Ladenburg Thalmann

Ladenburg Thalmann appears on the underwriting syndicate of 46 special purpose acquisition company IPOs in our index, including Aldabra 4 Liquidity Opportunity Vehicle, Inc. (ALOV), General Purpose Acquisition Corp. (GPAC), Churchill Capital Corp IX/Cayman and Golden Star Acquisition Corp. The full list, with the role credited on each cover page, is in the mandates table on this page.

Ladenburg Thalmann was credited as a book-running manager on 11 of its 46 SPAC mandates, 24% of them. The remainder are co-manager or syndicate positions, where the economics and the sponsor relationship sit elsewhere.

$7.0B of gross proceeds across every offering Ladenburg Thalmann was named on. That is the conventional league-table measure, which credits the full deal to each syndicate member. The narrower figure is its own allocation: $1.5B, being the units the underwriting agreements assigned to Ladenburg Thalmann specifically, priced at the $10 standard SPAC unit.

Intuitive Machines, Inc. (LUNR), which raised $335M in Sep 2021. Ladenburg Thalmann was credited as a book-running manager on that offering.

26 of the SPACs Ladenburg Thalmann underwrote closed a combination: Golden Star Acquisition Corp, Cardio Diagnostics Holdings, Inc., Southland Holdings, Inc., Pegasus Digital Mobility Acquisition Corp., Athena Consumer Acquisition Corp. and Home Plate Acquisition Corp. Closing means the vehicle filed a current report reporting completion of the acquisition. That is an outcome, not a return.

5 vehicles Ladenburg Thalmann took public are still live, either searching or working towards an announced combination: Aldabra 4 Liquidity Opportunity Vehicle, Inc. (ALOV), General Purpose Acquisition Corp. (GPAC), Churchill Capital Corp IX/Cayman, ASPAC II Acquisition Corp. (ASCBF) and Compass Digital Acquisition Corp. (CDAQF). Their combination deadlines are on each profile.

65%. Of the 40 vehicles Ladenburg Thalmann underwrote that have already resolved, 26 closed a business combination and 14 liquidated. The market-wide figure is 59.5%, so Ladenburg Thalmann sits above it. SPACs still searching are excluded, because an unfinished clock is not a result. The rate measures the vehicles, not the bank: a syndicate has no control over whether a sponsor finds a target.

Measured against the $10.00 the units were sold at, the only baseline every SPAC shares, the strongest of Ladenburg Thalmann's closed deals currently is Intuitive Machines, Inc. (LUNR) at $11 a share, ahead of Aeva Technologies, Inc. and All In FutureTech Alliance, Inc.. Treat that as a snapshot, not a return: it ignores dividends, splits, warrant exercise and anything that happened in between, because historical price series are not part of our data. For a proper total-return comparison use your market-data provider with the post-merger tickers.

Ace Global (1 deal), Aldabra 4 LOV Sponsor Partnership (1 deal), ASPAC (1 deal), Astrea (1 deal) and Athena Consumer (1 deal). Sponsor franchises are resolved from the sponsor entity named in each prospectus, so repeat issuers group together even though every vehicle is a separate legal entity.

Most often EarlyBirdCapital (19), I-Bankers Securities (15), Citigroup (7), B. Riley Securities (4) and Dawson James (4). Syndicate composition is read from the prospectus cover and the underwriting section, so these are co-appearances on the same offering, not a commercial relationship we have any other visibility into.

Its first SPAC IPO in our index priced Jul 21, 2006 and the most recent Jan 22, 2026. 5 of its vehicles are still live, so the franchise is active.

2021, with 21 mandates worth $3.8B of gross proceeds. The chart on this page shows the full year-by-year run, which for most houses traces the 2020-21 boom and the retreat that followed.

The average offering it has been named on raised $163M, against a range from $1.3M to $335M. Deal size is a reasonable proxy for where a house sits in the market: the bulge bracket concentrates on larger trusts, the SPAC specialists on smaller ones.

Generalist (13), Technology (12), Consumer (8), Media & Entertainment (6) and Industrials (5). Mandates are read from charter language in the prospectus and are often deliberately broad. Many SPACs reserve the right to pursue any industry, in which case no sector is tagged at all.

Nasdaq (7), OTC (3) and NYSE (1). Listing venue is taken from the exchange record on the registrant's SEC profile.

14. A liquidation means the vehicle reached its combination deadline without closing a deal and returned the trust to public shareholders. That is the mechanism working as designed, not a default. Holders who did not redeem got their pro-rata share of the trust back.

Every figure is read from filings the registrants made with the SEC. Syndicate membership and role come from the prospectus cover and the underwriting section of each IPO prospectus (Form 424B4); outcomes come from the filing record: a current report announcing completion, or a delisting notice ending a liquidation. Nothing here is sourced from press coverage or from Ladenburg Thalmann itself.