Guardian Pharmacy Services (GRDN) said late Tuesday it has launched an underwritten public offering of 7.5 million Class A shares, with Raymond James as lead bookrunning manager.

The issue comprises of about 6.1 million shares from some stockholders and around 1.4 million newly issued shares as part of a non-dilutive "synthetic secondary" transaction, the firm said.

The company said the offering is considered non-dilutive as it plans to use the proceeds to repurchase from some stockholders a number of shares equal to the number of shares Guardian sold in the offering.

The selling stockholders plan to grant underwriters a 30-day option to purchase up to about 1.1 million additional shares.

Shares were down over 6% in after-hours trading.