SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 156 231 68% 30,233 191,821 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 1,724 402,568
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 243 52,523
Announced acquisition 111 17,572
Completed acquisition 837 192,993
Liquidated 531 139,164
Total 1,722 402,253
SPAC IPO pipeline 94 12,022

Recent SPAC IPO Performance

Symbol Name Price Unit Return
IVAI Ives Ultra AI 10.08 0.8%
PORT/U Southport II 9.95 -1.5%
BRRKU Bluerock II 9.98 -0.2%
LOVIU Live Oak VI 9.99 -0.1%
LEDRU Leader’s Advantage 9.97 -0.3%
HYAC/U Haymaker V 10.01 0.1%
TLACU Three Lions 9.98 -0.2%
IPHXU Inflection Point VIII 9.83 -1.7%
JTTT JATT III 10.52 5.2%
SCATU Southern Cross II 10.01 0.1%
RNAQU Rainier 10.08 0.8%
NSAIU NorthStrive 10.03 0.3%
XTERU Karman Line 9.90 -1.0%
TBCVU Thunder Bridge V 9.91 -0.9%
OCLTU OceanLight / AIRE 10.07 0.7%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 222.40 2827%
PRIM Primoris 76.47 1749%
IRDM Iridium 45.30 731%
BLBD Blue Bird 56.20 686%
LMB Limbach Holdings 47.88 609%
RKLB Rocket Lab 54.37 587%
TGLS Tecnoglass 36.77 555%
ASTS AST SpaceMobile 41.78 469%
CERE Cerevel Therapeutics 44.98 461%
MP MP Materials 40.00 395%
ROIV Roivant Sciences 34.00 353%
TWNK Hostess Brands 33.32 342%
OUST Ouster 31.95 322%
SYM Symbotic 37.91 279%
IONQ IonQ 31.66 267%
IMVT Immunovant 27.97 262%
MGY Magnolia Oil & Gas 25.00 195%
OKLO Oklo 29.11 191%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
NESR National Energy Services Reunited 20.40 148%
NAMS NewAmesterdam Pharma 20.24 132%
RSI Rush Street Interactive 18.76 124%
BWMX Betterware 16.46 114%
DKNG DraftKings 18.90 114%
TH Target Hospitality 17.38 93%