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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

20

Capital raised

$4.6B

Deals announced

0

Deals closed

1

Liquidations

10

Filing sentiment index

52.2Neutral

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

0 · frozen50100 · hot
  • Issuance

    93

    20 IPOs priced

  • Pipeline

    84

    17 new registrations

  • Deal formation

    60

    0 combinations announced

  • Completion balance

    14

    13.5 % of resolutions were closings

  • Attrition

    10

    10 liquidations

IPOs priced 20

Combinations completed 1

Trusts returned 10

Compiled by the SPACListing research desk

Last reconciled Sep 4, 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.