Stifel

Stifel appears on the underwriting syndicate of 36 special purpose acquisition company IPOs in our index, including Patriot Acquisition Corp./CI (PTAC), X3 Acquisition Corp. Ltd. (XCBE), Vine Hill Capital Investment Corp. II (VHCP) and BTC Development Corp. (BDCI). The full list, with the role credited on each cover page, is in the mandates table on this page.

Stifel was credited as a book-running manager on 34 of its 36 SPAC mandates, 94% of them. The remainder are co-manager or syndicate positions, where the economics and the sponsor relationship sit elsewhere.

$7.7B of gross proceeds across every offering Stifel 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: $1.9B, being the units the underwriting agreements assigned to Stifel specifically, priced at the $10 standard SPAC unit.

Cyxtera Technologies, Inc., which raised $404M in Sep 2020. Stifel was credited as a book-running manager on that offering.

18 of the SPACs Stifel underwrote closed a combination: Amprius Technologies, Inc., INTEGRATED RAIL & RESOURCES ACQUISITION CORP, Kensington Capital Acquisition Corp. V, Coliseum Acquisition Corp., Silver Spike Acquisition Corp II and Kensington Capital Acquisition Corp. II. Closing means the vehicle filed a current report reporting completion of the acquisition. That is an outcome, not a return.

7 vehicles Stifel took public are still live, either searching or working towards an announced combination: Patriot Acquisition Corp./CI (PTAC), X3 Acquisition Corp. Ltd. (XCBE), Vine Hill Capital Investment Corp. II (VHCP), BTC Development Corp. (BDCI), Solarius Capital Acquisition Corp. (SOCA) and Thayer Ventures Acquisition Corp II (TVAI). Their combination deadlines are on each profile.

64.3%. Of the 28 vehicles Stifel underwrote that have already resolved, 18 closed a business combination and 10 liquidated. The market-wide figure is 59.5%, so Stifel 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 Stifel's closed deals currently is Amprius Technologies, Inc. (AMPX) at $8 a share, ahead of Evolv Technologies Holdings, Inc. and QuantumScape Corp. 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.

Kensington (4 deals), Vine Hill (2 deals), NewHold Industrial Technology (2 deals), Thayer (2 deals) and Hennessy Capital (2 deals). 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 UBS (6), Robert W. Baird & (4), I-Bankers Securities (4), Credit Suisse (4) and Loop Capital Markets (3). 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 Jun 23, 2017 and the most recent May 18, 2026. 7 of its vehicles are still live, so the franchise is active.

2021, with 15 mandates worth $2.9B 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 $214M, against a range from $12.4M to $404M. 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.

Technology (8), Financial Services (6), Healthcare (6), Industrials (5) and Consumer (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 (8), OTC (2) and NYSE (1). Listing venue is taken from the exchange record on the registrant's SEC profile.

10. 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 Stifel itself.