Guardian Pharmacy Services Announces Launch of Initial Public Offering

ATLANTA--(BUSINESS WIRE)--Guardian Pharmacy Services, Inc. ("Guardian") today announced the launch of its underwritten initial public offering of 6,750,000 shares of its Class A common stock pursuant to a registration statement filed with the U.S. Securities and Exchange Commission (the "SEC"). Guardian expects to grant the underwriters in the offering a 30-day overallotment option to purchase up to an additional 1,012,500 shares of Class A common stock at the initial public offering price, less the underwriting discount. The estimated initial public offering price is between $14.00 and $16.00. Guardian has been approved to list its shares on the New York Stock Exchange ("NYSE") under the symbol "GRDN."

Raymond James is acting as the lead bookrunning manager of the offering and as representative of the underwriters for the proposed offering. Stephens Inc. and Truist Securities are acting as joint bookrunning managers for the proposed offering.

A registration statement on Form S-1 relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering can be obtained from: Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863, or by email at [email protected].

About Guardian Pharmacy Services

Guardian Pharmacy Services is a leading long-term care pharmacy services company that provides an extensive suite of technology-enabled services designed to help residents of long-term health care facilities ("LTCFs") adhere to their appropriate drug regimen, which in turn helps reduce the cost of care and improve clinical outcomes. As of June 30, 2024, our 50 pharmacies served approximately 174,000 residents in approximately 6,700 LTCFs across 36 states.

Forward-Looking Statements

This press release contains forward-looking statements regarding the proposed initial public offering. Forward-looking statements include all statements that are not historical facts. Words such as "may," "will," "could," "would," "should," "anticipate," "propose," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are often, but not always, used to identify these forward-looking statements. These forward-looking statements include any statements regarding the proposed issuance and sale, and anticipated listing on NYSE, of Guardian's Class A common stock, and statements regarding the size and expected price range of the initial public offering. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described under "Risk Factors" in Guardian's registration statement on Form S-1 relating to the offering. Except as required by law, Guardian has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

Contacts

[email protected]