JAN News & Events

Janus Living opens at $23.50, IPO priced at $20 per share

Janus Living indicated to open at $23.50-$24, IPO priced at $20 per share

Healthpeak Properties (DOC) and Janus Living (JAN) 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. BofA and JPMorgan acted as joint book running managers for the offering.

The deal size was raised to 42M shares from 37M shares, and the deal priced at the high-end of the $18.00-$20.00 range. 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. BofA and JPMorgan acted as joint book running managers for the offering.