Updated May 9, 2019

Uber prices IPO at $45 per share

Illustration: Aïda Amer/Axios

Uber on Thursday priced its initial public offering at $45 per share. That's near the bottom of its anticipated $44-$50 range and below where it last sold shares in the private markets.

By the numbers: The company itself raised $8.6 billion, inclusive of a concurrent $500 million investment from PayPal. Insiders are expected to sell another 27 million shares in the offering, generating another $1.2 billion. This puts its initial market cap at around $75.5 billion, and its fully diluted value just north of $82 billion.

Shares will begin trading tomorrow on the New York Stock Exchange, under ticker symbol UBER.

The bottom line: This could be bankers playing for the pop but it reads more like softer-than-expected investor interest, driven both by Lyft's stock struggles and worries over how new China import tariffs could impact the broader markets.

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Energy deputy secretary nominee in hot water after contradicting Trump

Mark Menezes speaks at a forum in Addis Ababa, Ethiopia, June 12. Photo: Minasse Wondimu Hailu/Anadolu Agency/Getty Images

Trump administration officials are internally raising concerns about President Trump’s nominee for Energy deputy secretary, who appeared to openly contradict the president on nuclear waste storage at Nevada’s Yucca Mountain last week.

Driving the news: While speaking at a House Energy and Commerce subcommittee hearing last Wednesday, Mark Menezes told members of the panel that the Trump administration is still interested in storing nuclear waste at Yucca Mountain and that “what we're trying to do is to put together a process that will give us a path to permanent storage at Yucca."

Exclusive: Pompeo says new China media restrictions "long overdue"

Photo: Mark Wilson/Getty Images

The State Department announced Tuesday that it has designated five Chinese state media outlets as "foreign missions," meaning that they will be treated as arms of the Chinese government.

Driving the news: In his first public statement on the new designation, Secretary of State Mike Pompeo tells Axios that the five outlets are "clearly controlled by the [Chinese Communist Party], and we are simply recognizing that fact by taking this action.”

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