Company: STAA
Filing Date: 2025-12-10
Form Type: DEFA14A
Source: 0001193125-25-314435
Chunk: 11

Company: STAAR SURGICAL CO
Filing Date: 2025-12-10
Form: DEFA14A
Chunk 11
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 the Board, with one director dissenting, approved the entry into the Second Amendment subject to Alcon agreeing on the methodology used to determine the exchange ratio discussed at the meeting, and determined to recommend the adoption of the amended Merger Agreement by STAAR’s stockholders at the Special Meeting. The Board members voting in favor of such approval and recommendation noted the considerations summarized above, including the opposition of certain stockholders to the Merger, and acknowledged the Board’s obligation to obtain the highest value reasonably obtainable for all stockholders. They expressed the view that the proposed $30.75 per share in Merger Consideration reflected an increase in price of approximately 9.8% from $28.00 per share, which resulted in greater value to all STAAR stockholders, and approved the Second Amendment. The dissenting director expressed the view that the revised considerations contemplated by the Second Amendment, including a less than 10% price improvement, did not sufficiently address STAAR stockholders’ previously expressed concerns regarding the transaction, including concerns about the sale process and the go-shop.

On the evening of December 8, 2025, representatives of Wachtell Lipton sent representatives of Gibson Dunn a revised draft of the Second Amendment, which, among other things, reflected the exchange ratio discussed at the December 8, 2025 Board meeting.

Thereafter, the parties executed the Second Amendment on December 9, 2025. Before the opening of financial markets in New York on December 9, 2025, Alcon issued a press release that disclosed the entry into the Second Amendment, and STAAR filed with the SEC a Current Report on Form 8-K that disclosed the entry into the Second Amendment and included the Second Amendment as an exhibit.

The following section is added at the end of the section titled “Recommendation of the Board and Reasons for the Merger” beginning on page 48 of the proxy statement:

On December 8, 2025, the Board approved the Second Amendment after careful consideration and deliberation and determined that the Merger Agreement and the transactions contemplated thereby, as amended by the Amendments, including the Merger, are advisable, fair to and in the best interests of STAAR and its stockholders, approved, adopted and declared advisable the execution and delivery of, and entry into, the Second Amendment, and directed that the Merger Agreement be submitted to the STAAR stockholders for adoption at the Special Meeting.

In evaluating the Second Amendment, the Board consulted with and received the advice of legal advisors