Shoulder Innovations announced the closing of two new credit facilities for an aggregate amount of up to $50 million. The new credit facilities consist of a $15 million growth capital term loan, fully funded at closing to refinance the company’s existing credit facility, and a $30 million undrawn line of credit, with an additional $5 million accordion feature available upon the company’s request, subject to certain conditions.
“This refinancing represents an important step in strengthening our financial foundation as we continue to rapidly scale Shoulder Innovations,” said Jeff Points, Chief Financial Officer. “The new credit facility 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. We are pleased to partner with Stifel Venture Banking, whose platform and resources are well suited to support our needs today and to grow with us over time.”
Shoulder Innovations announced the closing of two new credit facilities for an aggregate amount of up to $50 million. The new credit facilities consist of a $15 million growth capital term loan, fully funded at closing to refinance the company's existing credit facility, and a $30 million undrawn line of credit, with an additional $5 million...
Shoulder Innovations announced the closing of two new credit facilities for an aggregate amount of up to $50 million. The new credit facilities consist of a $15 million growth capital term loan, fully funded at closing to refinance the company’s existing credit facility, and a $30 million undrawn line of credit, with an additional $5 million accordion feature available upon the company’s request, subject to certain conditions.
“This refinancing represents an important step in strengthening our financial foundation as we continue to rapidly scale Shoulder Innovations,” said Jeff Points, Chief Financial Officer. “The new credit facility 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. We are pleased to partner with Stifel Venture Banking, whose platform and resources are well suited to support our needs today and to grow with us over time.”
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