Illustration: Lazaro Gamio/Axios

Lyft will raise $2.34 billion in its initial public offering, after offering more shares than expected and pricing them at the top of their upwardly-revised range.

  • This gives the ride-hail company an initial market cap of around $20.5 billion and a fully-diluted value of nearly $30 billion, which is approximately double Lyft's last valuation in the private markets.

Why it matters: Lyft is expected to be the first in a series of IPOs from highly-valued tech startups, and could help set multiples for where Uber is valued next month.

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Roger Marshall wins Republican Senate nomination in Kansas primary

Rep. Roger Marshall. Photo: Mark Reinstein/Corbis via Getty Images

Rep. Roger Marshall won the Kansas Republican Senate primary on Tuesday evening, beating former Secretary of State Kris Kobach and a slew of other candidates, AP reports.

Why it matters: Following GOP Sen. Pat Roberts' retirement announcement, some Republicans worry that if Kobach won the primary it would endanger the party's chances of keeping the seat and maintaining a majority in the Senate.

Updated 1 hour ago - Politics & Policy

Primary races to watch in Arizona, Kansas, Michigan, Missouri, Washington

Photo: Michael B. Thomas/Getty Images

Primary elections on Tuesday in fives states see crowded fields of both Republicans and Democrats hoping to make the ballot in 2020.

What to watch: Rep. Rashida Tlaib (D-Mich.) is "fighting for her political life" in a tight primary race against Detroit City Council President Brenda Jones, who Tlaib beat by 900 votes in 2018, The New York Times writes. Senate Republicans are also watching the primary race in Kansas to see who could replace retiring Republican Sen. Pat Roberts.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 18,448,084 — Total deaths: 698,023 — Total recoveries — 11,048,174Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 4,765,170 — Total deaths: 156,668 — Total recoveries: 1,528,979 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.