GRDN Guardian Pharmacy Services, Inc.

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Executive Summary

Guardian Pharmacy Services, Inc. entered into the Eighth Amendment to its Loan and Security Agreement, extending the revolving credit facility maturity from April 23, 2027 to May 21, 2030 and maintaining $40M in revolving commitments. The amendment also permits up to $40M in incremental term loans or revolver increases (total potential capacity $80M), replaces the leverage covenant with a net leverage ratio, and updates the borrower entity to reflect Guardian Pharmacy Services, Inc. as the public company borrower.

Key Financial Metrics

Actionable Insight

Key Facts

• Eighth Amendment effective May 21, 2026; maturity extended to May 21, 2030.
• Existing revolving commitments remain $40 million; incremental capacity up to $40 million (total potential $80 million).
• New consolidated net leverage ratio covenant replaces prior leverage ratio; max 3.00x (or 3.50x after a material acquisition).
• Term Loan A and Sixth Amendment Term Loan A fully repaid as of the Eighth Amendment effective date.
• Lenders: Regions Bank, Bank of America, Huntington National Bank.
• Loan remains secured by substantially all assets of the borrower and guarantors.

Financial Impact

$40M existing revolver, up to $40M incremental capacity (total $80M); Term Loan A fully repaid.

Risk Factors

• Incremental capacity of $40M may lead to increased leverage if fully drawn for acquisitions.
• New net leverage ratio covenant at 3.00x could constrain future debt-financed acquisitions if EBITDA does not grow proportionally.
• Replacement of borrower entity reflects corporate restructuring post-IPO; documentation changes could introduce complexity in future amendments.

Market Snapshot

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

US Market Status