Private members' club operator Soho House announced on Monday that a group of investors led by New York-based MCR Hotels Group will take the company private in a deal valued at approximately $2.7 billion, including debt. Following the announcement, the company's shares surged 15% in pre-market trading.
Soho House shareholders will receive $9 per share in the acquisition, representing a 17.8% premium over Friday's closing price of $7.64.
Since its public debut in 2021, Soho House has faced challenging financial performance, with its market capitalization declining by more than 46% following its New York listing. The company currently holds a valuation of $1.49 billion.
In February 2024, the company established a special board committee to explore privatization options.
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