SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 136 200 68% 28,550 59,494 48%
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 1,560 370,468
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 154 33,695
Announced acquisition 99 16,512
Completed acquisition 793 184,957
Liquidated 514 135,303
Total 1,560 370,468
SPAC IPO pipeline 79 12,146

Recent SPAC IPO Performance

Symbol Name Price Unit Return
CRANU Crane Harbor II 10.05 0.5%
ITHAU ITHAX III 9.96 -0.4%
TWLVU Twelve Seas III 9.97 -0.3%
BLRKU Bluerock 9.98 -0.2%
KBONU Karbon Capital 10.08 0.8%
MESHU Meshflow 10.01 0.1%
DSACU Daedalus 10.04 0.4%
LFACU Leapfrong 10.03 0.2%
AEAQU Activate Energy 10.00 0.0%
NWAX/U New America 10.34 3.4%
SAC/U Safeguard 10.10 1.0%
GPACU General Purpose 9.99 -0.1%
SBXE/U SilverBox V 10.10 1.0%
BIXIU Bitcoin Infrastructure 10.01 0.1%
SCIIU SC II 10.07 0.7%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 129.19 3067%
VRT Vertiv 159.16 1984%
LMB Limbach Holdings 83.01 1171%
TGLS Tecnoglass 52.45 869%
ASTS AST SpaceMobile 68.38 868%
OKLO Oklo 83.53 735%
BLBD Blue Bird 51.63 617%
RKLB Rocket Lab 55.41 600%
MP MP Materials 53.83 579%
SYM Symbotic 62.65 527%
IONQ IonQ 49.36 488%
CERE Cerevel Therapeutics 44.98 461%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.62 323%
DKNG DraftKings 34.40 320%
IMVT Immunovant 26.80 244%
SOFI SoFi 26.50 202%
QBTS D-Wave 25.51 202%
ROIV Roivant Sciences 23.10 189%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
MIR Mirion Technologies 24.17 173%
RGTI Rigetti 23.84 169%
IRDM Iridium 16.89 163%
VRRM Verra Mobility 21.92 154%