SPAC and US IPO Activity

Year SPAC IPOs Total US IPOs SPAC % SPAC Proceeds $M US IPO Proceeds $M SPAC %
2025 9 12 75% 1,352 3,723 36%
2024 57 133 43% 9,619 42,240 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 1,433 343,266
* IPOs greater than $40M, excludes direct listings.

Summary of SPACs

  # Proceeds $M
Seeking acquisition 87 17,657
Announced acquisition 97 15,914
Completed acquisition 749 177,285
Liquidated 500 132,409
Total 1,433 343,266
SPAC IPO pipeline 26 3,545

Recent SPAC IPO Performance

Symbol Name Price Unit Return
KFIIU K&F Growth II 10.00 0.0%
SVCCU Steller V 10.06 0.6%
FGMCU FG Merger II 9.85 -1.5%
DMAAU Drugs Made in America 10.03 0.3%
COLAU Columbus 10.09 0.9%
HVIIU Hennessy VII 10.04 0.4%
PLMKU Plum IV 10.06 0.6%
RIBBU Ribbon 10.08 0.8%
CEPO Cantor Equity Partners I 10.11 1.1%
TDACU Translational Development 10.06 0.6%
RANGU Range 10.17 1.7%
MLACU Mountain Lake 10.15 1.5%
DRDBU Roman DBDR II 10.05 0.5%
JACS/U Jackson II 10.20 2.0%
SPHAU Shepherd Ave 10.15 1.5%

Top Performing SPACs

Symbol Name Price Unit Return
PRIM Primoris 78.79 1807%
VRT Vertiv 120.26 1465%
LMB Limbach Holdings 97.00 1395%
TGLS Tecnoglass 77.49 1370%
CERE Cerevel Therapeutics 44.98 461%
DKNG DraftKings 42.28 425%
WSC Williams Scotsman 37.35 403%
BLBD Blue Bird 37.00 398%
IRDM Iridium 28.50 395%
IONQ IonQ 39.50 365%
MLTX MoonLake Immunotherapeutics 46.36 364%
SMPL Simply Good Foods 36.86 353%
TWNK Hostess Brands 33.32 342%
DJT Trump Media 31.07 309%
ASTS AST SpaceMobile 26.44 239%
RKLB Rocket Lab 27.50 228%
SMR NuScale Power 25.50 225%
GDYN Grid Dynamics 24.05 203%
CLBT Cellebrite 25.60 203%
VRRM Verra Mobility 25.50 202%
PWP Perella Weinberg 24.38 187%
MP MP Materials 23.94 181%
OWL Blue Owl Capital 23.60 176%
ROIC Retail Opportunity Investments (ROI) 17.46 174%