Most IPOs completed in the United States in 2021 were SPAC IPOs, which is marked shift from previous years. Only ** percent of IPOs were traditional IPOs in that year, down from ** percent in 2019. The number of U.S. SPAC IPOs accelerated in 2020 compared to previous years - growing by nearly *** since 2019 - and is expected to further increase in 2021. Meanwhile, the number of overall IPOs typically follows the trajectory of the economy as a whole with many in times of economic growth and fewer during periods of economic downturn.
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EY. (December 15, 2021). Distribution of traditional IPOs and special purpose acquisition company (SPAC) IPOs in the United States from 2016 to 2021 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 25, 2026, from /statistics/1234111/number-traditional-spac-ipo-usa/
EY. "Distribution of traditional IPOs and special purpose acquisition company (SPAC) IPOs in the United States from 2016 to 2021." Chart. December 15, 2021. ÌÇÐÄÆƽâ°æ. Accessed July 25, 2026. /statistics/1234111/number-traditional-spac-ipo-usa/
EY. (2021). Distribution of traditional IPOs and special purpose acquisition company (SPAC) IPOs in the United States from 2016 to 2021. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 25, 2026. /statistics/1234111/number-traditional-spac-ipo-usa/
EY. "Distribution of Traditional Ipos and Special Purpose Acquisition Company (Spac) Ipos in The United States from 2016 to 2021." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 15 Dec 2021, /statistics/1234111/number-traditional-spac-ipo-usa/
EY, Distribution of traditional IPOs and special purpose acquisition company (SPAC) IPOs in the United States from 2016 to 2021 ÌÇÐÄÆƽâ°æ, /statistics/1234111/number-traditional-spac-ipo-usa/ (last visited July 25, 2026)
Distribution of traditional IPOs and special purpose acquisition company (SPAC) IPOs in the United States from 2016 to 2021 [Graph], EY, December 15, 2021. [Online]. Available: /statistics/1234111/number-traditional-spac-ipo-usa/
