SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 56 63 89% 12,065 14,968 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 1,624 384,377
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 204 45,269
Announced acquisition 99 15,705
Completed acquisition 802 186,938
Liquidated 519 136,465
Total 1,624 384,377
SPAC IPO pipeline 80 10,361

Recent SPAC IPO Performance

Symbol Name Price Unit Return
MTAL/U Metals II 10.09 0.9%
PONOU PONO Capital 4 9.98 -0.2%
SUMAU SUMA 10.10 1.0%
KCAC/U Kensington Capital VI 10.05 0.5%
ILLUU Illumination 9.95 -0.5%
TRAD/U Apex Tech 10.00 0.0%
FVAV Fortress Value V 10.05 0.5%
TRGSU TRG Latin America 9.96 -0.4%
MZYX/U MOZAYYX 9.95 -0.5%
CTAAU ClearThink 9.99 -0.1%
AACOU Abony 9.94 -0.6%
AACIU Armada III 9.97 -0.3%
ACAAU Averin 10.10 1.0%
PALOU Paloma 9.97 -0.3%
HACQU HCM IV 10.04 0.4%
PAACU Proem 10.02 0.2%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 270.85 3473%
PRIM Primoris 139.04 3313%
ASTS AST SpaceMobile 95.43 1274%
LMB Limbach Holdings 77.19 1078%
RKLB Rocket Lab 72.31 826%
TGLS Tecnoglass 44.56 711%
BLBD Blue Bird 55.06 668%
MP MP Materials 58.70 644%
OKLO Oklo 59.52 495%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 51.29 413%
IRDM Iridium 26.17 348%
TWNK Hostess Brands 33.32 342%
IONQ IonQ 33.45 289%
MGY Magnolia Oil & Gas 30.29 265%
ROIV Roivant Sciences 28.11 264%
NAMS NewAmesterdam Pharma 29.53 255%
OCS Oculis 26.73 218%
DKNG DraftKings 25.61 203%
IMVT Immunovant 23.88 201%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
BWMX Betterware 17.18 129%
MIR Mirion Technologies 19.69 117%
WSC Williams Scotsman 17.79 109%
SOC Sable Offshore 17.20 100%