STAAR Surgical Completes Common Stoc... ( MONROVIA Calif. June 17 /- STAAR Surg...)

STAAR Surgical Completes Common Stock Offering

Date:6/17/2009

MONROVIA, Calif., June 17 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA), a developer, manufacturer and marketer of implantable lenses and related ophthalmic products, today announced the completion of a registered direct offering of 4,255,319 shares of its common stock, at a price of $1.88 per share, which was the closing market price on June 16, 2009. The net proceeds will be approximately $8.0 million because the Company did not use an underwriter for this transaction. This transaction was funded by unanimous participation among STAAR's largest shareholders, demonstrating continued investor support for the Company and its technology.

STAAR intends to use the proceeds to fund a deposit with the court to secure a stay of enforcement of the judgment pending STAAR's appeal in the Parallax Medical Systems, Inc. litigation. The current temporary stay in the case expires on June 22, 2009. All shares of common stock offered by STAAR were sold pursuant to a shelf registration statement that was declared effective by the U.S. Securities and Exchange Commission on June 12, 2009. No other securities were issued in connection with this offering. The offering is expected to close on or about June 17, 2009.

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 and include the Visian ICL, a tiny, flexible lens implanted to correct refractive errors, as well as innovative products designed to improve patient outcomes for cataracts and glaucoma. Manufactured in Switzerland by STAAR, the ICL is approved by the FDA for use in treating myopia, has received CE Marking and is sold in more than 50 countries. Collamer(R) is the brand
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SOURCE STAAR Surgical Company
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