SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2024 9 44 20% 1,371 16,967 8%
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 1,376 333,665
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 82 15,728
Announced acquisition 125 24,155
Completed acquisition 712 171,149
Liquidated 456 122,403
Total 1,375 333,435
SPAC IPO pipeline 53 5,662

Recent SPAC IPO Performance

Symbol Name Price Unit Return
RFAIU RF II 10.06 0.6%
GPATU GP-Act III 10.07 0.7%
CCIXU Churchill IX 10.12 1.2%
IBACU IB 10.05 0.5%
BKHAU Black Hawk 10.25 2.5%
DYCQU DT Cloud 10.75 7.5%
HLXB Helix II 10.30 3.0%
LEGT/U Legato III 10.13 1.3%
JVSAU JVSPAC / Hotel101 10.90 9.0%
IROHU Iron Horse 10.40 4.0%
BAYAU Bayview 10.32 3.2%
AFJKU Aimei Health 10.35 3.5%
CLBR/U Colombier II 10.50 5.0%
GLACU Global Lights 10.35 3.5%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 105.04 1262%
PRIM Primoris 54.60 1202%
TGLS Tecnoglass 53.63 893%
LMB Limbach Holdings 58.16 773%
BLBD Blue Bird 54.99 667%
DJT Trump Media 50.34 598%
WSC Williams Scotsman 39.16 430%
IRDM Iridium 29.29 411%
CERE Cerevel Therapeutics 41.03 409%
SMPL Simply Good Foods 36.98 355%
DKNG DraftKings 36.55 349%
TWNK Hostess Brands 33.32 342%
MLTX MoonLake Immunotherapeutics 41.45 315%
SYM Symbotic 41.05 310%
IMVT Immunovant 28.14 265%
VRRM Verra Mobility 26.77 219%
MGY Magnolia Oil & Gas 25.56 202%
IMXI Intermex Wire Transfer 20.80 154%
BWMX Betterware 16.98 125%
OWL Blue Owl Capital 19.55 122%
NAMS NewAmesterdam Pharma 19.41 121%
PSFE Paysafe 18.40 107%
UTZ Utz Brands 17.83 99%