SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 23 42 55% 3,723 12,613 30%
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 1,447 345,641
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 94 18,743
Announced acquisition 89 14,020
Completed acquisition 764 180,527
Liquidated 499 132,179
Total 1,446 345,469
SPAC IPO pipeline 41 6,306

Recent SPAC IPO Performance

Symbol Name Price Unit Return
TACHU Titan 9.98 -0.2%
SZZLU Sizzle II 9.98 -0.2%
SOUL/U Soulpower 10.01 0.1%
SDHIU Siddhi 10.03 0.3%
UYSCU UY Scuti 10.07 0.7%
GSHRU Gesher II 10.05 0.5%
QSEAU Quartzsea 10.07 0.7%
NHICU NewHold III 10.03 0.3%
RAC/U Rithm 10.04 0.4%
FERAU Fifth Era 10.07 0.7%
LOKVU Live Oak V 10.06 0.6%
AACBU Artius II 10.08 0.8%
MAYAU Maywood 10.18 1.8%
ATIIU Archimedes II 10.07 0.7%
KFIIU K&F Growth II 10.08 0.8%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 57.74 1281%
LMB Limbach Holdings 83.52 1179%
TGLS Tecnoglass 67.81 1176%
VRT Vertiv 71.35 813%
CERE Cerevel Therapeutics 44.98 461%
SMPL Simply Good Foods 36.61 350%
TWNK Hostess Brands 33.32 342%
BLBD Blue Bird 32.80 334%
DKNG DraftKings 33.75 312%
IRDM Iridium 24.29 311%
MLTX MoonLake Immunotherapeutics 36.97 270%
MP MP Materials 28.19 238%
WSC Williams Scotsman 23.21 191%
IONQ IonQ 24.63 179%
ASTS AST SpaceMobile 22.40 178%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
SOC Sable Offshore 20.50 150%
VRRM Verra Mobility 21.40 147%
DJT Trump Media 19.85 140%
MGY Magnolia Oil & Gas 20.72 138%
GRND Grindr 19.15 130%
RKLB Rocket Lab 19.99 128%
CLBT Cellebrite 19.25 118%
SYM Symbotic 20.28 103%