SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 58 65 89% 12,305 15,208 81%
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 1,626 384,617
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 206 45,476
Announced acquisition 97 15,431
Completed acquisition 804 187,244
Liquidated 519 136,465
Total 1,626 384,617
SPAC IPO pipeline 80 10,386

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BWIV/U Blue Water IV 10.20 2.0%
BHAVU BHAV 9.96 -0.4%
MTAL/U Metals II 10.14 1.4%
PONOU PONO Capital 4 9.98 -0.2%
SUMAU SUMA 9.98 -0.2%
GLED/U GalaxyEdge / LOI Rongcheng Group 10.01 0.1%
KCAC/U Kensington Capital VI 10.00 0.0%
ILLUU Illumination 9.92 -0.8%
TRAD/U Apex Tech 10.00 0.0%
FVAV Fortress Value V 10.05 0.5%
TRGSU TRG Latin America 10.00 0.0%
MZYX/U MOZAYYX 9.94 -0.6%
CTAAU ClearThink 9.99 -0.1%
AACOU Abony 9.94 -0.6%
AACIU Armada III 9.98 -0.2%
ACAAU Averin 10.05 0.5%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 146.90 3510%
VRT Vertiv 266.65 3417%
ASTS AST SpaceMobile 88.10 1164%
LMB Limbach Holdings 79.14 1109%
RKLB Rocket Lab 65.56 736%
BLBD Blue Bird 56.94 697%
TGLS Tecnoglass 40.91 638%
MP MP Materials 52.56 562%
CERE Cerevel Therapeutics 44.98 461%
OKLO Oklo 54.71 447%
SYM Symbotic 53.17 432%
IRDM Iridium 26.86 362%
TWNK Hostess Brands 33.32 342%
IONQ IonQ 33.07 285%
MGY Magnolia Oil & Gas 31.38 280%
NAMS NewAmesterdam Pharma 30.38 267%
ROIV Roivant Sciences 26.61 242%
IMVT Immunovant 23.90 201%
OCS Oculis 24.31 186%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
DKNG DraftKings 23.37 173%
BWMX Betterware 16.93 123%
WSC Williams Scotsman 18.33 117%
MIR Mirion Technologies 19.29 112%
SOC Sable Offshore 16.83 95%