Janus Living, Inc. completed a public equity offering that raised a total of $966 million through the sale of Class A-1 common stock, the company and Healthpeak Properties, Inc. disclosed in a joint statement. The firm sold 48.3 million shares at $20 apiece, and the underwriters exercised their option in full to purchase an additional 6.3 million shares.
Trading in the newly issued shares commenced on the New York Stock Exchange on March 20, 2026, with the shares listed under the symbol JAN. Net of underwriting discounts and estimated offering expenses, Janus Living recorded approximately $878 million in proceeds from the deal.
The company said the net proceeds are expected to be used for acquiring and investing in opportunities that satisfy Janus Living's investment criteria, and for general corporate purposes. The firm did not provide additional detail in the statement about specific targets or a timetable for those investments.
Bank of America Securities and J.P. Morgan acted as lead book-running managers for the transaction. A syndicate of other firms participated as bookrunners, including Wells Fargo Securities, Barclays, Goldman Sachs & Co. LLC, RBC Capital Markets, and Morgan Stanley.
The offering was carried out through a registration statement on Form S-11 that the Securities and Exchange Commission declared effective. Janus Living operates as a senior housing real estate investment trust with communities across the United States. Healthpeak Properties, which participated in the announcement, is a healthcare-focused REIT and an S&P 500 company.
The completed transaction represents a material capital raise for Janus Living intended to support future acquisitions and corporate needs. The use of proceeds is framed as contingent on finding investments that meet the company's stated criteria.
Clear summary
Janus Living sold 48.3 million Class A-1 shares at $20 each, including a 6.3 million share exercise by underwriters, generating gross proceeds of $966 million and netting about $878 million after fees and expenses. The shares began trading on the NYSE on March 20, 2026 under the ticker JAN. Proceeds are earmarked for qualifying acquisitions, investments, and general corporate purposes. The offering was managed by major investment banks and completed under an SEC-declared effective Form S-11 registration statement.