Guardian Pharmacy slides as shareholders look to cut stake in secondary offering

Guardian Pharmacy Services

21/05/2025 15:44

** Shares of Guardian Pharmacy Services GRDN.N plunge as much as 18.1%; last down 16.6% at $22.09

** Pharmacy services company late Tuesday announced launch of stock offering of 7.5 million shares

** About 6.1 million shares are being offered by certain selling stockholders and ~1.4 million newly issued shares being offered by GRDN

** Selling stockholders include investment firms Bindley Capital and Cardinal Equity

** GRDN will use the proceeds from the offering to repurchase shares from certain stockholders

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

** Private equity-backed GRDN went public last year after 8-million-share IPO priced at $14

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

** As of last close, GRDN shares up 30.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

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