SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 53 60 88% 11,460 14,363 80%
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 1,621 383,772
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 204 45,201
Announced acquisition 100 15,964
Completed acquisition 798 186,142
Liquidated 519 136,465
Total 1,621 383,772
SPAC IPO pipeline 78 10,256

Recent SPAC IPO Performance

Symbol Name Price Unit Return
KCAC/U Kensington Capital VI 10.01 0.1%
ILLUU Illumination 9.92 -0.8%
TRGSU TRG Latin America 9.96 -0.4%
TRAD/U Apex Tech 10.00 0.0%
FVAV Fortress Value V 10.03 0.3%
MZYX/U MOZAYYX 9.98 -0.2%
CTAAU ClearThink 9.99 -0.1%
AACOU Abony 9.95 -0.5%
AACIU Armada III 9.95 -0.5%
ACAAU Averin 10.16 1.6%
PALOU Paloma 9.97 -0.3%
HACQU HCM IV 10.04 0.4%
PAACU Proem 10.02 0.2%
WLIIU Willow II 10.12 1.2%
CMIIU Columbus Circle II 9.99 -0.1%
DBCAU D. Boral 9.98 -0.2%

Top Performing SPACs

Symbol Name Price Unit Return
VRT Vertiv 265.81 3406%
PRIM Primoris 134.17 3192%
ASTS AST SpaceMobile 88.95 1177%
LMB Limbach Holdings 82.60 1164%
RKLB Rocket Lab 70.00 795%
MP MP Materials 59.22 651%
TGLS Tecnoglass 41.10 642%
BLBD Blue Bird 53.20 640%
OKLO Oklo 59.62 496%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 48.34 383%
TWNK Hostess Brands 33.32 342%
IONQ IonQ 35.10 310%
IRDM Iridium 24.07 306%
ROIV Roivant Sciences 29.25 281%
NAMS NewAmesterdam Pharma 30.16 264%
MGY Magnolia Oil & Gas 29.21 251%
IMVT Immunovant 25.38 223%
OCS Oculis 27.09 223%
DKNG DraftKings 25.12 197%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
MIR Mirion Technologies 21.09 135%
WSC Williams Scotsman 19.20 131%
BWMX Betterware 16.65 118%
QBTS D-Wave 18.17 104%