Healthpeak Properties and Janus Living Inc. announced that Janus Living has launched an initial public offering of 37 million shares of Class A-1 common stock. The offering is expected to price between $18 and $20 per share.
The company also expects to grant underwriters a 30-day option to purchase up to an additional 5.55 million shares to cover overallotments. Janus Living plans to list its Class A-1 common stock on the New York Stock Exchange under the ticker symbol “JAN.”
Janus Living said it intends to use the net proceeds from the offering to pursue acquisitions and investments that meet its criteria, as well as for general corporate purposes.
Following the offering, Healthpeak is expected to own approximately 214.7 million shares and units of Janus Living, representing about an 85.3 percent economic interest in the company.
BofA Securities and J.P. Morgan are acting as lead book-running managers for the offering.
