSC Williams Scotsman 21.98 172%
DKNG DraftKings 23.25 172%
BWMX Betterware 18.15 148%
MIR Mirion Technologies 21.93 145%
QBTS D-Wave 20.20 131%