Stock of Guardian Pharmacy Services, Inc. (GRDN) is dropping about 3 percent on Thursday morning trading following the announcement of pricing of its upsized underwritten public offering of 6 million shares at $31.00 per share.
The company's stock is currently trading at $32.67, down 3.74 percent or $1.27, over the previous close of $33.91 on the New York Stock Exchange. It has traded between $19.17 and $37.43 in the past one year.
The company intends to use the proceeds to repurchase 1.020 million shares from certain stockholders, at a purchase price per share equal to the public offering price in the offering, less the underwriting discount. The offering is expected to close on March 20, 2026.
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