Business
STAAR Surgical Publishes Presentation Highlighting Compelling, Certain Cash Value Offered by Alcon Merger and Meaningful Downside Risks if Alcon Merger is not Approved
Proposed Merger Represents a Compelling 59% Premium to the 90-Day VWAP Prior to Announcement STAAR’s Business Risks and Challenges are Increasing and
About this update from Staar Surgical Company
[{"type":"text","content":"\nProposed Merger Represents a Compelling 59% Premium to the 90-Day VWAP Prior to Announcement\n\n\nSTAAR’s Business Risks and Challenges are Increasing and Competition is Intensifying\n\n\nChina Net Sales, which Represent Approximately Half of STAAR’s Consolidated Net Sales, Have Declined Since 2023, and Procedure Volumes Remain Weak\n\n\nBroadwood Partners’ Claims Against the Merger are Flawed and Misleading and Reflect a Misunderstanding of STAAR’s Standalone Challenges, Value, and Potential Buyer Interest in STAAR\n\n\nSTAAR’s Stock Traded at $18.49 per Share Prior to Announcement – If the Merger is not Approved, STAAR Expects its Valuation Would Face Considerable Downward Pressure, Especially in Light of Intensifying Competition and Increased Business Risks\n\n\nAll STAAR Stockholders Encouraged to Vote “FOR” Alcon Merger on the WHITE Proxy Card\n\n\n LAKE FOREST, Calif.--(BUSINESS WIRE)--\nSTAAR Surgical Company (NASDAQ: STAA), the global leader in phakic IOLs with the EVO family of Implantable Collamer® Lenses (EVO ICL™) for vision correction, today published a presentation reviewing the compelling, certain, premium cash value offered by the Company’s pending merger with Alcon (SIX/NYSE: ALC) and the meaningful downside risks for STAAR stockholders if the Alcon merger is not approved. The presentation is available at investors.staar.com and has been filed with the U.S. Securities and Exchange Commission.\n\n\nSTAAR also announced that the Company’s second largest active stockholder, Soleus Capital Master Fund, L.P. (“Soleus Capital”), has informed the Board that it is supportive of the merger and intends to vote in favor absent a material change in circumstances. As of the record date, Soleus Capital owned approximately 6% of STAAR’s outstanding shares. \n\n\nOn behalf of the STAAR Board of Directors, Stephen Farrell, CEO of STAAR, said:\n\n\n“We have talked with many STAAR stockholders and analysts over the past weeks who are supportive of the Alcon merger and recognize the compelling value it provides, which is why we are confident that the majority of our stockholders will vote “FOR” the Alcon merger. We thank our stockholders for their support.\n\n\n“Entry into the Alcon merger agreement followed more than a year of consideration by STAAR’s Board of strategic alternatives available to STAAR. Indeed, the Board met over...