Company: STAA
Filing Date: 2025-10-15
Form Type: DFAN14A
Source: 0001213900-25-099192
Chunk: 3

Company: STAAR SURGICAL CO
Filing Date: 2025-10-15
Form: DFAN14A
Chunk 3
---
 company’s Q2 2025 earnings included results that were                                                                    
 better than consensus expectations, and the company disclosed positive developments regarding its inventory issues in China.” |

| ● | “… [T]he positioning of announcement immediately prior to                  
 disclosure of Q2 earnings may have limited the board’s negotiating power…” |

The Wrong Process

| ● | “… [T]here are valid reasons for shareholders to question                                                                               
 whether the wider board was fully informed of potential interest [from parties other than Alcon]. These considerations are particularly 
 troubling, as the board chair had a preexisting business relationship with the acquirer that concluded less than a year before the deal 
 was announced. These facts alone could prompt a shareholder to consider rejecting the offer.”                                           |

| ● | “… [I]t is challenging to fully reconcile [STAAR’s]                                                         
 financial condition with the board’s view that the company would not have garnered interest from PE firms…” |

| ● | “… [T]he board’s decision to forgo an auction process                                                                                          
 is a cause for concern, since investors lack market-based evidence that the deal presented in fact represents the best available alternative.” |

| ● | “… [T]here has been an abrupt shift in the company’s                                                   
 messaging about its standalone prospects that does not appear to be supported by recent developments.” |

The Wrong Price

| ● | “… [I]t is important to recognize that the company is working                                                                          
 through the issues that led to its share price collapse … [T]he results of these efforts have seemingly been more positive             
 than negative since announcement of the transaction. Thus, it would not be unreasonable for shareholders that believe in the company’s 
 turnaround prospects to place more emphasis on the company’s historical trading range as an anchor for value.”                         |

| ● | “[Alcon’s offer] … represents a 30.6 percent discount 
 to the 52-week high closing price of $40.36...”       |

Broadwood continues to urge shareholders to use the GREEN
Proxy Card to vote “AGAINST” the Proposed Merger and to review its presentation, its proxy materials, and its
press releases, all of which are available at www.LetSTAARShine.com.

| 1 | Permission to use quotes neither sought nor obtained. Emphasis 
 added.                                                         |

About Broadwood

Broadwood Partners, L.P. is managed by Broadwood
Capital, Inc. Broadwood Capital is a private investment firm based in New York City. Neal C.