Latham & Watkins Advises Shoulder Innovations in Initial Public Offering

Shoulder Innovations, Inc. (Shoulder Innovations), a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, has announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of US$15 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Shoulder Innovations, are expected to be US$75 million, excluding any exercise of the underwriters' option to purchase additional shares. Shoulder Innovations' common stock began trading on the New York Stock Exchange under the ticker symbol "SI" on July 31, 2025. The offering is expected to close on August 1, 2025, subject to satisfaction of customary closing conditions.

Latham & Watkins LLP represents Shoulder Innovations in the offering with a corporate team led by Orange County/Bay Area partners Shayne Kennedy and Ross McAloon, with associates Ben Winnett, Kennedy Holmes, and Chloe Barr. Advice was also provided on FDA regulatory matters by Washington, D.C. partner Liz Richards, with associates Evan Miller and Christelle Tchaou; on healthcare regulatory matters by Bay Area partner Betty Pang; on tax matters by Chicago partner Joseph Kronsnoble, with associate Valerie Silva Parra; on data privacy matters by Bay Area partner Heather Deixler, with associate Ryleigh Chen; on intellectual property matters by San Diego partner Chris Hazuka and San Diego counsel Robert Yeh, with associate Patrick Chew; and on executive compensation, employment and benefits matters by Los Angeles partner Michelle L.C. Carpenter, with associates Jordan Barnes and Ellie Graham.