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Soho House Austin is run by the Membership Collective Group.
MCG/Cristina Fisher
Science of Sight,
On Thursday, the eye equipment manufacturer will lead a group of six companies to the public share markets. Other businesses that will be open for business include:
Sera Prognostics is a company that specializes in predicting the future.
Rapid Micro Biosystems is a company that specializes in microbiological systems.
Edison, Phillips
& Company,
Collective Group of Members,
and
F45 Training Holdings is a company that specializes in military training.
The New York Stock Exchange has listed F45 Training, the fitness franchiser sponsored by actor Mark Wahlberg, and Membership Collective, the parent company of the Soho House private clubs. The other four are scheduled to debut on the Nasdaq. Both Sight Sciences and Rapid Micro raised the size of their deals, which were priced over their intended ranges. Sight filed on July 8 to offer 6.98 million shares at a price range of $20 to $23, which it increased to 10 million shares at a price range of $23 to $24 each on Wednesday. The Menlo Park, California-based firm sold 10 million shares at $24 each. SGHT will be the ticker symbol for the stock. Morgan Stanley and BofA Securities are the deal’s underwriters. Sight is working on gadgets that attack the root causes of eye disease. The OMNI Surgical System is used to treat glaucoma, while the TearCare System is used to treat dry eye syndrome. OMNI was approved for extended use by the Food and Drug Administration in March, while TearCare is supplied to optometry and ophthalmology practices. Rapid Micro raised $158.4 million on Wednesday by selling 7.92 million $20 shares. The company has filed to sell 6 million shares at a price range of $18 to $20 per share. The symbol for the stock will be RPID. Rapid Micro is also a device manufacturer. The company’s Growth Direct platform automates and modernizes the microbial quality control testing process, or MQC, which is used by pharmaceutical companies to assure that their facilities and products are germ-free. According to the prospectus, Rapid’s Growth Direct platform removes 85 percent of the stages typically utilized in MQC and reduces result times by several days.
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Sera Prognostics generated $75 million by selling 4.7 million shares at a price of $16 each, the middle of its $15 to $17 range. SERA will be the ticker symbol for the stock. Sera, dubbed “the pregnancy company,” aims to improve maternal and newborn health while lowering costs. The PreTRM test predicts the likelihood of a premature birth.
Anthem
According to the prospectus, Anthem (ticker: ANTM), the nation’s second-largest health insurer, will make PreTRM available to qualified pregnant members as part of a multiyear contract. F45 Training is similarly priced in the middle. About 20.3 million shares of the fitness company were sold at a price of $16 each, which was in the center of its $15 to $17 price range. The symbol for the stock will be FXLV. F45 is a 45-minute workout that combines components of high-intensity interval, circuit, and functional training. It was founded in 2013. The workouts are aimed at anyone looking for a less expensive alternative to one-on-one personal training. F45 is almost entirely based on the franchise model, with 2,801 franchisees sold in 63 countries. Wahlberg and FOD Capital, a family office, made a minority stake in F45 in March 2019. According to the prospectus, MWIG, which is backed by Wahlberg and FOD, will own approximately 29 percent of F45 after the IPO. Membership Collective Group’s much-anticipated deal ended up falling short of expectations. After selling 30 million shares for $14, the low end of the $14 to $16 range, Soho House’s parent company made $420 million. MCG is its ticker. In 1995, the first Soho House, a private members-only club, opened its doors. As of July 4, the Membership Collective currently has 30 Soho Houses, nine Soho Works (members-only workspaces), the Ned in London, and the Scorpios Beach Club in Mykonos, Greece. The company has around 119,000 subscribers, with Soho House accounting for the majority of them (111,300). A “US Every House” annual membership costs around $3,400 and allows clients access to all of the houses worldwide, according to the brochure. Finally, Phillips Edison is slated to open for business on Thursday. The corporation raised $476 million by selling 17 million shares at $28 each, the lowest point in its pricing range of $28 to $31. PECO will be the symbol for the stock. Phillips is a self-managed real estate investment trust that owns and runs neighborhood and community shopping complexes including grocery stores. According to a prospectus, it possessed equity interests in 300 shopping complexes as of March 31. Luisa Beltran can be reached at luisa.beltran@dowjones.com./n
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