Company: STAA
Filing Date: 2025-09-26
Form Type: DEFA14A
Source: 0001193125-25-219844
Chunk: 11

Company: STAAR SURGICAL CO
Filing Date: 2025-09-26
Form: DEFA14A
Chunk 11
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 superior proposal “Window Shop” Provision Allows for post-signing market check with nominal break-up fees of $14.5M (1%) for certain proposals received during 45-day "window shop" period and $43.4M (3%) for proposals received thereafter No “Naked No Vote” Fee No obligation of STAAR for expense reimbursement or other fee payable to Alcon if STAAR stockholders do not approve the merger Limited Conditionality Provides for limited conditionality, Alcon regulatory commitments, and $72M (5%) break-up fee payable by Alcon to STAAR in certain circumstances due to failure to receive regulatory approvals EXECUTIVE SUMMARY | PREMIUM VALUE | STANDALONE RISKS | THOUGHTFUL EVALUATION | BROADWOOD CLAIMS

Claims by Broadwood Partners are flawed and misleading and reflect a misunderstanding of STAAR’s standalone challenges, value, and potential buyer interest in STAAR. Broadwood believes that STAAR’s near-term prospects will drive a higher stock price and that now is the wrong time to transact. STAAR’s Board and management team understand STAAR’s business risks and challenges better than Broadwood. STAAR believes the $28.00 per share consideration provides STAAR stockholders greater value than STAAR could achieve on a standalone basis in the foreseeable future. Executive Summary Broadwood is asking stockholders to forfeit the all-cash, premium value provided by the Alcon merger and bear STAAR’s significant risks as a standalone company. Claims By Broadwood Partners IV “Deficient Process” STAAR’s Board conducted an extensive review process that considered standalone prospects, the industry landscape, and potential buyers. Merger agreement terms were aggressively negotiated to protect premium value in hand while allowing for a post-signing market check “Wrong Time to Transact” STAAR’s 2Q25 results reflected incremental progress in addressing challenges, but did not signal a return to historical growth or profitability. While some issues in China have been addressed, 2Q25 and 3Q25 trends reinforce STAAR’s Net Sales challenges. There is no “market moving” clinical trial “Inadequate Price” The Alcon merger agreement maximizes value with a compelling price at a significant premium to the price that had been established by an efficient market. Broadwood's claimed value is not supported by STAAR's actual financial performance “Windfall for Executives” Neither STAAR’s Board nor management team changed any component of executive compensation, including change-in-control provisions in connection with the transaction