SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 54 73 74% 11,042 19,932 55%
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 1,478 352,960
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 116 23,992
Announced acquisition 92 15,113
Completed acquisition 768 181,065
Liquidated 502 132,791
Total 1,478 352,960
SPAC IPO pipeline 38 5,438

Recent SPAC IPO Performance

Symbol Name Price Unit Return
BLUWW Blue Water III 0.90 -91.0%
JENA/U Jena II 10.24 2.4%
CHPGU ChampionsGate 10.07 0.7%
KCHVU Kochav Defense 10.08 0.8%
WTGUU Wintergreen 10.04 0.4%
CRAQU Cal Redwood 10.06 0.6%
PELIU Pelican 10.10 1.0%
OYSEU Oyster II 10.07 0.7%
AACIU Armada II 10.08 0.8%
PCAPU ProCap 11.30 13.0%
CCCMU Columbus Circle 10.50 5.0%
WENNU Wen 10.64 6.4%
RTACU Renatus Tactical 12.47 24.7%
TVAIU Thayer Ventures II 10.13 1.3%
CCCXU Churchill X 10.30 3.0%

Top Performing SPACs

Symbol Name Price Unit Return
LMB Limbach Holdings 139.07 2068%
PRIM Primoris 74.72 1706%
TGLS Tecnoglass 85.95 1539%
VRT Vertiv 109.42 1321%
OKLO Oklo 64.19 542%
CERE Cerevel Therapeutics 44.98 461%
BLBD Blue Bird 41.20 461%
SMR NuScale Power 40.15 445%
IRDM Iridium 28.60 397%
ASTS AST SpaceMobile 35.98 382%
IONQ IonQ 39.33 363%
DKNG DraftKings 37.40 360%
TWNK Hostess Brands 33.32 342%
MLTX MoonLake Immunotherapeutics 44.17 342%
SMPL Simply Good Foods 33.10 303%
CEP Cantor Equity Partners / Twenty One 36.75 268%
WSC Williams Scotsman 28.06 263%
RKLB Rocket Lab 26.92 221%
MP MP Materials 25.45 201%
MGY Magnolia Oil & Gas 24.85 193%
GRND Grindr 23.20 191%
VRRM Verra Mobility 24.37 187%
SYM Symbotic 28.62 186%
SOC Sable Offshore 22.86 185%