Company: STAA
Filing Date: 2025-09-16
Form Type: DEFM14A
Source: 0001193125-25-204396
Chunk: 69

Company: STAAR SURGICAL CO
Filing Date: 2025-09-16
Form: DEFM14A
Chunk 69
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 not support an acquisition of STAAR.

On July 16, 2025, the Board held
a meeting to discuss the potential transaction with Alcon as well as Mr. Farrell’s discussions with Broadwood. Members of management and the Board provided their perspectives on the merits and risks of engaging in further discussions with
Alcon or seeking a higher price from Alcon, including the risk of Alcon withdrawing its offer, as it had done in January 2025, and depriving STAAR’s stockholders of the opportunity to realize the premium offered in the July 12 Offer. The
Board also discussed the risks of proceeding with a potential transaction if Broadwood was not supportive, in light of the requirement that the merger with Alcon would need to be approved by holders of a majority of outstanding shares of STAAR
common stock (and not only an approval by holders of a majority of the shares present at the meeting of STAAR’s stockholders). Following discussions, the Board directed STAAR’s management to again seek a higher purchase price from Alcon.

On July 17, 2025, Mr. Farrell called Mr. Endicott, indicating that the Board believed that a higher value was
required before continuing with discussions. Also on July 17, 2025, representatives of Citi contacted representatives of Morgan Stanley to convey the same message. Alcon declined to offer a higher value.

On July 18, 2025, the Board held a meeting to discuss whether to continue further negotiations with Alcon and to discuss
Mr. Farrell’s interactions with Broadwood. Members of management and the Board provided their perspectives on the merits and risks of engaging in further negotiations with Alcon. Among other things, the Board discussed the potential of
Alcon making a public offer for STAAR and the potential benefits to STAAR and its stockholders of a negotiated transaction. The Board also discussed the risks of proceeding with a potential transaction if Broadwood did not support it, the likelihood
of obtaining stockholder approval of a transaction with Alcon, and the costs and risks associated with a transaction with Alcon that was not eventually consummated. Further, the Board discussed that STAAR’s other stockholders would likely be
supportive of a transaction with such a significant, certain premium and that it did not want to deprive all stockholders of an ability to consider such a transaction, and that stockholders would only have an opportunity to consider the transaction
if it were submitted to STAAR’s stockholders. In addition,