Janus Living Prices IPO at $20, Opens at $23.50
Janus Living opened at $23.50 on March 20 after pricing its upsized IPO at $20 per share. The senior housing real estate investment trust sold 42M Class A 1 shares and plans to use proceeds for acquisitions, investments, and general corporate purposes. Healthpeak Properties will retain roughly 83.6% of the voting interest following the IPO.LATEST IPOS AND DIRECT LISTINGS:Janus Livingopened on March 20 at $23.50. Healthpeak Propertiesand Janus Living had announced the pricing of Janus Living's upsized initial public offering of 42M shares of Janus Living Class A-1 common stock at a price to the public of $20.00 per share. Janus Living is a pure-play senior housing real estate investment trust that owns communities across the United States. Janus Living expects to use the net proceeds received from the IPO to pursue acquisition and investment opportunities that meet its investment criteria and for general corporate purposes. After completion of the IPO, Healthpeak will own approximately 214,734,000 shares of common stock of Janus Living, representing an approximately 83.6% voting interest in Janus Living, or 81.6% if the underwriters' option is exercised in full.Swarmeropened on March 17 at $12.50. The drone autonomy software company supporting operations in Ukraine priced 3M shares at $5.00 per share. Swarmer intends to use net proceeds from this offering for funding of ongoing operations, including expansion of capabilities and its product offering, hiring employees, integration with the hardware of drone manufacturers, and for working capital and other general corporate purposes.RECENT SPAC IPOS:BHAV Acquisitionopened on March 19 at $9.96. BHAV is a blank check company, formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.PERFORMANCE:Prices as of 11.15 am ET on Monday, March 23 -Janus Living – fractionally up at $23.63Swarmer – down almost 30% at $25.82.RECENT IPOS TO WATCH:Generate Biomedicinesis among stocks that could see new coverage this week as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include Pershing Square USA, Studend Living EduVation, Liftoff, Cerebras Systems, and OpenAI.Clickto see upcoming IPO calendar on TipRanks.Pershing Square USA, or PSUS, a closed end investment company managed by Pershing Square Capital Management, L.P., announced that it has publicly filed with the U.S. Securities and Exchange Commission a registration statement on Form N-2 relating to a proposed initial public offering of its common shares of beneficial interest. Concurrently with the filing of the N-2 Registration Statement, Pershing Square Inc., the prospective parent company of PSCM, publicly filed a registration statement on Form S-1 with the SEC relating to a proposed initial public offering of its common stock. The PSUS Shares are being offered at a price of $50.00 per PSUS Share and investors in the PSUS IPO will receive, for no additional consideration, 20 PSI Shares for every 100 PSUS Shares purchased.Student Living EduVationfiled with the SEC for an initial public offering by the company of 3.75M ordinary shares. The company stated, "We are offering 3,750,000 Ordinary Shares on a firm commitment basis. We anticipate that Offering price of the Ordinary Shares will be between $4.00 and $6.00 per Ordinary Share. The Resale Shareholders are also offering 5,880,000 Ordinary Shares to be sold pursuant to the Resale Prospectus. We are registering the Resale Shares pursuant to the Registration Rights Agreements we entered into with the Six Pre-IPO Investors on September 19, 2025... We will not receive any of the proceeds from the sale of the Ordinary Shares by the Resale Shareholders. Prior to this Offering, there has been no public market for our Ordinary Shares. We intend to apply to list our Ordinary Shares on the Nasdaq Capital Market under the symbol 'SDLV'... We are a Cayman Islands exempted company with limited liability with a principal place of business in Hong Kong through our wholly-owned subsidiary, Student Living Culture Technology Limited. We are a student living and referral of education advisory services provider operating under the "Student Living" brand in Hong Kong. Our mission is to transform student dormitories into incubators for learning, collaboration, and self-discovery, as well as fostering an ecosystem that nurtures future global talent, providing more than just a place to live."Liftoff Mobileannounced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The total number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions and the completion of the SEC's review process.The AI chipmakerCerebras Systemshas picked Morgan Stanley to lead its initial public offering, which could raise about $2B in a listing as soon as April, people familiar with the matter told Bloomberg's Ryan Gould, Bailey Lipschultz and Anthony Hughes. Cerebras, which withdrew its previous IPO registration in October, has filed fresh paperwork for an IPO and is set to meet with analysts and prospective investors this month, the report added.OpenAIis accelerating its plans for a public listing as rivalry with Anthropic intensifies, now planning on listing in Q4 of this year, Berber Jin, Corrie Driebusch, and Kate Clark of The Wall Street Journal. OpenAI is holding discussions with Wall Street banks about a potential initial public offering and has hired several executives to oversee its finance team, sources told the Journal.Elon Musk is targeting mid-June for the timing ofSpaceX's initial public offering, IPO, Ivan Levingston, Stephen Morris, and Mercedes Ruehl of The Financial Times, citing five people familiar with the matter. The company is looking to raise $50B at a valuation of $1.5T, the sources added.Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
