ANALYSIS: SPACs Rise to Majority of IPOs in Q1

SPAC IPOs are now exceeding their all-time highest IPO market share, grabbing a larger piece of the market than even during the pandemic boom market.

The largest SPAC initial public offering in the most recent quarter came from Mountain Lake Acquisition Corp II. The offering raised $360 million for a future deal.

SPAC IPOs Now Nearly Two-thirds of All IPOs

SPACs’ market share represented 64.3% of all IPOs for the quarter and marked a remarkable rise in just one year from the 24.7% of all IPOs SPACs totaled in Q1 2025. It also exceeded all annual market shares since ...