Soho House Moves Closer To Going Private, Following Stock Volatility Since Public Listing

Benzinga

Soho House & Co. is nearing a deal to go private in a transaction led by billionaire Ron Burkle and backed by Apollo Global Management, according to Bloomberg. The deal would value the members’ club operator at around $1.8 billion, with investors paying about $9 per share, compared with Friday’s $7.64 close. Apollo would provide more than $700 million in financing, while MCR Hotels would lead new equity investors. Burkle has pushed to take the company private since last year, following its struggles since going public in 2021. Soho House shares rose as much as 13% in premarket trading on Monday and have climbed more than 30% over the past year.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02So a house and company is nearing a deal to go private in a transaction led by billionaire

00:05Ron Burkle and backed by Opal Global Management, according to Bloomberg.

00:09The deal would value the member's club operator at around $1.8 billion,

00:12with investors paying about $9 per share, here with Friday's $7.64 close.

00:17Opal would provide more than $700 million in financing,

00:20while MCR Hotels would lead new equity investors.

00:23Burkle has pushed to take the company private since last year,

00:26following its struggles since going public in 2021.

00:28So shares rose as much as 13% in pre-market trading on Monday

00:31and have climbed more than 30% over the past year.

00:34For all things money, visit Benzinga.com.

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