Company: STAA
Filing Date: 2025-10-30
Form Type: DEFA14A
Source: 0001193125-25-258558
Chunk: 30

Company: STAAR SURGICAL CO
Filing Date: 2025-10-30
Form: DEFA14A
Chunk 30
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 values for STAAR as of December 31, 2030 by applying a selected range of revenue
exit multiples of 2.5x to 6.5x,selected based on Citi’s professional judgement, to an estimate of STAAR revenue in the terminal year based on the Projections. The unlevered free cash flows and the range of terminal
values were then discounted to present values, as of June 27, 2025, using mid-year discounting convention and discount rates ranging from 13.4% to 14.6%,derived from a weighted average cost of capital calculation, to derive ranges of implied enterprise value for STAAR. To the range of implied enterprise values it derived for STAAR, Citi added STAAR’s net cash of $185 million as of June 27,
2025, and added a range of present values of STAAR’s tax benefits from Federal net operating losses carry forwardsof approximately $29million and divided the results by
the diluted common stock share count of STAAR calculated using the treasury stock method, based on equity information as of July 30, 2025 as provided by STAAR management. The range of present values of STAAR’s tax benefits from Federal
net operating losses carry forwards was calculated by discounting to present values, as of June 27, 2025, estimates of STAAR’s tax benefits from Federal net operating losses carry forwards, as provided in the Projections, using mid-year discounting convention and discount rates ranging from 13.4% to 14.6%. This analysis indicated an approximate implied per share equity value reference range for STAAR
of $17.70 to $37.50, as compared to the closing share price of the STAAR common stock as of August 1, 2025, of $17.76, and the Merger Consideration of $28.00.

The section titled “—Discounted Equity Research Analyst Price Targets” on page 57 of the proxy statement is hereby amended and supplemented as follows:

Citi reviewed the most recent publicly available research
analysts’ one-year forward price targets for STAAR common stock prepared and published byselectedten research analysts. Citi noted that as
of August 1, 2025, such price targets ranged from $13.00 to $27.00 for STAAR common stockwith a median price target of $19.00. Citi also noted that these ranges of price targets, discounted one year at an estimated