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SPACListing

Monthly report

The blank-check market in May 2025

Every lifecycle event the filing record places in May 2025: IPOs that priced, combinations announced and closed, and trusts returned.

IPOs priced

25

Capital raised

$5.6B

Deals announced

2

Deals closed

3

Liquidations

15

Filing sentiment index

51.5Neutral

Formation and attrition are roughly in balance against the last decade.

0 · frozen50100 · hot
  • Issuance

    88

    25 IPOs priced

  • Pipeline

    84

    38 new registrations

  • Deal formation

    42

    2 combinations announced

  • Completion balance

    36

    35.8 % of resolutions were closings

  • Attrition

    8

    15 liquidations

IPOs priced 25

Combinations announced 2

Combinations completed 3

Trusts returned 15

Compiled by the SPACListing research desk

Last reconciled Oct 19, 2026

Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally final IPO prospectuses, merger filings and proxy statements, current reports announcing closings, delisting and deregistration notices. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.

Read the full methodology · What is in the dataset · Report a correction

SPACListing is a reference-data service, not an investment adviser. Nothing here is a recommendation to buy or sell any security.