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Third Point Raises Concerns Over Soho House's (SHCO) Take-Private Process

Key Summary: On January 29, 2025, Third Point (9.9%) sent a letter to the Board, stating that the stock is undervalued and could benefit from being private. While supporting the take-private decision, they raised concerns about the process with the Chairman and urged the Board to open the sale to external bidders, believing it would attract higher offers and benefit shareholders and members.

Market Cap: $1.6 billion | Soho House & Co Inc. operates a global membership platform of physical and digital spaces that connects a group of members.

On January 29, 2025, Third Point (9.9%) sent a letter to the Board expressing its belief that the stock is undervalued and could realize greater value as a private company. While they support the decision to explore a take-private transaction, they have serious concerns about the process leading to a proposed deal with the Chairman of the Board. They urged the Board to open the sale process to external bidders, believing it would attract higher offers and benefit shareholders and members seeking a rejuvenated vision for Soho House in the hospitality sector

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