SCHEDULE: Arboretum Ventures Discloses 5.8% Stake in Shoulder Innovations

Arboretum Ventures VI, L.P. and its affiliates have disclosed a 5.8% beneficial ownership stake in Shoulder Innovations, Inc., totaling 1,163,891 shares.

Summary

• Arboretum Ventures VI, L.P., along with its general partner Arboretum Investment Manager VI, LLC, and managing directors Jan L. Garfinkle, Daniel M. Kidle, and Thomas M. Shehab, have reported beneficial ownership of 1,163,891 shares of Shoulder Innovations, Inc. common stock.
• This ownership represents 5.8% of the company's outstanding common stock.
• The percentage is based on 20,228,510 shares of common stock outstanding as of August 1, 2025, as disclosed in Shoulder Innovations, Inc.'s prospectus dated July 30, 2025.
• All reporting persons share voting and dispositive power over the 1,163,891 shares.
• The reporting persons expressly disclaim status as a 'group' for the purposes of this Schedule 13G.
• The securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, indicating a factual reporting of a significant stake by an institutional investor. It does not contain information that would inherently shift sentiment positively or negatively beyond the fact of the investment itself.

Positives

• A significant institutional investor, Arboretum Ventures, has disclosed a 5.8% beneficial ownership stake, which can be interpreted as a vote of confidence in Shoulder Innovations, Inc.

Future Outlook

NA

Industry Context

This filing indicates a significant investment by a venture capital firm specializing in healthcare, suggesting continued investor interest in the medical device and orthopedic sectors, particularly in companies focused on innovative solutions like shoulder implants.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by a reputable venture capital firm may instill confidence and potentially attract further institutional interest, positively impacting shareholder perception.
• Company Management: The investment signifies external validation of the company's potential and strategic direction.

Key Dates

Keywords

Shoulder Innovations, Arboretum Ventures, Beneficial Ownership, SEC Filing, Common Stock, Institutional Investor, Medical Devices, Orthopedics