Membership Collective Group, which operates members-only luxury hotels and clubs under the Soho House brand, raised $420 million by offering 30 million shares at $14, the low end of the range of $14 to $16.
Membership Collective Group offers memberships to a global collection of restaurants and social clubs. The company's core spaces are known as Soho Houses, which are designed to be creative, collaborative spaces for writers, artists, performers, founders, directors, designers, and producers. The membership of each Soho House is selected by a committee of influential creatives and innovators that represent the local area. Membership Collective Group also offers other spaces such as the work-oriented Soho Works, The Ned in London, and Scorpios Beach Club in Mykonos.
Membership Collective Group plans to list on the NYSE under the symbol MCG. J.P. Morgan, Morgan Stanley, Goldman Sachs, BofA Securities, and HSBC acted as joint bookrunners on the deal.
