US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Janus has gained roughly 53% from its $20 IPO price and nearly 30% from its $23.50 first trade, remaining within striking distance of its $32.83 high.</li>
<li>Second-Quarter results showed 45% revenue growth, 40% adjusted FFO-per-share growth and 19.2% same-store adjusted NOI growth.</li>
<li>The company has aggressively deployed IPO and follow-on capital, completing approximately $1.8 billion of acquisitions through August 3.</li>
</ul>


Janus has gained roughly 53% from its $20 IPO price and nearly 30% from its $23.50 first trade, remaining within striking distance of its $32.83 high.
Second-Quarter results showed 45% revenue growth, 40% adjusted FFO-per-share growth and 19.2% same-store adjusted NOI growth.
The company has aggressively deployed IPO and follow-on capital, completing approximately $1.8 billion of acquisitions through August 3.


Janus Living Inc (JAN): Post 180 Days, Senior Housing REIT Thesis Is Working

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

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<li>
<a href="https://www.smartkarma.com/entities/janus-living-inc" target="_blank" data-smartkarma-citation="entities:47580:1" rel="noopener">Janus Living (JAN US)</a> went public on 20 March on NYSE and has a current market cap of $6bn.</li>
<li>Inclusion in US indices is expected in June 2026, as the security meets US eligibility criteria.</li>
<li>Inclusion in Global SmallCap is expected in August, while the security may fail the floatcap threshold for the other Global index.</li>
</ul>



Janus Living (JAN US) went public on 20 March on NYSE and has a current market cap of $6bn.
Inclusion in US indices is expected in June 2026, as the security meets US eligibility criteria.
Inclusion in Global SmallCap is expected in August, while the security may fail the floatcap threshold for the other Global index.


Janus Living (JAN US): Post-IPO Inclusion in US & Global Indices

Get Ahead with IPO Insights, IPO Prophet

IPO Prophet

Get Ahead with IPO Insights

At IPO Prophet®, our team leverages over three decades of expertise to deliver actionable quantitative analytics for the IPO market in real-time. This platform synthesizes our extensive experience investing in IPOs, providing investors with revolutionary tools to navigate the complexities of issuance day. Our mission is to empower investors with data-driven insights to make more informed decisions.

<ul><li>Janus Living Inc. ($JAN) made its public market debut on March 20, 2026, pricing at $20.00 per share and opening strongly at $23.50, representing a +17.5% premium to the IPO price as investors initially leaned into the senior housing platform story.</li><li>The company raised approximately $840 million through the sale of 42 million shares at the top end of the $18–$20 range , entering the market with solid institutional support and early upside momentum.</li><li>Trading throughout the session reflected a balanced price discovery process.</li></ul>

Janus Living Inc. ($JAN) made its public market debut on March 20, 2026, pricing at $20.00 per share and opening strongly at $23.50, representing a +17.5% premium to the IPO price as investors initially leaned into the senior housing platform story.The company raised approximately $840 million through the sale of 42 million shares at the top end of the $18–$20 range , entering the market with solid institutional support and early upside momentum.Trading throughout the session reflected a balanced price discovery process.

Janus Living Opens Strong, Holds Premium as IPO Prophet Signals Navigate Day-One Price Discovery

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<li>Janus Living Inc priced at the high-end of its range and rose 18% on debut, closing at $23.60 after opening at $23.50.</li>
<li>Deal was double-digit oversubscribed, with concentrated allocations to top investors and strong participation from REIT-focused, long-only accounts.</li>
<li>Unique 100% RIDEA structure and senior housing focus drove strong demand amid favorable demographic trends and discounted valuation versus peers.</li>
</ul>


Janus Living Inc priced at the high-end of its range and rose 18% on debut, closing at $23.60 after opening at $23.50.
Deal was double-digit oversubscribed, with concentrated allocations to top investors and strong participation from REIT-focused, long-only accounts.
Unique 100% RIDEA structure and senior housing focus drove strong demand amid favorable demographic trends and discounted valuation versus peers.


Janus Living Inc (JAN): Senior Housing REIT Janus Living Shines in Solo IPO Week

<ul>
<li>Janus Living Inc is a unique, pure-play senior housing REIT with 100% RIDEA exposure, launching a $4.5B–$5.0B IPO with strong institutional demand.</li>
<li>Cornerstone investors, including CenterSquare Investment Management and PGIM, anchor over 40% of the deal.</li>
<li>Portfolio includes 34 communities (10,422 units), with significant exposure to life plan communities offering stable occupancy and predictable long-term cash flows.</li>
</ul>


Janus Living Inc is a unique, pure-play senior housing REIT with 100% RIDEA exposure, launching a $4.5B–$5.0B IPO with strong institutional demand.
Cornerstone investors, including CenterSquare Investment Management and PGIM, anchor over 40% of the deal.
Portfolio includes 34 communities (10,422 units), with significant exposure to life plan communities offering stable occupancy and predictable long-term cash flows.


Janus Living Inc (JAN): A Pure-Play IPO on Senior Housing Draws Strong Demand, Attractive Valuation

United States

Janus Living, Inc. is a newly formed, specialized senior housing real estate investment trust (REIT) spun off from Healthpeak Properties in early 2026 to focus on high-growth, RIDEA-structured senior housing properties.

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Janus Living (JAN US)

Janus Living Inc (JAN): Post 180 Days, Senior Housing REIT Thesis Is Working

The stock has climbed steadily, the portfolio has expanded rapidly and operating results have strengthened, while investor appetite for senior...

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