SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 5 8 63% 635 3,005 21%
2024 57 133 43% 9,569 42,190 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 1,429 342,498
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 86 17,174
Announced acquisition 97 15,923
Completed acquisition 747 177,078
Liquidated 497 132,075
Total 1,427 342,251
SPAC IPO pipeline 26 3,795

Recent SPAC IPO Performance

Symbol Name Price Unit Return
COLAU Columbus 10.02 0.2%
HVIIU Hennessy VII 10.03 0.2%
RIBBU Ribbon 10.05 0.5%
PLMKU Plum IV 10.04 0.4%
CEPO Cantor Equity Partners I 10.05 0.5%
TDACU Translational Development 10.04 0.4%
RANGU Range 10.11 1.1%
DRDBU Roman DBDR II 9.99 -0.1%
MLACU Mountain Lake 10.05 0.5%
JACS/U Jackson II 10.09 0.9%
SPHAU Shepherd Ave 10.10 1.0%
TAVIU Tavia 10.11 1.1%
FACTU FACT II 10.00 0.0%
NOEMU CO2 Energy 10.50 5.0%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 86.43 1998%
VRT Vertiv 146.13 1810%
TGLS Tecnoglass 84.47 1509%
LMB Limbach Holdings 101.90 1473%
CERE Cerevel Therapeutics 44.98 461%
IRDM Iridium 31.25 450%
WSC Williams Scotsman 38.86 425%
DKNG DraftKings 41.21 411%
BLBD Blue Bird 37.59 406%
IONQ IonQ 41.10 385%
MLTX MoonLake Immunotherapeutics 46.60 366%
SMPL Simply Good Foods 37.50 362%
TWNK Hostess Brands 33.32 342%
DJT Trump Media 32.86 335%
RKLB Rocket Lab 30.61 270%
SOC Sable Offshore 27.91 261%
SMR NuScale Power 27.90 261%
VRRM Verra Mobility 26.71 218%
OWL Blue Owl Capital 26.68 217%
SYM Symbotic 31.60 216%
PWP Perella Weinberg 26.07 209%
MGY Magnolia Oil & Gas 25.36 200%
IMVT Immunovant 23.10 189%
GDYN Grid Dynamics 22.47 180%