Yunqi Capital urges STAAR shareholders to oppose Alcon merger

Yunqi Capital Limited, an investment management firm and 5.1% shareholder of STAAR Surgical Company (STAA), released the following open letter reiterating its opposition to the proposed sale to Alcon Inc. (ALC) on the terms announced on August 5, 2025. “After reviewing the recent public communications from STAAR, including STAAR’s investor presentation issued on September 26, 2025, titled “Alcon Merger Maximizes Value for Stockholders – STAAR Surgical – September 2025” (the “STAAR Investor Presentation”) and its two press releases of October 6, 2025, we feel compelled to reiterate our opposition to the proposed sale to Alcon,” Yunqi said. “Shareholders deserve better. We believe the Company is significantly underestimating the strength of its business – particularly with respect to its performance and outlook in its largest market, China. Several of our views on certain of these critical issues are shared by Broadwood Partners in its investor presentation issued on October 2, 2025, titled “The Wrong Time, Wrong Process and Wrong Price.” As an investor in STAAR that has met with the Company’s Board and management several times over the past years to share our insights on the Chinese market and how the Company can drive future growth, we believe that many statements in the Company’s presentation may distort shareholders’ appreciation of STAAR’s actual long-term value. The China market is recovering, STAAR has the trusted products and established sales channels to capitalize on this large and growing opportunity, and Alcon’s bid for STAAR is clearly opportunistic.”