Shoulder Innovations Seeks $105M IPO on NYSE Listing

Shoulder Innovations, a medical-technology company based in Grand Rapids, Michigan, has filed for an initial public offering (IPO) to raise up to $105 million by selling 5 million shares priced between $19 and $21 each. The company has granted underwriters a 30-day option to purchase an additional 750,000 shares to cover over-allotments. At the midpoint price of $20 per share, Shoulder Innovations expects net proceeds of approximately $88 million, or about $102 million if the over-allotment option is exercised. Following the IPO, the company would have nearly 20.7 million shares outstanding, valuing it at over $413 million. The proceeds from the offering are intended to fund the expansion of its sales force, enhance commercial leadership, and support further research and development efforts. Shoulder Innovations focuses on advanced implant systems for shoulder arthroplasty and plans to list its shares on the New York Stock Exchange under the symbol SI.