SPAC and US Total IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2026 20 21 95% 4,605 4,808 96%
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 1,588 376,916
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 176 39,093
Announced acquisition 102 16,867
Completed acquisition 793 185,010
Liquidated 517 135,947
Total 1,588 376,916
SPAC IPO pipeline 77 10,519

Recent SPAC IPO Performance

Symbol Name Price Unit Return
KRAQU KRAKacquisition 10.09 0.9%
SAAQU Space Asset 10.20 2.0%
GIXXU GigCapital9 10.05 0.5%
MLAAU Mountain Lake II 9.98 -0.2%
HLXC Helix III 10.26 2.6%
ARCIU Archimedes III 10.09 0.9%
LEGO/U Legato IV 14.30 43.0%
PTORU Praetorian 9.98 -0.2%
ALOVU Aldabra 4 Liquidity 9.99 -0.1%
XCBEU X3 10.00 0.0%
FGIIU FG Imperii 10.00 0.0%
IEAGU Infinite Eagle 10.22 2.2%
OIMAU OneIM 10.11 1.1%
ZKPU Lafayette Digital 10.01 0.1%
BBCQU Bleichroeder II 10.10 1.0%
SORNU Soren 9.98 -0.2%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 149.13 3566%
VRT Vertiv 194.00 2448%
ASTS AST SpaceMobile 120.61 1652%
LMB Limbach Holdings 80.25 1127%
RKLB Rocket Lab 87.91 1034%
OKLO Oklo 92.20 822%
TGLS Tecnoglass 48.92 798%
MP MP Materials 59.68 657%
BLBD Blue Bird 49.70 588%
CERE Cerevel Therapeutics 44.98 461%
SYM Symbotic 55.13 451%
IONQ IonQ 45.63 442%
TWNK Hostess Brands 33.32 342%
NAMS NewAmesterdam Pharma 31.56 282%
DKNG DraftKings 30.13 263%
IRDM Iridium 21.25 250%
IMVT Immunovant 25.97 232%
MGY Magnolia Oil & Gas 25.22 198%
QBTS D-Wave 24.76 192%
MIR Mirion Technologies 25.50 190%
SOFI SoFi 24.77 181%
ROIC Retail Opportunity Investments (ROI) 17.49 175%
ROIV Roivant Sciences 21.68 168%
PWP Perella Weinberg 22.53 162%
BWMX Betterware 18.49 155%