SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 83 121 69% 16,852 37,502 45%
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 1,651 389,164
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 220 47,857
Announced acquisition 97 15,834
Completed acquisition 812 188,549
Liquidated 521 136,809
Total 1,650 389,049
SPAC IPO pipeline 77 10,001

Recent SPAC IPO Performance

Symbol Name Price Unit Return
OTAI/U Starlink AI 10.01 0.1%
SAGU/U Shreya 9.99 -0.1%
MTNE/U CH4 Natural Solutions 10.03 0.3%
GCGRU General Catalyst 10.15 1.5%
QLEP/U Quantum Leap 10.00 0.0%
ARCLU ARC Group 10.03 0.2%
CXIIU Churchill XII 10.12 1.2%
FTHAU Forefront Tech 9.97 -0.3%
IACQU Irenic 10.01 0.1%
MCAHU Mountain Crest 6 10.03 0.3%
PLUN/U Plutonian II 10.02 0.2%
RREVU RRE Ventures 9.98 -0.2%
WENC/U West Enclave 10.00 0.0%
CAIIU Collective II 9.97 -0.3%
JATT JATT II 10.50 5.0%
NHIVU NewHold IV 10.03 0.3%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 375.50 4868%
PRIM Primoris 114.01 2688%
RKLB Rocket Lab 125.65 1537%
LMB Limbach Holdings 72.25 999%
ASTS AST SpaceMobile 74.85 965%
BLBD Blue Bird 69.94 892%
MP MP Materials 65.60 736%
IRDM Iridium 42.37 672%
OKLO Oklo 75.20 652%
IONQ IonQ 57.12 585%
TGLS Tecnoglass 38.07 581%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 52.00 420%
PL Planet Labs 42.23 384%
NAMS NewAmesterdam Pharma 38.89 380%
LUNR Intuitive Machines 34.44 359%
TWNK Hostess Brands 33.32 342%
ROIV Roivant Sciences 29.33 282%
IMVT Immunovant 29.10 279%
OCS Oculis 30.41 267%
WSC Williams Scotsman 27.25 251%
MGY Magnolia Oil & Gas 28.64 244%
DKNG DraftKings 24.79 192%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
QBTS D-Wave 22.77 165%