Janus Living (JAN) said Monday it launched a public offering of 25 million shares of class A-1 common stock.
Underwriters are expected to be granted a 30-day option to purchase up to about 3.8 million additional shares.
The senior housing-focused REIT said it plans to use the net proceeds to pursue acquisition and investment opportunities that meet its criteria, as well as for general corporate purposes.
Shares of the company fell more than 4% in recent premarket activity Monday.
Price: $25.54, Change: $-1.23, Percent Change: -4.59%