Janus Living IPO upsized

Janus Living’s shares were set at $20 each, producing an implied equity value of roughly $5.1 billion based on the company’s outstanding shares. (bloomberg.com) The offering consists of 37,000,000 Class A‑1 shares with a 30‑day overallotment option for up to 5,550,000 additional shares. (businesswire.com) After the deal, Healthpeak is slated to hold about 214,734,000 shares, representing roughly an 85.3% economic interest (about 83.4% if the underwriters’ option is fully exercised). (businesswire.com) Institutional “cornerstone” commitments of about $300 million have been indicated by investors including CenterSquare Investment Management, DWS Group, MFS Investment Management and PGIM. (propmodo.com) BofA Securities and J.P. Morgan are the lead book‑running managers on the deal, joined by Wells Fargo Securities, Barclays, Goldman Sachs, RBC Capital Markets and Morgan Stanley as bookrunners. (businesswire.com) Janus is bringing a concentrated portfolio of 34 senior‑housing communities (about 10,422 units, with Florida and Texas making up roughly 69% of holdings) to the public markets and expects to list on the NYSE under the symbol “JAN,” with pricing scheduled after the market close on Thursday. (propmodo.com)