Shoulder Innovations, which offers advanced implant systems for shoulder arthroplasty, raised $75 million by offering 5 million shares at $15, below the range of $19 to $21.
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 plans to list on the NYSE under the symbol SI. Morgan Stanley, Goldman Sachs, Piper Sandler, and Jefferies acted as joint bookrunners on the deal.
