Janus Living launches IPO of 37 million shares at $18-20 price range

Janus Living Inc. has launched its initial public offering of 37 million shares of Class A-1 common stock, with an expected price range of $18 to $20 per share, according to a press release from Healthpeak Properties Inc. (NYSE: DOC).

The senior housing real estate investment trust filed a registration statement on Form S-11 with the Securities and Exchange Commission. Underwriters have a 30-day option to purchase up to an additional 5.55 million shares to cover overallotments. The company expects its Class A-1 common stock to be listed on the New York Stock Exchange under the symbol "JAN."

Janus Living plans to use net proceeds from the offering to pursue acquisition and investment opportunities and for general corporate purposes. The company owns senior housing communities across the United States.

After completion of the IPO, Healthpeak will own approximately 214.7 million shares of Janus Living Class A-1 common stock and common units, representing about 85.3% economic interest in Janus Living, or 83.4% if the underwriters' option is fully exercised.

BofA Securities and J.P. Morgan serve as lead book-running managers for the offering. Wells Fargo Securities, Barclays, Goldman Sachs & Co. LLC, RBC Capital Markets, and Morgan Stanley are acting as bookrunners.

The registration statement has been filed with the SEC but has not yet been declared effective. Securities cannot be sold until the SEC declares the registration statement effective.

Healthpeak Properties is a real estate investment trust and S&P 500 company that owns and develops healthcare-focused real estate.

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