SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 10 13 77% 1,552 3,923 40%
2024 57 133 43% 9,619 42,240 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 1,434 343,466
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 88 17,857
Announced acquisition 96 15,627
Completed acquisition 750 177,573
Liquidated 500 132,409
Total 1,434 343,466
SPAC IPO pipeline 30 4,145

Recent SPAC IPO Performance

Symbol Name Price Unit Return
KFIIU K&F Growth II 10.02 0.2%
FGMCU FG Merger II 9.84 -1.6%
SVCCU Steller V 10.05 0.5%
DMAAU Drugs Made in America 10.07 0.7%
COLAU Columbus 10.08 0.8%
HVIIU Hennessy VII 10.04 0.4%
PLMKU Plum IV 10.05 0.5%
RIBBU Ribbon 10.11 1.1%
CEPO Cantor Equity Partners I 10.12 1.2%
TDACU Translational Development 10.06 0.6%
RANGU Range 10.14 1.4%
MLACU Mountain Lake 10.20 2.0%
DRDBU Roman DBDR II 10.07 0.7%
JACS/U Jackson II 10.19 1.9%
SPHAU Shepherd Ave 10.17 1.7%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 77.35 1771%
VRT Vertiv 124.99 1528%
TGLS Tecnoglass 77.10 1362%
LMB Limbach Holdings 93.50 1339%
CERE Cerevel Therapeutics 44.98 461%
DKNG DraftKings 43.60 443%
WSC Williams Scotsman 38.00 413%
BLBD Blue Bird 37.50 405%
IRDM Iridium 28.15 388%
SMPL Simply Good Foods 38.15 370%
IONQ IonQ 38.65 354%
TWNK Hostess Brands 33.32 342%
MLTX MoonLake Immunotherapeutics 43.23 332%
DJT Trump Media 30.35 298%
ASTS AST SpaceMobile 29.50 285%
RKLB Rocket Lab 28.75 245%
SMR NuScale Power 26.18 235%
SOC Sable Offshore 25.30 222%
VRRM Verra Mobility 26.16 210%
GDYN Grid Dynamics 23.87 201%
SYM Symbotic 29.14 191%
MP MP Materials 24.70 191%
CLBT Cellebrite 24.55 189%
MGY Magnolia Oil & Gas 23.82 179%