STAAR Surgical Announces Pricing of Public Offering of Common Stock

STAAR Surgical Company STAA, a developer, manufacturer and marketer of implantable lenses and companion delivery systems for the eye, announced today the pricing of the previously announced underwritten public offering of 1,739,000 shares of its common stock, for total gross proceeds of approximately $67,821,000. In addition, STAAR has granted the underwriters of the offering a 30-day option to purchase up to an additional 260,850 shares of its common stock on the same terms and conditions. The closing of the offering is expected to occur on August 10, 2018, subject to customary closing conditions.

STAAR intends to use the net proceeds from the offering to fund its operations, which may include advancing and broadening commercialization of its implantable Collamer® lens (ICL) family of products, funding pipeline research and development activities and clinical trials, funding incremental investments in automation and precision manufacturing, and capital expenditures, such as information systems, and for general corporate purposes, including working capital.

Canaccord Genuity is acting as the sole book-running manager for the offering.

The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sales of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

The shares of common stock described above are being offered pursuant to an effective shelf registration statement (including a prospectus) on Form S-3 previously filed with the Securities and Exchange Commission ("SEC"). A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Before you invest, you should read the prospectus in that registration statement (including the preliminary prospectus supplement for the offering to which this communication relates) and other documents STAAR has filed with the SEC for more complete information about STAAR and the offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, STAAR and Canaccord will arrange to send you copies of the prospectus supplement and accompanying prospectus relating to this offering, if you request it, by contacting Canaccord Genuity LLC, Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, toll-free phone: 1-800-225-6201 or by e-mail at prospectus@canaccordgenuity.com.

Forward-Looking Statements

This news release contains forward-looking statements. These statements include but are not limited to statements regarding the expected closing of the offering and the intended use of the net proceeds from the offering. Forward-looking statements are based on our management's current expectations or beliefs regarding future events or circumstances, and you should not place undue reliance on these statements. Such statements involve known and unknown risks, uncertainties, assumptions and other factors, many of which are out of STAAR's control and difficult to forecast that may cause actual results to differ materially from those that may be described or implied in the forward-looking statements. STAAR cannot be certain that the offering will be completed on the terms discussed above, or at all. For a discussion of certain other risks, uncertainties and other factors affecting the statements contained in this news release, see STAAR's Annual Report on Form 10-K for the year ended December 29, 2017, under the caption "Risk Factors," which is on file with the SEC and available in the "Investor Information" section of STAAR's website under the heading "SEC Filings". Except as required by law, STAAR assumes no, and hereby disclaims any, obligation to update any of the foregoing or any other forward-looking statements. STAAR nonetheless reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this news release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180808005373/en/