Illustration: Aïda Amer/Axios

SelectQuote, an Overland Park, Kansas-based insurance policy comparison site backed by Brookside Equity Partners, raised $570 million in its IPO.

Why it matters: This is the largest U.S. IPO since early February, and just one of a small handful of non-biotech or non-SPAC issuers to price at all.

  • SelectQuote will trade on the NYSE (SLQT), while Credit Suisse and Morgan Stanley were lead underwriters. It reports $60 million of profit on $263 million in revenue for the nine months ending March 31, 2020.
  • It priced 28.5 million shares at $20, above its $17-$19 range, for an initial market cap of $3.25 billion.

The bottom line: "Since late February, the Cboe Volatility Index, known as Wall Street’s fear gauge, has been above the 20-point threshold that most IPO hopefuls monitor to gauge investor jitters. But it has trended downwards in recent weeks, giving some companies confidence to test the market," writes Reuters.

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Updated Aug 5, 2020 - Politics & Policy

Trump campaign outraises Biden by $25 million in July

Combination images of President Trump and former Vice President Joe Biden. Photo: Alex Wong/Getty Images/Mark Makela/Getty Images

President Trump's re-election campaign and the Republican National Committee announced on Wednesday they collectively raised $165 million in July.

Why it matters: With 90 days until the election, Trump and the RNC outpaced the Biden campaign, the Democratic National Committee and their joint fundraising committees, who announced earlier Wednesday that they raised $140 million last month.

The many divisions over Trump's methane rollback

Illustration: Rebecca Zisser/Axios

EPA's decision to cut regulation of methane is laying bare an oil-and-gas industry divide and setting the stage for political battles this fall and beyond.

Why it matters: Methane is an extremely powerful greenhouse gas and the industry is a key emissions source.

Kushner says Trump didn't promote false Kamala Harris birtherism theory

White House senior adviser Jared Kushner told "CBS This Morning" on Friday that he does not believe President Trump promoted a baseless claim that Sen. Kamala Harris is ineligible to be vice president.

Driving the news: During a press briefing on Thursday, Trump did not question the veracity of a Newsweek op-ed that inaccurately claimed Harris may be ineligible for the office due to her parents' naturalization status at the time of her birth. Harris is an American citizen and was born in Oakland, Calif.