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Shoulder Innovations Closes Up to $50 Million Credit Facility
Shoulder Innovations (SI) said Monday it closed two new credit facilities totaling up to $50 million.The facilities comprise a fully funded $15 million term loan to refinance the company's existing credit facility and a $30 million undrawn line of credit, with an additional $5 million accordion feature available subject to certain conditions, the company said.The term loan is interest-only through June 30, 2029, and matures in June 2031, while the line of credit matures in June 2029.Shares of Shoulder Innovations were down nearly 7% in late Monday afternoon trading.Price: $21.26, Change: $-1.53, Percent Change: -6.71%
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