Source: Giphy

GreenSky, an Atlanta-based digital lending platform, set its IPO terms to 34.09 million shares at $21-$23.

Why it's a big deal: Because this is a major market validation test for an online lending market whose last two VC-backed "unicorns" — LendingClub and OnDeck Capital — have flopped post-IPO.

  • GreenSky would have a fully-diluted market value of around $4.2 billion, were it to price in the middle of its range, and has raised over $600 million from firms like TPG Growth, Pimco, DST Global, ICONIQ Capital, QED Investors and Wellington Management.
  • It plans to trade on the Nasdaq under ticker GSKY, with Goldman Sachs as lead underwriter.
  • The company reports $139 million of net income on $326 million in revenue for 2017.

Bottom line: "GreenSky made its name as a lender to help people pay for home improvement projects and expanded into helping fund elective health-care procedures." — Bloomberg

Go deeper

Updated 4 mins ago - World

Massive explosion rocks Beirut

Photo: Anwar Amro/AFP via Getty Images

A major explosion has slammed central Beirut, Lebanon, damaging buildings as far as several miles away and injuring scores of people.

Driving the news: The cause of the explosion is unknown. It's also unclear how many people were killed or wounded, but the Lebanese Red Cross has told AP that casualties number in the hundreds. Reuters reports that at least 10 people have been killed, citing security sources.

Updated 40 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 18,349,260 — Total deaths: 695,550 — Total recoveries — 10,951,112Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 4,732,418 — Total deaths: 155,942 — Total recoveries: 1,513,446 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response.
  4. Public health: 40% of Americans continue to put off medical care.
  5. Politics: Trump tells "Axios on HBO" that pandemic is "under control," despite surges in infections and uptick in deaths.
  6. Business: Low-income households are struggling to pay energy bills — Construction spending falls for 4th straight month.
Updated 49 mins ago - Science

The U.S. is at risk of attacks in space

Illustration: Annelise Capossela/Axios

Other nations are catching up to U.S. capabilities in space, potentially putting American assets in orbit at risk.

Why it matters: From GPS to imagery satellites and others that can peer through clouds, space data is integral to American national security.