SPAC and US IPO Activity

Year SPAC IPOs Total IPOs SPAC % SPAC Proceeds $M Total IPO Proceeds $M SPAC %
2025 79 125 63% 15,724 36,248 43%
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 1,503 357,642
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 129 27,078
Announced acquisition 90 14,258
Completed acquisition 777 182,462
Liquidated 506 133,360
Total 1,502 357,159
SPAC IPO pipeline 42 6,434

Recent SPAC IPO Performance

Symbol Name Price Unit Return
SSEAU STARRY SEA 10.05 0.5%
QUMSU Quantumsphere 10.04 0.4%
HCMAU HCM III 10.10 1.0%
BCARU D. Boral ARC 9.96 -0.4%
APADU A Paradise 0.00 -1
PAII/U Pyrophyte II 10.10 1.0%
SOCAU Solarius Capital 10.05 0.5%
SPEGU Silver Pegasus 10.07 0.7%
GTERU Globa Terra 10.18 1.8%
ONCHU 1RT 10.49 4.9%
EVAC/U EQV Ventures II 10.12 1.2%
CCIIU Cohen Circle II 10.26 2.6%
INACU Indigo 10.13 1.3%
NMPAU NMP 10.06 0.6%
ORIQU Origin 10.06 0.6%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 111.18 2617%
VRT Vertiv 140.00 1728%
LMB Limbach Holdings 114.39 1673%
TGLS Tecnoglass 74.35 1307%
MP MP Materials 74.70 858%
BLBD Blue Bird 55.34 673%
OKLO Oklo 76.00 660%
ASTS AST SpaceMobile 46.85 545%
SYM Symbotic 56.20 462%
CERE Cerevel Therapeutics 44.98 461%
RKLB Rocket Lab 44.70 458%
SMR NuScale Power 40.59 451%
DKNG DraftKings 43.00 435%
MLTX MoonLake Immunotherapeutics 52.40 424%
IONQ IonQ 41.71 393%
TWNK Hostess Brands 33.32 342%
IRDM Iridium 23.81 301%
SOC Sable Offshore 28.83 275%
SMPL Simply Good Foods 29.90 260%
WSC Williams Scotsman 24.35 208%
NAMS NewAmesterdam Pharma 25.50 202%
VRRM Verra Mobility 23.94 181%
MGY Magnolia Oil & Gas 23.51 175%
ROIC Retail Opportunity Investments (ROI) 17.49 175%