Guardian Pharmacy falls after shareholders trim stake in public offering

Guardian Pharmacy Services

23/05/2025 16:07

** Guardian Pharmacy Services' GRDN.N shares fall as much as 4.8%; last down 3.6% at $21.78

** Pharmacy services firm late Thursday announced pricing of its stock offering of 7.5 million shares at $21 apiece

** Offering priced at 7% discount to stock's last close

** Selling stockholders including Bindley Capital and Pharmacy Investors parted way with ~6.1 million shares in offering

** GRDN sold ~1.4 million shares in offering, whose proceeds were used to repurchase shares from certain selling shareholders in the offering

** Stock closed 2.4% higher on Thursday, after plunging 16.8% on Wednesday when GRDN unveiled the stock offering

** Raymond James was the lead book-running manager of offering

** All two brokerages covering stock rate "buy"; median PT $28 - data compiled by LSEG

** As of last close, GRDN stock up 11.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))