Total:
Annual sum of all SPACs that year still searching for a merger target, had announced a merger, had completed the merger, and liquidated.
Completed: Annual number of SPACs that finished their merger with a target company, effectively taking the company public.
Liquidated: Number of SPACs that failed to find a merger target within their time frame (usually 18-24 months) and had to return the money to investors and dissolve.