SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 152 227 67% 29,710 191,298 16%
2025 144 230 63% 30,394 77,365 39%
2024 57 133 43% 9,646 42,267 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 1,720 402,044
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 250 53,626
Announced acquisition 105 16,565
Completed acquisition 833 192,574
Liquidated 531 139,164
Total 1,719 401,929
SPAC IPO pipeline 87 11,057

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BRRKU Bluerock II 9.98 -0.2%
LOVIU Live Oak VI 9.31 -6.9%
LEDRU Leader’s Advantage 9.98 -0.2%
HYAC/U Haymaker V 10.05 0.5%
TLACU Three Lions 10.16 1.6%
IPHXU Inflection Point VIII 10.08 0.8%
JTTT JATT III 10.99 9.9%
SCATU Southern Cross II 10.04 0.4%
RNAQU Rainier 10.18 1.8%
XTERU Karman Line 9.90 -1.0%
NSAIU NorthStrive 10.02 0.2%
TBCVU Thunder Bridge V 9.92 -0.8%
OCLTU OceanLight 10.18 1.8%
PNAQ/U Pinnacle 10.03 0.2%
TCGX TCGX 14.10 41.0%
FJDIU ARC Group Securities 10.03 0.3%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 252.99 3235%
PRIM Primoris 72.25 1644%
RKLB Rocket Lab 73.90 847%
IRDM Iridium 47.92 783%
ASTS AST SpaceMobile 61.96 772%
BLBD Blue Bird 58.85 725%
LMB Limbach Holdings 51.48 666%
TGLS Tecnoglass 35.44 529%
MP MP Materials 48.80 512%
OUST Ouster 43.75 499%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 45.32 438%
ROIV Roivant Sciences 35.93 381%
TWNK Hostess Brands 33.32 342%
IMVT Immunovant 33.30 342%
SYM Symbotic 43.60 336%
NESR National Energy Services Reunited 32.10 324%
OKLO Oklo 38.10 281%
MGY Magnolia Oil & Gas 24.11 183%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
NAMS NewAmesterdam Pharma 22.28 159%
DKNG DraftKings 21.95 154%
RSI Rush Street Interactive 19.87 141%
TH Target Hospitality 20.88 140%
BWMX Betterware 16.74 120%