Soho House Enters New Funding Agreement to Complete Privatization Deal

Soho House said it entered into a new funding commitment agreement - which will allow it to close a deal to go private - after its previous funding fell through, The Wall Street Journal's Katherine Hamilton reports. The members-only club said it had made multiple agreements to secure about $200M in alternative commitments. The commitments will allow for the company to close a deal announced in August for a group of investors led by MCR Hotels to acquire it, the author notes. The proposed transaction has an implied enterprise value of $2.7B, including debt, and would take Soho House private. Earlier in January, MCR, which is one of the biggest hotel owners in the U.S., said it couldn't fully fund its $200M equity commitment to acquire Soho House.