Membership Collective Group $420 million IPO
Davis Polk advised the underwriters in connection with the $420 million initial public offering by Membership Collective Group Inc. of 30,000,000 shares of its Class A common stock. Membership Collective Group, the parent company of Soho House, is listed on the New York Stock Exchange under the ticker symbol “MCG.” The SEC-registered IPO included 223,100 shares of Class A common stock sold directly by MCG to eligible employees and members of Soho House located in the United Kingdom, pursuant to a prospectus approved by the U.K.’s Financial Conduct Authority.
The Membership Collective Group (“MCG”) is a global membership platform of physical and digital spaces that connects a vibrant, diverse and global group of members. These members use the MCG platform to work, socialize, connect, create and flourish. MCG began with the opening of the first Soho House in 1995 and remains the only company to have scaled a private membership network with a global presence. Members around the world engage with MCG through its global portfolio of 30 Soho Houses, nine Soho Works, The Ned in London, Scorpios Beach Club in Mykonos, Soho Home, its interiors and lifestyle retail brand, and its digital channels.
The Davis Polk capital markets team included partners Richard D. Truesdell Jr. and Marcel Fausten and counsel Dan Gibbons. The U.K. corporate team included partner Simon Witty and associates Mark Chalmers, Alexander W. Simmonds and Vivek Thanki. The tax team included partner Po Sit. Partner Frank J. Azzopardi provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.