SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 144 230 63% 30,379 76,180 40%
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 1,568 372,297
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 161 35,420
Announced acquisition 99 16,443
Completed acquisition 793 184,957
Liquidated 515 135,476
Total 1,568 372,297
SPAC IPO pipeline 85 12,902

Recent SPAC IPO Performance

Symbol Name Price Unit Return
SVAQU Silicon Valley 9.94 -0.6%
SCPQU Social Commerce 10.05 0.5%
ADACU American Drive 9.96 -0.4%
VHCPU Vine Hill II 10.03 0.2%
CCXIU Churchill XI 10.25 2.5%
IRHOU Iron Horse II 9.95 -0.5%
BEBE/U TGE Value 9.94 -0.6%
CRANU Crane Harbor II 10.05 0.6%
LPCVU Launchpad Cadenza 9.96 -0.4%
ITHAU ITHAX III 9.94 -0.6%
TWLVU Twelve Seas III 9.97 -0.3%
BLRKU Bluerock 9.98 -0.2%
KBONU Karbon Capital 10.07 0.7%
MESHU Meshflow 10.01 0.1%
DSACU Daedalus 10.04 0.4%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 127.79 3032%
VRT Vertiv 165.87 2073%
LMB Limbach Holdings 78.84 1104%
ASTS AST SpaceMobile 72.85 935%
TGLS Tecnoglass 51.56 851%
RKLB Rocket Lab 70.46 801%
OKLO Oklo 74.20 642%
BLBD Blue Bird 49.90 591%
MP MP Materials 51.91 554%
SYM Symbotic 59.47 495%
CERE Cerevel Therapeutics 44.98 461%
IONQ IonQ 44.90 432%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 34.86 326%
DKNG DraftKings 34.48 321%
IMVT Immunovant 25.62 227%
SOFI SoFi 26.93 208%
QBTS D-Wave 25.47 201%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
ROIV Roivant Sciences 21.80 170%
IRDM Iridium 17.17 168%
MIR Mirion Technologies 23.66 167%
VRRM Verra Mobility 22.65 164%
MGY Magnolia Oil & Gas 21.86 153%