Company: STAA
Filing Date: 2025-08-29
Form Type: PREM14A
Source: 0001193125-25-192889
Chunk: 58

Company: STAAR SURGICAL CO
Filing Date: 2025-08-29
Form: PREM14A
Chunk 58
---
 Mr. Endicott met in-person, along with members of STAAR management and members of Alcon management, to discuss STAAR’s business and outlook. Following the
discussions, Mr. Endicott told Mr. Frinzi that Alcon remained interested in a transaction with STAAR, but that Alcon’s proposed valuation was lower than the April Offer, and that Alcon was now willing to acquire 100% of the issued
and outstanding shares of STAAR common stock for $55.00 in cash plus a contingent value right that would pay up to $7.00 upon the achievement of certain milestones (the “October 7 Offer”). On October 11, 2024, the trading price of
STAAR common stock closed at $31.61 per share.

On October 13, 2024, the Board held a meeting to discuss the standalone value
creation opportunity available to STAAR, as well as the risks of continuing to operate as an independent company, including macroeconomic headwinds and other challenges that could impact STAAR’s business. Among other things, the Board
considered the potential value creation opportunity from STAAR’s research and development efforts, including expected timing and impact of new product introductions, and the continued uncertainty regarding demand for STAAR’s products in
China. In addition, the Board considered strategic alternatives that may be reasonably available to STAAR, including the value that potentially could be achieved in a sale of STAAR, and the potential benefits and risks involved in a transaction. As
part of that discussion, Mr. Sisitsky provided an overview of the fiduciary duties of the Board under Delaware law. The Board determined that further evaluation was warranted to consider the risks and opportunities of an acquisition by Alcon
relative to STAAR’s standalone prospects and other strategic alternatives that might be available to STAAR, and accordingly directed STAAR’s management to do additional analysis on the risks and benefits of remaining as a standalone
company compared to a potential sale of STAAR.

On October 22, 2024, the Board held a meeting to further discuss STAAR’s
standalone prospects and consider potential strategic alternatives, including whether to proceed with further diligence and negotiations with Alcon. Following discussions, the Board determined that Alcon’s proposal merited further
consideration and directed management to engage with Citi to prepare a preliminary financial analysis of STAAR to assist with the Board’s consideration of potential strategic alternatives.

On October 28, 2024, the Board