Photo illustration: Sarah Grillo/Axios. Photo: Sylvain Gaboury/Patrick McMullan via Getty Images

Pershing Square Tontine Holdings, a special purpose acquisition company formed by Bill Ackman to acquire "mature unicorns," filed for a $3 billion IPO.

Why it matters: $3 billion would be the most money ever raised by a SPAC. And it may ultimately raise nearly $6.5 billion, based on concurrent plans to raise between $1 billion and $3 billion from funds associated with Ackman's hedge funds, plus up to another $450 million if banks exercise their over-allotment options.

  • Mature unicorns? Yeah, we need a better term for this. Twitter is helping out.
  • The backdrop: Pershing Square did a SPAC back in 2011, which ultimately took Burger King public.

The bottom line: "The deal will give Ackman firepower to compete for a big acquisition against some of the largest private equity firms, such as Apollo Global Management and The Blackstone Group," writes Reuters.

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Sep 15, 2020 - Politics & Policy

Bipartisan Problem Solvers Caucus unveils $2 trillion coronavirus bill

Rep. Josh Gottheimer joined by other members of the Problem Solvers Caucus, unveils the March to Common Ground proposal, Sept. 15. Photo: Caroline Brehman/CQ-Roll Call, Inc via Getty Images

A bipartisan group of 50 House members known as the Problem Solvers Caucus unveiled a roughly $2 trillion coronavirus stimulus bill on Tuesday amid frustration with congressional and White House leaders for failing to deliver desperately needed aid to Americans.

Why it matters: The legislation, which is widely viewed as unpassable, is a last-ditch effort by centrist lawmakers to force party leaders back to the negotiating table before the November election.

Amy Harder, author of Generate
2 hours ago - Energy & Environment

Climate change goes mainstream in presidential debate

Photo illustration: Aïda Amer/Axios. Photo: Olivier Douliery-Pool/Getty

The most notable part of Thursday’s presidential debate on climate change was the fact it was included as a topic and assumed as a fact.

The big picture: This is the first time in U.S. presidential history that climate change was a featured issue at a debate. It signals how the problem has become part of the fabric of our society. More extreme weather, like the wildfires ravaging Colorado, is pushing the topic to the front-burner.

Finally, a real debate

Photo: Morry Gash/AP

A more disciplined President Trump held back from the rowdy interruptions at tonight's debate in Nashville, while making some assertions so outlandish that Joe Biden chuckled and even closed his eyes. A Trump campaign adviser told Axios: "He finally listened." 

The result: A real debate.