Shoulder Innovations, Inc. (NYSE: SI) announced the closing of two new credit facilities totaling up to $50 million with Stifel Venture Banking, according to a press release dated June 29, 2026.

The facilities consist of a $15 million growth capital term loan, fully funded at closing, and a $30 million undrawn line of credit, with an additional $5 million accordion feature available upon request and subject to certain conditions.

The $15 million term loan was used to refinance the company's existing credit facility, with the transaction resulting in no additional net indebtedness at close. No warrants were included in the agreement.

The term loan carries an annual interest rate equal to the greater of 0.75% below the prime rate or 5.00%, and is interest-only through June 30, 2029, maturing in June 2031. The line of credit carries an annual interest rate equal to the greater of the prime rate or 5.00%, and matures in June 2029.

Chief Financial Officer Jeff Points said the refinancing "significantly improves the economics of our existing debt structure, provides additional financial flexibility, and better aligns our lender relationships with the current stage of our business."

Shoulder Innovations said it will file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission containing additional details about the transaction.