Ticker LaunchSPAC IPO underwriters league table, 2025
The most active SPAC IPO underwriters in 2025, ranked by deals led as lead-left underwriter. Cantor ranks first with 15 deals.
All years 2026 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
| # | Firm | Deals as lead-left | Deals in any role | Proceeds of deals led | Median deal led |
|---|---|---|---|---|---|
| 1 | Cantor | 15 | 17 | $3.79B | $220M |
| 2 | BTIG | 13 | 14 | $2.56B | $200M |
| 3 | Clear Street | 9 | 10 | $1.59B | $200M |
| 4 | Cohen & Company Capital Markets | 6 | 6 | $1.04B | $150M |
| 5 | D. Boral Capital | 4 | 5 | $900M | $225M |
| 6 | Kingswood | 3 | 4 | $294M | $72M |
| 7 | A.G.P. | 3 | 3 | $160M | $50M |
| 8 | Stifel | 2 | 2 | $420M | $210M |
| 9 | JonesTrading Institutional Services | 2 | 2 | $200M | $200M |
| 10 | ThinkEquity | 2 | 2 | $140M | $70M |
| 11 | Maxim Group | 2 | 2 | $120M | $120M |
| 12 | Bain Capital | 1 | 1 | $400M | $400M |
| 13 | Citigroup | 1 | 2 | $360M | $360M |
| 14 | Executive Officer of The Gores | 1 | 1 | $312M | $312M |
| 15 | Barclays | 1 | 1 | $300M | $300M |
| 16 | III Partners | 1 | 1 | $300M | $300M |
| 17 | Karbon Capital Partners | 1 | 1 | $300M | $300M |
| 18 | Supporters of Social Capital | 1 | 1 | $300M | $300M |
| 19 | Alussa Energy Sponsor II | 1 | 1 | $250M | $250M |
| 20 | Futu | 1 | 1 | $250M | $250M |
| 21 | CGC III Sponsor | 1 | 1 | $240M | $240M |
| 22 | SilverBox | 1 | 1 | $240M | $240M |
| 23 | Table of Contents Siddhi Capital | 1 | 1 | $240M | $240M |
| 24 | Oxley Bridge Acquisition | 1 | 1 | $220M | $220M |
| 25 | Santander | 1 | 2 | $220M | $220M |
| 26 | Soulpower Acquisition Sponsor | 1 | 1 | $220M | $220M |
| 27 | Thiel Capital | 1 | 1 | $210M | $210M |
| 28 | American Drive Acquisition Company | 1 | 1 | $200M | $200M |
| 29 | Artius II Acquisition | 1 | 1 | $200M | $200M |
| 30 | Benchmark | 1 | 2 | $200M | $200M |
| 31 | Fortress Investment | 1 | 1 | $200M | $200M |
| 32 | Live Oak Merchant Partners | 1 | 1 | $200M | $200M |
| 33 | Northland | 1 | 1 | $200M | $200M |
| 34 | President & CEO of Triumph | 1 | 1 | $200M | $200M |
| 35 | President of Marubeni Growth Capital | 1 | 1 | $200M | $200M |
| 36 | Rosey Sea Holdings | 1 | 1 | $200M | $200M |
| 37 | United Overseas | 1 | 1 | $200M | $200M |
| 38 | Dynamix | 1 | 1 | $175M | $175M |
| 39 | Benjamin | 1 | 1 | $150M | $150M |
| 40 | Cambridge International Partners | 1 | 1 | $150M | $150M |
| 41 | RoundTable Partners | 1 | 1 | $150M | $150M |
| 42 | FIGX Capital | 1 | 1 | $131M | $131M |
| 43 | Experienced Partners | 1 | 1 | $100M | $100M |
| 44 | I-Bankers | 1 | 1 | $100M | $100M |
| 45 | Social Commerce Partners | 1 | 1 | $100M | $100M |
| 46 | EarlyBird | 1 | 1 | $75M | $75M |
| 47 | European Dismantler | 1 | 1 | $75M | $75M |
| 48 | Lykos International | 1 | 1 | $60M | $60M |
| 49 | PRC Target Company | 1 | 1 | $60M | $60M |
| 50 | Scieniti | 1 | 1 | $50M | $50M |
Lead-left is the first bank named on the final prospectus cover; proceeds (base deal, before the over-allotment) are credited in full to that bank. "Any role" counts every bank on the cover. Based on the 100 deals with underwriters on record.
Other tables: US IPO underwriters · US IPO law firms · SPAC IPO law firms
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