Company: STAA
Filing Date: 2025-08-29
Form Type: PREM14A
Source: 0001193125-25-192889
Chunk: 64

Company: STAAR SURGICAL CO
Filing Date: 2025-08-29
Form: PREM14A
Chunk 64
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 (iii) reduce operational costs, including through reductions to employee headcounts, (iv) continue to advance STAAR’s research and development and to obtain new and expanded regulatory approvals for STAAR ICLs
and (v) seek to grow STAAR’s share in geographies outside of China.

From January 5, 2025 through the end of April 2025,
there were occasional communications between Alcon and STAAR, including communications about industry trends and developments, but no substantive discussions regarding a possible strategic transaction.

On April 24, 2025, Louis Silverman was appointed to the Board. Also on April 24, 2025, STAAR announced that Aimee Weisner had chosen
not to stand for re-election to the Board when her term expired at STAAR’s 2025 annual meeting of stockholders in June. Ms. Weisner’s decision not to stand for
re-election was not due to any disagreement with STAAR on any matters relating to STAAR’s operations, policies or practices.

On April 26, 2025, Mr. Farrell, STAAR’s recently appointed CEO, had an introductory meeting with Mr. Endicott in person
in Los Angeles, California in connection with their attendance at an industry meeting. During this meeting, Mr. Endicott expressed interest in pursuing a potential transaction, and he discussed the merits of a combination of Alcon and STAAR.
Mr. Farrell indicated that management and the Board were focused on executing on STAAR’s standalone business plan. He reported on this introductory meeting to other members of the Board.

On May 7, 2025, STAAR issued a press release disclosing its financial results for the quarter ended March 28, 2025. Among other
things, STAAR reported (i) net sales of $42.6 million, down approximately 45% year over year due to planned reduction of channel inventory in China, (ii) reduced gross margin of 65.8% compared to 78.9% during the same period in the
prior year due to intentional reduction in U.S. production volumes and readiness for manufacturing in Switzerland, (iii) net loss of $(54.2) million compared to $(3.3) million during the same period in the prior year and (iv) spend
reductions related to facilities, marketing and staff. STAAR also announced that it was withdrawing the financial guidance it previously provided on February 11, 2025, in light of economic