SoHo and Dayforce Private Talks; Novo and Tonix See Pharma Jump

On this episode of Stock Movers:
- SoHo House (SHCO) is higher on news it is going private. Soho House & Co Inc. has entered into definitive agreements pursuant to which an investor group led by MCR and its Chairman and CEO Tyler Morse will acquire the outstanding shares of Soho House not held by certain significant shareholders.
- Dayforce (DAY) shares are higher on news Thoma Bravo is in talks to acquire human resources management software provider Dayforce Inc., according to people familiar with the matter. The buyout firm is planning to take the Minneapolis-based company private in a deal that could be announced as soon as the coming weeks, the people said.
- Novo Nordisk (NVO) shares advanced after the drugmaker's weight-loss drug Wegovy received US approval to treat a serious form of liver disease. The US Food and Drug Administration's decision "could start to help shift the momentum for Novo following a more difficult start to the year," according to Evan David Seigerman, an analyst at BMO Capital Markets.
- Tonix Pharmaceuticals (TNXP) shares surged following a trading halt ahead of an announcement that the firm received FDA approval for Tonmya to treat fibromyalgia in adults.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.

Speaker 2 (00:08):
The Stock Movers podcast, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg data.

Speaker 3 (00:17):
Let's take a look at some of the stocks on
the move today. I'm Lis Matteo. We're joined by Bloomberg's
Valerie ty Tel now Valor. It looks like it's take
private Monday. Why is that? Yeah?

Speaker 1 (00:27):
Look, we've had two, I guess reported take private deals.
One of them has been confirmed in that's soho House
going private at nine dollars a share. We're seeing the
likes of the share trade sixteen percent higher to eight
dollars in eighty eight cents in share, so very close
to that nine dollars a share mark. The deal implies
a total enterprise value for this private members club to

(00:50):
two point seven billion dollars. Investors and key shareholders have
actually been pushing for this move since late last year,
after the shares swamped after its IPO in twenty twenty one.
It actually ipo'd at fourteen dollars a share, so still
significantly under that IPO price back in twenty twenty one.
Apollo Global Management was central to the deal. According to

(01:11):
people familiar with the matter, as the Wall Street Journal
is reporting providing more than seven hundred million dollars in
equity and debt financing.

Speaker 3 (01:18):
And the other one Toma Bravo.

Speaker 1 (01:20):
Toma Bravo, this is the buyout firm is planning to
take software firm day Force private. This is a human
resource management software provider. We're seeing the likes of the
share jump nearly twenty nine percent in pre market trade.
The deal could be announced as soon as the coming weeks.
According to sources speaking to Bloomberg, day Force is down
about sixty percent since its twenty twenty one highs and

(01:42):
while the company has increased its revenue and become profitable,
the enterprise software market has been very difficult to navigate
since covid. It was valued at eight point four billion
dollars as of Friday's closed and is adding to that
pretty significantly. So far this morning, day Force up twenty
nine percent on a report of a take private by
Toma Bravo.

Speaker 3 (02:03):
All right, so another trend, you're seeing FDA approvals. They're
pushing up gaids in some pharmaceutical companies.

Speaker 1 (02:08):
Yeah, the big one being Nova Nordisk up three percent
in pre market trade on FDA approval for liver disease.
This would be using the company's blockbuster weight loss drug
we Goov, getting approval to treat a serious form of
liver disease. And the important thing about this is they
are now beating their rival Eli Lilly to the US
market to treat liver disease. Now using we go v

(02:29):
can help treat scar tissue on the liver, with the
drug reversing some liver damage. And after a tough start
to the year, this is a welcome upside surprise for
Novo Nordisk. This is the actually second positive catalyst for
the Danish pharma company this month. That comes after its
main rival, Eli Lilly's weight loss pill showed some weakness
around its efficacy in a clinical trial earlier. So it's

(02:50):
Novo Nordisk of three percent so far this morning.

Speaker 3 (02:52):
All right, valoring, but I need your help on this one.
Is it Tonics Pharma?

Speaker 1 (02:55):
Tonics Pharma explained Tonics pharmah, No, this is another catalyst
of an f approval for its fibromyalgia drug. This is
the move in the pre market this morning. It's up
twelve percent LISA following a trading halt head of this
announcement on Friday. The drug is expected to be available
in the fourth quarter, and the shares are liking this
news of the FDA approval. That's Tonics Pharma of twelve

(03:17):
percent so far in pre market.

Speaker 2 (03:20):
The Stock Movers podcast from Bloomberg Radio. Check back with
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