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
Formation and attrition are roughly in balance against the last decade.
Issuance
8825 IPOs priced
Pipeline
8438 new registrations
Deal formation
422 combinations announced
Completion balance
3635.8 % of resolutions were closings
Attrition
815 liquidations
IPOs priced 25
- Searching
- Trust
- $264M
- Per share
- $10.14
- IPO
- May 2025
- Deadline
- Nov 29, 202641d
- Searching
- Trust
- $240M
- Per share
- $10.42
- IPO
- May 2025
- Deadline
- May 30, 2027223d
- Announced
- Trust
- $58.4M
- Per share
- $10.44
- IPO
- May 2025
- Deadline
- May 30, 2027223d
- Announced
- Trust
- $78.3M
- Per share
- $10.47
- IPO
- May 2025
- Deadline
- Nov 29, 202641d
- Announced
- Trust
- $88.6M
- Per share
- $10.27
- IPO
- May 2025
- Deadline
- Aug 27, 2026
- Searching
- Trust
- $240M
- Per share
- $10.43
- IPO
- May 2025
- Deadline
- May 27, 2027220d
- Searching
- Trust
- $260M
- Per share
- $10.42
- IPO
- May 2025
- Deadline
- May 22, 2027215d
- Searching
- Trust
- $264M
- Per share
- $10.43
- IPO
- May 2025
- Deadline
- May 23, 2027216d
- Approved
- Trust
- $241M
- Per share
- $10.49
- IPO
- May 2025
- Deadline
- Nov 22, 202634d
- Searching
- Trust
- $313M
- Per share
- —
- IPO
- May 2025
- Deadline
- May 19, 2027212d
- Completed
- Trust
- $254M
- Per share
- $10.15
- IPO
- May 2025
- Deadline
- —
- Searching
- Trust
- $252M
- Per share
- $10.45
- IPO
- May 2025
- Deadline
- May 16, 2027209d
- Searching
- Trust
- $210M
- Per share
- $10.42
- IPO
- May 2025
- Deadline
- Feb 15, 2027119d
- Searching
- Trust
- $252M
- Per share
- —
- IPO
- May 2025
- Deadline
- May 14, 2027207d
- Completed
- Trust
- $424M
- Per share
- —
- IPO
- May 2025
- Deadline
- —
- Announced
- Trust
- $157M
- Per share
- $10.26
- IPO
- May 2025
- Deadline
- May 12, 2027205d
- Searching
- Trust
- —
- Per share
- —
- IPO
- May 2025
- Deadline
- Aug 8, 2026
- Searching
- Trust
- $374M
- Per share
- $10.42
- IPO
- May 2025
- Deadline
- May 5, 2027198d
- Completed
- Trust
- $286M
- Per share
- —
- IPO
- May 2025
- Deadline
- —
- Completed
- Trust
- —
- Per share
- —
- IPO
- May 2025
- Deadline
- —
- Announced
- Trust
- $314M
- Per share
- $10.46
- IPO
- May 2025
- Deadline
- May 1, 2027194d
- Searching
- Trust
- $314M
- Per share
- —
- IPO
- May 2025
- Deadline
- May 2, 2027195d
- Searching
- Trust
- $72.1M
- Per share
- $10.06
- IPO
- May 2025
- Deadline
- —
- Searching
- Trust
- $181M
- Per share
- $10.50
- IPO
- May 2025
- Deadline
- Sep 30, 2026
- Announced
- Trust
- $180M
- Per share
- $10.35
- IPO
- May 2025
- Deadline
- Jan 30, 2027103d
Combinations announced 2
- Completed
- Trust
- —
- Per share
- —
- IPO
- Feb 2026
- Deadline
- —
- Announced
- Trust
- $9.1M
- Per share
- —
- IPO
- May 2023
- Deadline
- May 4, 2026
Combinations completed 3
- Completed
- Trust
- $4.4M
- Per share
- $10.53
- IPO
- Sep 2022
- Deadline
- —
- Completed
- Trust
- $32.8M
- Per share
- —
- IPO
- Jun 2023
- Deadline
- —
- Completed
- Trust
- —
- Per share
- —
- IPO
- Feb 2026
- Deadline
- —
Trusts returned 15
- Liquidated
- Trust
- $1.6M
- Per share
- $11.04
- IPO
- May 2021
- Deadline
- Jan 7, 2025
- Announced
- Trust
- $23.5M
- Per share
- —
- IPO
- Dec 2021
- Deadline
- —
- Liquidated
- Trust
- $23.6M
- Per share
- —
- IPO
- Dec 2021
- Deadline
- —
- Announced
- Trust
- $815K
- Per share
- $37.10
- IPO
- Dec 2021
- Deadline
- Dec 15, 202657d
- Liquidated
- Trust
- $96.0M
- Per share
- —
- IPO
- Nov 2021
- Deadline
- —
- Liquidated
- Trust
- $34.3M
- Per share
- $10.15
- IPO
- Jan 2021
- Deadline
- Nov 20, 2024
- Completed
- Trust
- $4.4M
- Per share
- $10.53
- IPO
- Sep 2022
- Deadline
- —
- Liquidated
- Trust
- $68.3M
- Per share
- —
- IPO
- Dec 2021
- Deadline
- —
- Liquidated
- Trust
- $43.2M
- Per share
- $10.68
- IPO
- Jan 2022
- Deadline
- Jan 14, 2024
- Completed
- Trust
- $10.6M
- Per share
- $11.50
- IPO
- Dec 2021
- Deadline
- —
- Announced
- Trust
- $2.5M
- Per share
- $10.54
- IPO
- Dec 2021
- Deadline
- Oct 14, 2025
- Approved
- Trust
- $2.2M
- Per share
- $12.73
- IPO
- Dec 2021
- Deadline
- —
- Announced
- Trust
- $20.7M
- Per share
- —
- IPO
- Dec 2021
- Deadline
- —
- Approved
- Trust
- $6.5M
- Per share
- —
- IPO
- Dec 2021
- Deadline
- —
- Liquidated
- Trust
- $19.5M
- Per share
- —
- IPO
- Feb 2021
- Deadline
- —
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.