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Photo: John Locher / AP

Music streaming giant Spotify confidentially filed IPO documents with the SEC at the end of December, Axios has learned from multiple sources.

Why it matters: Spotify is pursuing a direct listing instead of a traditional float, causing both Silicon Valley and Wall Street to pay very close attention. If successful, it could change how some tech companies go public.

The direct listing means no road show or other typical IPO accoutrements — including some of the Wall Street fees, although several investments banks are involved. The quiet period does seem intact, however, as a Spotify spox declined comment.

All indications are that Spotify wants to list in Q1, and timing of the confidential F-1 filing would support such a calendar. But yesterday came news that the company has been sued for $1.6 billion for copyright infringement. It's unclear how the suit will affect Spotify's direct listing plans, outside of needing to add a new risk factor to the confidential docs.

Go deeper

1 hour ago - World

Map: A look at world population density in 3D

This fascinating map is made by Alasdair Rae of Sheffield, England, a former professor of urban studies who is founder of Automatic Knowledge. It shows world population density in 3D.

Details: "No land is shown on the map, only the locations where people actually live. ... The higher the spike, the more people live in an area. Where there are no spikes, there are no people (e.g. you can clearly identify ... the Sahara Desert)."

Biden's Day 1 challenges: The immigration reset

Illustration: Aïda Amer/Axios

President-elect Biden has an aggressive Day One immigration agenda that relies heavily on executive actions to undo President Trump's crackdown.

Why it matters: It's not that easy. Trump issued more than 400 executive actions on immigration. Advocates are fired up. The Supreme Court could threaten the Deferred Action for Childhood Arrivals (DACA) program, and experts warn there could be another surge at the border.

11 hours ago - Sports

Broncos and 49ers the latest NFL teams impacted by coronavirus crisis

From left, Denver Broncos quarterbacks Drew Lock, Brett Rypien and Jeff Driskel during an August training session at UCHealth Training Center in Englewood, Colorado. Photo: Justin Edmonds/Getty Images

The COVID-19 pandemic has thrown the NFL season into chaos, with all Denver Broncos quarterbacks sidelined, the San Francisco 49ers left without a home or practice ground and much of the Baltimore Ravens team unavailable, per AP.

Driving the news: The Broncos confirmed in a statement Saturday night that quarterbacks Drew Lock, Brett Rypien and Blake Bortles were identified as "high-risk COVID-19 close contacts" and will follow the NFL's mandatory five-day quarantine, making them ineligible for Sunday's game against New Orleans.