STAAR Surgical Company filings document the regulatory record for a NASDAQ-listed ophthalmic device company focused on phakic IOLs and the EVO family of Implantable Collamer® Lenses. Its reports and exhibits cover operating results, preliminary sales disclosures, shareholder letters, product and market commentary, and clinical or regulatory matters tied to lens-based vision correction.
Recent filings also address proxy and governance disclosure, shareholder voting matters, board and committee composition, director independence, executive appointments and separation arrangements, material agreements, capital-structure disclosure for common stock, and the termination of a previously disclosed merger agreement.
Broadwood Partners filed additional proxy materials (DFAN14A) regarding STAAR Surgical Company, attaching a press release and updated website, and urging stockholders to vote “AGAINST” the proposed acquisition by Alcon at the virtual Special Meeting on October 23, 2025 at 8:30 a.m. Pacific Time.
Broadwood states that leading proxy advisory firms ISS, Glass Lewis, and Egan‑Jones have been cited in support of its position, and notes that shareholders representing more than 34% of STAAR’s outstanding common shares have publicly opposed the transaction. Materials, including the definitive proxy statement and GREEN Proxy Card, are available on the SEC’s website and at Broadwood’s campaign site.
STAAR Surgical Company reported that it issued a press release with preliminary net sales results for the quarter ended September 26, 2025. The press release is furnished as Exhibit 99.1 to this report.
This update is an early look at sales performance for the most recent quarter and directs readers to the attached exhibit for specific figures and details.
Broadwood Partners, the largest shareholder of STAAR Surgical Company, has filed additional proxy materials urging investors to vote against STAAR’s proposed sale to Alcon Inc. Broadwood, which reports owning 27.5% of STAAR’s outstanding common shares, is soliciting votes on its GREEN proxy card for the special shareholder meeting scheduled for October 23, 2025.
In an open letter to STAAR’s board, Broadwood criticizes the sale process and the price agreed with Alcon and calls on the board to hold the vote as scheduled and to respect the outcome. The materials highlight that all three major proxy advisory firms have recommended that shareholders vote against the Alcon transaction and direct shareholders to Broadwood’s campaign website, LetSTAARShine.com, for further information and resources on how to vote.
Broadwood Partners filed additional proxy materials urging STAAR Surgical stockholders to vote “AGAINST” the proposed acquisition by Alcon at the special meeting on October 23, 2025. The filing attaches a press release and website update and notes that all three major proxy advisory firms—ISS, Glass Lewis, and Egan‑Jones—recommend voting against the deal on the GREEN Proxy Card.
Broadwood states that shareholders representing more than 34% of STAAR’s outstanding common shares have publicly opposed the transaction. The materials direct stockholders to review the definitive proxy statement and related documents available on the SEC’s website and Broadwood’s campaign site, LetSTAARShine.com.
Broadwood Partners, L.P. has filed additional proxy solicitation materials urging shareholders of STAAR Surgical Company to use its GREEN proxy card to vote against the proposed acquisition of STAAR by Alcon Inc. at the special meeting on October 23, 2025.
Broadwood, which reports owning 27.5% of STAAR’s outstanding common stock, criticizes what it describes as a late and troubling disclosure about an April outreach from another strategic buyer. Broadwood asserts that STAAR’s CEO and Board Chair did not inform the full board or shareholders of this alternative interest when recommending the Alcon transaction and characterizes this as a serious failure of transparency. Broadwood directs shareholders to its website and prior filings for more detail.
STAAR Surgical (STAA) filed an 8-K supplementing its proxy for the proposed merger with Alcon at $28.00 per share. The company disclosed that it will provide additional proxy information ahead of the October 23, 2025 special meeting to adopt the Merger Agreement.
STAAR summarized recent process details and market checks, noting outreach from potential parties and that no competing proposals emerged during the 45-day window shop period ending September 19, 2025. It also highlighted investor positions disclosed since announcement, including Broadwood’s reported 27.3% beneficial ownership and stated opposition, Yunqi’s approximately 5.1% opposition, and support from Soleus at roughly 6%.
The filing adds valuation context from Citi’s analyses: a selected companies EV/2026E revenue range implying about $16.35–$23.80 per share, selected precedent transactions implying about $17.15–$30.80, and a discounted cash flow range of about $17.70–$37.50, each compared with the $28.00 merger consideration.
Broadwood Partners and affiliated participants are soliciting STAAR Surgical Company stockholders to vote against the proposed $28-per-share sale of STAAR to Alcon at a special meeting scheduled for October 23, 2025.
Broadwood (owning 27.5%), allied holders including Yunqi (~5.1%) and Defender Capital (~1.5%), plus a Glass Lewis recommendation against the transaction, are cited in the proxy materials. The activists allege timing, process, conflict, and valuation problems and highlight management’s two disclosed 2027 EBITDA projections of $142 million (July diligence) and $113 million (August bank-used projection).
STAAR Surgical Co. proxy materials criticize the board’s sale process and value choice for a proposed transaction announced one day before 2Q25 results. The filing argues the board limited market price discovery and did not meaningfully solicit competing bids, citing inbound interest from multiple parties and narrow outreach to the acquirer. Financially, the filing notes STAAR is described as "financially stable" with management projections for a rebound as early as 2026. The submission calculates the deal implies an NTM revenue multiple of 4.56x, below comparable healthcare equipment precedents (median 5.1x, mean 6.2x) and below STAAR’s unaffected 3‑ and 5‑year average NTM multiples of 5.6x and 10.7x. It flags a potential total golden parachute of $23.7M, including a $6.8M tax gross‑up for Mr. Farrell.
STAAR Surgical is facing intensified shareholder opposition to its proposed sale to Alcon. Broadwood Partners and other participants in a proxy campaign have updated materials for a special meeting on October 23, 2025, highlighting an open letter from 5.1% shareholder Yunqi Capital.
Yunqi argues the Alcon deal undervalues STAAR, contending recent revenue declines stem mainly from temporary distributor inventory issues in China and elevated U.S. operating expenses, rather than structural weakness. The letter cites recovering Chinese GDP, regulatory approval of the EVO+ ICL in China, and data showing growing penetration into moderate myopia as support for STAAR’s long-term growth potential.
Yunqi also points to significant projected merger-related payouts to STAAR executives, including about $24 million for the CEO, as creating misaligned incentives, and proposes cost cuts, China distribution changes, and potential buybacks as ways to increase standalone value. Yunqi urges shareholders to vote against the Alcon transaction.