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STAAR Surgical Signs Definitive Agreement to Sell 4,100,000 Shares of Common Stock

  • 2005-04-01
  • Press release

MONROVIA, Calif., April 1, 2005 /PRNewswire-FirstCall via COMTEX/ -- STAAR Surgical Company (Nasdaq: STAA) today announced that it has entered into a definitive agreement to sell 4,100,000 shares of newly issued common stock at a purchase price of $3.50 per share to certain institutional investors. The transaction is expected to close on or about April 5, 2005, subject to customary closing conditions. Pacific Growth Equities, LLC acted as the placement agent for the financing.

The securities sold have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from registration. STAAR Surgical has agreed to file, no later than 15 business days after the closing a registration statement providing for the resale of the common stock.

This release is not an offer to sell, or a solicitation of an offer to buy securities, nor shall there be any sale of the company's securities in any state in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state.

About STAAR Surgical

STAAR Surgical is a leader in the development, manufacture and marketing of minimally invasive ophthalmic products employing proprietary technologies. STAAR's products are used by ophthalmic surgeons to improve the vision of patients.

Safe Harbor

All statements in this news release that are not statements of historical fact are forward-looking statements, including the statement that the offering is expected to close on or about April 5, 2005. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the ability of the Company and the investors to comply with certain conditions to closing as set forth in the definitive agreements. STAAR Surgical Company assumes no obligation to update these forward-looking statements, and does not intend to do so.

Contacts:
     Investors
     EVC Group
     Douglas Sherk, 415-652-9100
     Jennifer Beugelmans 415-896-6817

     Media
     EVC Group
     Chris Toth, 415-896-2005

SOURCE STAAR Surgical Company

investors, Douglas Sherk, +1-415-652-9100, Jennifer Beugelmans, +1-415-896-6817, or
media, Chris Toth, +1-415-896-2005, all of EVC Group, for STAAR Surgical Company
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