Shoulder Innovations, which offers advanced implant systems for shoulder arthroplasty, announced terms for its IPO on Thursday.
The Grand Rapids, MI-based company plans to raise $100 million by offering 5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Shoulder Innovations would command a fully diluted market value of $434 million.
Shoulder Innovations is a commercial-stage medical technology company that currently offers advanced implant systems for shoulder arthroplasty. Its "ecosystem" is comprised of these systems, as well as enabling technologies, efficient instrument systems, specialized support, and surgeon-to-surgeon collaboration.
Shoulder Innovations was founded in 2009 and booked $35 million in revenue for the 12 months ended March 31, 2025. It plans to list on the NYSE under the symbol SI. Morgan Stanley, Goldman Sachs, Piper Sandler, and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of July 28, 2025.
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