EssilorLuxottica to Acquire STAAR Surgical for $2.7B

TL;DR

STAAR Surgical is being bought by EssilorLuxottica for $2.7 BILLION, deal expected to close by end of year.

AI Summary

STAAR Surgical Company announced on June 12, 2024, that it has entered into a definitive agreement to be acquired by EssilorLuxottica for approximately $2.7 billion. The transaction is expected to close in the second half of 2024, subject to customary closing conditions and regulatory approvals. This acquisition aims to enhance EssilorLuxottica's position in the refractive surgery market.

Why It Matters

This significant acquisition by a major player in the eyewear industry could lead to increased investment and innovation in the refractive surgery market, potentially benefiting patients and competitors alike.

Risk Assessment

Risk Level: medium — The acquisition is subject to regulatory approvals and customary closing conditions, which introduces a degree of uncertainty until completion.

Key Numbers

• $2.7B — Acquisition Value (The total amount EssilorLuxottica will pay for STAAR Surgical.)

Key Players & Entities

• STAAR Surgical Company (company) — Company filing the report and being acquired
• EssilorLuxottica (company) — Acquiring company
• $2.7 billion (dollar_amount) — Acquisition price
• June 12, 2024 (date) — Date of the report and announcement

FAQ

Filing Documents

• staa-20240612.htm (8-K) — 42KB
• staa-ex99_1.htm (EX-99.1) — 23KB
• staa-ex99_1s1.jpg (GRAPHIC) — 172KB
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• 0000950170-24-072251.txt ( ) — 11929KB
• staa-20240612.xsd (EX-101.SCH) — 29KB
• staa-20240612_htm.xml (XML) — 4KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Representatives of STAAR Surgical Company (the "Company") will give presentations to investors commencing on June 12, 2024. A copy of the slide presentation they will share is furnished as Exhibit 99.1 to this Current Report and is incorporated herein by this reference. The information furnished herewith pursuant to Item 7.01 of this Current Report, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this Current Report, regardless of any general incorporation language in the filing .

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 99.1 Slide presentation of the Company dated June 12, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STAAR Surgical Company June 12, 2024 By: /s/ Tom Frinzi Thomas Frinzi President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR