{"filing":{"accession_number":"0001699350-26-000044","cik":"0001699350","ticker":"SI","company_name":"SHOULDER INNOVATIONS, INC.","form":"8-K","filing_date":"2026-06-29","report_date":null,"primary_document":"si-20260626.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1699350/000169935026000044/si-20260626.htm"},"events":[{"id":14454,"run_id":12867,"accession_number":"0001699350-26-000044","anchor_item_number":"2.03","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.94,"summary":"Shoulder Innovations closed new credit facilities totaling up to $50 million with Stifel Venture Banking on June 26, 2026, consisting of a $15 million senior secured term loan (fully funded to refinance existing Trinity Capital debt) and a $30 million senior secured revolving facility with a $5 million accordion feature. The refinancing provides materially improved terms including lower interest rates, elimination of warrant obligations, and extended maturity dates (2029 and 2031), significantly strengthening the Company's financial flexibility and debt structure.","company_name":"SHOULDER INNOVATIONS, INC.","ticker":"SI","filing_date":"2026-06-29","form":"8-K","submitted_at":null,"items":[{"id":11895,"accession_number":"0001699350-26-000044","item_number":"1.01","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Shoulder Innovations entered into a Loan and Security Agreement with Stifel Bank on June 26, 2026, creating new direct financial obligations: a $15.0 million senior secured term loan (fully funded at closing) and a $30.0 million senior secured revolving facility. The term loan proceeds were used to refinance and repay existing indebtedness to Trinity Capital Inc., representing a material refinancing of the Company's debt structure with significantly improved terms and additional working capital capacity.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"","ticker":null,"filing_date":""},{"id":11896,"accession_number":"0001699350-26-000044","item_number":"1.02","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"The filing discloses termination of the Trinity Loan Agreement (Item 1.02) and, as detailed in the press release exhibit, the concurrent closing of new credit facilities totaling up to $50 million with Stifel Venture Banking, consisting of a $15 million term loan and a $30 million line of credit. While Item 1.02 focuses on termination, the substance of the disclosure is the refinancing and creation of new direct financial obligations with materially improved terms (lower interest rates, no warrants, extended maturity). This is a material capital event affecting the company's debt structure and financial flexibility.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"","ticker":null,"filing_date":""},{"id":11897,"accession_number":"0001699350-26-000044","item_number":"2.03","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"The filing discloses the closing of two new credit facilities totaling up to $50 million with Stifel Venture Banking, consisting of a $15 million term loan (fully funded to refinance existing debt) and a $30 million line of credit with a $5 million accordion feature. This represents creation of new direct financial obligations under Item 2.03, even though it simultaneously refinances existing debt. The material terms—interest rates, maturity dates (2029 and 2031), and the substantial aggregate amount—are clearly disclosed.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"","ticker":null,"filing_date":""},{"id":11898,"accession_number":"0001699350-26-000044","item_number":"7.01","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.92,"reasoning":"The Company announced the closing of two new credit facilities totaling up to $50 million with Stifel Venture Banking, consisting of a $15 million fully-funded term loan and a $30 million undrawn line of credit (plus $5 million accordion). This represents creation of new direct financial obligations and refinancing of existing debt with improved terms. The press release emphasizes the refinancing strengthens the financial foundation and provides additional financial flexibility, making this a material debt issuance event.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":11895,"accession_number":"0001699350-26-000044","item_number":"1.01","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Shoulder Innovations entered into a Loan and Security Agreement with Stifel Bank on June 26, 2026, creating new direct financial obligations: a $15.0 million senior secured term loan (fully funded at closing) and a $30.0 million senior secured revolving facility. The term loan proceeds were used to refinance and repay existing indebtedness to Trinity Capital Inc., representing a material refinancing of the Company's debt structure with significantly improved terms and additional working capital capacity.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"SHOULDER INNOVATIONS, INC.","ticker":"SI","filing_date":"2026-06-29"},{"id":11896,"accession_number":"0001699350-26-000044","item_number":"1.02","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"The filing discloses termination of the Trinity Loan Agreement (Item 1.02) and, as detailed in the press release exhibit, the concurrent closing of new credit facilities totaling up to $50 million with Stifel Venture Banking, consisting of a $15 million term loan and a $30 million line of credit. While Item 1.02 focuses on termination, the substance of the disclosure is the refinancing and creation of new direct financial obligations with materially improved terms (lower interest rates, no warrants, extended maturity). This is a material capital event affecting the company's debt structure and financial flexibility.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"SHOULDER INNOVATIONS, INC.","ticker":"SI","filing_date":"2026-06-29"},{"id":11897,"accession_number":"0001699350-26-000044","item_number":"2.03","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"The filing discloses the closing of two new credit facilities totaling up to $50 million with Stifel Venture Banking, consisting of a $15 million term loan (fully funded to refinance existing debt) and a $30 million line of credit with a $5 million accordion feature. This represents creation of new direct financial obligations under Item 2.03, even though it simultaneously refinances existing debt. The material terms—interest rates, maturity dates (2029 and 2031), and the substantial aggregate amount—are clearly disclosed.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"SHOULDER INNOVATIONS, INC.","ticker":"SI","filing_date":"2026-06-29"},{"id":11898,"accession_number":"0001699350-26-000044","item_number":"7.01","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.92,"reasoning":"The Company announced the closing of two new credit facilities totaling up to $50 million with Stifel Venture Banking, consisting of a $15 million fully-funded term loan and a $30 million undrawn line of credit (plus $5 million accordion). This represents creation of new direct financial obligations and refinancing of existing debt with improved terms. The press release emphasizes the refinancing strengthens the financial foundation and provides additional financial flexibility, making this a material debt issuance event.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-06-29T11:08:50.266132+00:00","company_name":"SHOULDER INNOVATIONS, INC.","ticker":"SI","filing_date":"2026-06-29"}]}