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STAAR Surgical Announces Pricing Of Common Stock Offering

  • 2007-04-26
  • Press release

MONROVIA, Calif., April 26 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA), a developer, manufacturer and marketer of implantable lenses and related ophthalmic products, today announced the pricing of an underwritten public offering of 3,130,435 million shares of its common stock at a price to the public of $5.00 per share. The gross proceeds of the offering, before deducting underwriting commissions and estimated offering expenses, are expected to be approximately $15.65 million. All shares of the common stock offered by STAAR are being sold pursuant to a shelf registration statement that was declared effective by the U.S. Securities and Exchange Commission on August 8, 2006. The underwriter has agreed to purchase the shares from STAAR pursuant to an underwriting agreement, subject to customary closing conditions. STAAR has also granted the underwriter in the offering an option to purchase up to an additional 469,565 shares of its common stock to cover over-allotments, if any. The offering is expected to close on May 1, 2007.

Pacific Growth Equities, LLC acted as the sole underwriter for this offering. Copies of the prospectus supplement and base prospectus relating to the offering may be obtained from Pacific Growth Equities, LLC, One Bush Street, Suite 1700, San Francisco, CA 94104.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

The offering of these shares of common stock may be made only by means of a prospectus supplement to the prospectus contained in the shelf registration statement, which is also called the base prospectus. Such prospectus supplement, which incorporates the base prospectus, will be filed with the SEC, and be available on the SEC's website at http://www.sec.gov.

Contact: Douglas Sherk, 415-896-6820,Jennifer Saunders, 646-201-5431, or Jennifer Beugelmans, 646-201-5447.

SOURCE  STAAR Surgical Company
    -0-                             04/26/2007
    /CONTACT:  Douglas Sherk, 415-896-6820,Jennifer Saunders, 646-201-5431, or
Jennifer Beugelmans, 646-201-5447/
    /Web site:  http://www.staar.com/
    (STAA)

CO:  STAAR Surgical Company
ST:  California
IN:  HEA MTC
SU:  OFR

JL
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5835 04/26/2007 09:29 EDT http://www.prnewswire.com