Shoulder Innovations, Inc. (SI), which sells an advanced implant system for shoulder repair, priced its IPO at $15.00 – a shocking $5.00 below the mid-point of its $19.00-to-$21.00 price range – and sold 5.0 million shares – the number of shares in the prospectus – to raise $75.0 million on Wednesday night, July 30, 2025. In its NYSE debut, Shoulder Innovations’ stock opened at $15.60 – up 60 cents – in late morning trading on Thursday, July 31, 2025. The stock kept rising to its session high at that point of $17.33 – up $2.33 – at about 11:39 a.m. EDT. Volume at around noon was slightly more than 157,000 shares. By around 1 p.m. EDT, Shoulder Innovations’ stock had cooled off to $15.75 – up 75 cents for a 5 percent gain from its IPO price. Volume at that point was about 881,330 shares.
Shoulder Innovations’ stock ended at $15.05 – up just 5 cents – on its first day of NYSE trading (Thursday, July 31st) on volume of about 1.81 million shares. Its range for the day went from $14.70 to $17.60.
Morgan Stanley, Goldman Sachs, Piper Sandler and Jefferies were the joint book-runners.
At pricing, Shoulder Innovations had a market cap of $298.8 million.
Shoulder Innovations (SI Proposed), based in Grand Rapids, Michigan, is a commercial-stage MedTech company that offers prosthetic implants for shoulder arthroplasty to reconstruct the shoulder joint, according to the prospectus. The company was founded in 2009.
The shoulder implant company is not profitable, according to the prospectus. Shoulder Innovations reported a net loss of $16.7 million on revenue of $34.5 million for the 12 months that ended March 31, 2025.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and the rating is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.