Jagged Peak Energy fell short of its IPO goal, a source told Reuters. It priced 31.6 million shares at $15 instead of the target range of $16 to $18.
Why this matters: Those hopeful that energy IPOs would thrive this year after OPEC cuts and Trump reregulation promises will pay close attention to this miss.
Illustration: Sarah Grillo/Axios
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New York City Mayor Bill de Blasio announces at the USTA Bille Jean King tennis center that the venue will be transformed into a 350-bed temporary hospital. Photo: Bryan R. Smith/AFP via Getty Images
New York City Mayor Bill de Blasio told a news conference Tuesday of plans to triple hospital bed numbers to combat the novel coronavirus by transforming facilities into makeshift hospitals — including U.S. Open tennis courts.
The big picture: The city now accounts for a quarter of all COVID-19 deaths in the U.S. — more than 1,000 as of Wednesday morning. De Blasio said the city had "about 20,000 working hospital beds in our major hospitals" before the outbreak. "We now need to, in just the next weeks ... produce three times that number," he said.
The novel coronavirus has now killed more than 4,000 people in the U.S. — with over 1,000 deaths reported in New York City alone, per Johns Hopkins data. The number of deaths are still much lower than those reported in Italy, Spain and China.
Of note: Hours earlier, President Trump noted it's "going to be a very painful two weeks," with projections indicating the novel coronavirus could kill 100,000–240,000 Americans — even with strict social distancing guidelines in place. "They are going to be facing a war zone," he said of medical workers.