An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
class a-1 common stockfinancial
Class A-1 common stock is a specific type of ordinary share in a company whose exact voting power, dividend rights and transfer rules are set out in the company’s charter. It represents an ownership stake but may carry different rights than other share classes, so two shares with different labels are not always equal. For investors it matters because the share class determines how much influence you have, what income you may receive and how easily you can sell—think of it like different membership tiers that grant varying levels of access and benefits.
book-running managersfinancial
Book-running managers are the main banks or financial firms that organize and oversee a company's sale of new stocks or bonds. They help set the price, decide how many to sell, and coordinate the process to make sure everything runs smoothly. Their role is important because they guide the company through the complex process of raising money from investors.
prospectusregulatory
A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.
registration statement on form s-11regulatory
A registration statement on Form S-11 is a detailed disclosure document filed with the U.S. Securities and Exchange Commission when certain real estate companies or similar issuers offer securities to the public. It lays out the company’s business, properties, financial statements, risks, and the terms of the offering — like a product label or instruction sheet — so investors can judge the investment’s nature and safety before deciding to buy.
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DENVER--(BUSINESS WIRE)--
Healthpeak Properties, Inc. (NYSE: DOC) (“Healthpeak”) and Janus Living, Inc. (NYSE: JAN) (“Janus Living”) announced today that Janus Living has completed its initial public offering of 48,300,000 shares of its Class A-1 common stock, which includes the exercise in full by the underwriters of their option to purchase up to an additional 6,300,000 shares of Class A-1 common stock, at a price to the public of $20.00 per share.
Shares of Janus Living’s Class A-1 common stock began trading on the New York Stock Exchange on March 20, 2026 under the ticker symbol “JAN.”
The net proceeds from the offering were approximately $878 million, after deducting the underwriting discount and estimated expenses payable by Janus Living. Janus Living expects to use the net proceeds received from the offering to pursue acquisition and investment opportunities that meet its investment criteria and for general corporate purposes.
BofA Securities and J.P. Morgan acted as lead book-running managers for the offering. Wells Fargo Securities, Barclays, Goldman Sachs & Co. LLC, RBC Capital Markets, and Morgan Stanley acted as bookrunners for the offering. BNP PARIBAS, Credit Agricole CIB, KeyBanc Capital Markets, PNC Capital Markets LLC, Scotiabank, TD Securities, and Truist Securities acted as senior co-managers for the offering. BTIG, Capital One Securities, Huntington Capital Markets, M&T Securities, Raymond James, Regions Securities LLC, Santander, and SMBC Nikko acted as co-managers for the offering.
The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email to dg.prospectus_requests@bofa.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.
A registration statement on Form S-11, including a prospectus, relating to these securities has been declared effective by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT HEALTHPEAK PROPERTIES
Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates and develops high-quality real estate focused on healthcare discovery and delivery.
ABOUT JANUS LIVING
Janus Living, Inc. is a pure-play senior housing real estate investment trust (REIT) that owns high-quality communities across the United States that support residents with thoughtfully designed, highly amenitized environments.
