<SEC-DOCUMENT>0001213900-25-092516.txt : 20250926
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<ACCEPTANCE-DATETIME>20250926184316
ACCESSION NUMBER:		0001213900-25-092516
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250926
DATE AS OF CHANGE:		20250926

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STAAR SURGICAL CO
		CENTRAL INDEX KEY:			0000718937
		STANDARD INDUSTRIAL CLASSIFICATION:	OPHTHALMIC GOODS [3851]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				953797439
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1227

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-36017
		FILM NUMBER:		251351745

	BUSINESS ADDRESS:	
		STREET 1:		1911 WALKER AVE
		CITY:			MONROVIA
		STATE:			CA
		ZIP:			91016
		BUSINESS PHONE:		6263037902

	MAIL ADDRESS:	
		STREET 1:		1911 WALKER AVE
		CITY:			MONROVIA
		STATE:			CA
		ZIP:			91016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STAAR SURGICAL COMPANY
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWOOD PARTNERS, L.P.
		CENTRAL INDEX KEY:			0001278386
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		BROADWOOD CAPITAL INC.
		STREET 2:		156 WEST 56TH STREET, 3RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-508-5735

	MAIL ADDRESS:	
		STREET 1:		BROADWOOD CAPITAL INC.
		STREET 2:		156 WEST 56TH STREET, 3RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADWOOD PARTNERS LP
		DATE OF NAME CHANGE:	20040202
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        <commentContent>Box 11 - Does not include 2,532 Shares over which Mr. LeBuhn does not have direct or indirect beneficial ownership. Such shares are held in three separate irrevocable trusts for Mr. LeBuhn's daughters in which Mr. LeBuhn has no voting or dispositive power and disclaims any beneficial ownership interest in such shares.</commentContent>
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        <reportingPersonName>Jason J. Martin</reportingPersonName>
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    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.01 per share</securityTitle>
        <issuerName>STAAR SURGICAL CO</issuerName>
        <issuerPrincipalAddress>
          <com:street1>25510 Commercentre Drive</com:street1>
          <com:city>Lake Forest</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92630</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>This Amendment No. 38 to the Schedule 13D ("Amendment No. 38"), amends and supplements the statement on Schedule 13D filed with the U.S. Securities and Exchange Commission (the "SEC") on October 12, 2004, (the "Original Schedule 13D," as amended, the "Schedule 13D") with respect to shares of common stock, par value $0.01 per share (the "Shares") of STAAR Surgical Company (the "Issuer"). Capitalized terms used but not otherwise defined in this Amendment No. 38 have the meanings set forth in the Schedule 13D.</commentText>
      </item1>
      <item4>
        <transactionPurpose>Item 4 is hereby amended and supplemented by the addition of the following:

On September 24, 2025, the Reporting Persons filed a definitive proxy statement (the "Definitive Proxy Statement") and accompanying GREEN Proxy Card with the SEC to solicit proxies for the purpose of voting "AGAINST" the Proposed Merger in connection with the Merger Agreement at the Special Meeting. At the Special Meeting, the Reporting Persons will oppose stockholder approval of the (i) Merger Agreement Proposal and (ii) Compensation Proposal. Details of the Merger Agreement Proposal, including information about the Reporting Persons reasons for opposing the Proposed Merger, can be found in the Definitive Proxy Statement, which is available at no charge on the SEC's website at http://www.sec.gov.

Also on September 24, 2025, the Reporting Persons issued a press release, containing a letter to stockholders of the Issuer (the "September 24 Letter"). In the September 24 Letter, the Reporting Persons announced the launch of their campaign website, www.LetSTAARShine.com, and stated that, in their view, the Proposed Merger is a suboptimal transaction because it was (i) agreed to at an inopportune time, (ii) the result of a flawed process and (iii) influenced by a conflicted Board and management team.

The foregoing description of the September 24 Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the September 24 Letter, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The Reporting Persons are asking stockholders to vote on their GREEN Proxy Card "AGAINST" the Merger Agreement Proposal and "AGAINST" the Compensation Proposal.</transactionPurpose>
      </item4>
      <item7>
        <filedExhibits>Item 7 is hereby amended and supplemented to add the following exhibit:

99.1  September 24 Letter.</filedExhibits>
      </item7>
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        <signatureReportingPerson>BROADWOOD PARTNERS, L.P.</signatureReportingPerson>
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          <signature>/s/ Neal C. Bradsher</signature>
          <title>Neal C. Bradsher, President of Broadwood Capital, Inc.</title>
          <date>09/26/2025</date>
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          <date>09/26/2025</date>
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          <date>09/26/2025</date>
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<TYPE>EX-99.1
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<DESCRIPTION>SEPTEMBER 24 LETTER
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt; text-align: left">Broadwood Capital, Inc.</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">September 24, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Dear Fellow STAAR Surgical Stockholders,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Broadwood Partners, L.P. and
its affiliates (collectively, &ldquo;Broadwood,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo;) have been committed investors
in, and strong supporters of, STAAR Surgical Company (&ldquo;STAAR&rdquo; or the &ldquo;Company&rdquo;) for more than thirty years. We
provided needed capital to the Company on various occasions and purchased a substantial number of additional shares over time in the public
markets, including as recently as a few months ago. Today, we beneficially own approximately 27.5% of STAAR&rsquo;s outstanding shares,
making us the Company&rsquo;s largest stockholder by a significant margin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We initially invested in STAAR,
and have added to our position over time, because we believe STAAR&rsquo;s EVO Implantable Collamer&reg; Lens technology is ideally positioned
to emerge as the superior choice for surgeons and patients in the global refractive surgery market. Leading ophthalmologists increasingly
share this opinion, as has been illustrated by published studies around the world and presentations at recent major ophthalmology conferences.
We believe STAAR can capture this multi-billion-dollar market opportunity and drive sustainable, profitable growth and long-term value.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><U>Inopportune Timing</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Admittedly, STAAR&rsquo;s path
as a public company has not always been smooth. Since 2022, macroeconomic headwinds affected the growth of the refractive surgery market.
Additionally, under prior leadership, STAAR executed poorly in China, causing STAAR&rsquo;s revenue to temporarily decline and profits
to evaporate. However, as STAAR and some of its customers have recently acknowledged, these issues are abating. The Company is now forecasting
a return to growth and profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Given the foreseeable turnaround
in STAAR&rsquo;s prospects, we are disappointed that STAAR&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) decided to sell the Company
now, and especially at a price that does not reflect the value and future promise of the business. In our view, the acquisition (the &ldquo;Proposed
Merger&rdquo;) of the Company by Alcon would prematurely end STAAR&rsquo;s tenure in the public markets at a woefully inadequate price
and before the Company realizes its immense potential.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">In our view, STAAR remains a
fundamentally sound company, with nearly $200 million in cash, no debt, leading technology, a privileged position in large markets, and
a clear path to growth and profit margin expansion in the near term. We do not believe there was any imperative for the Board to sell
the Company amid a temporarily strained macroeconomic environment, particularly while STAAR&rsquo;s stock was trading at a depressed valuation
due to transitory issues in one of its markets. And there certainly was no imperative for the Board to do so before disclosing the substantial
turnaround in the Company&rsquo;s prospects in its second- quarter earnings report, as well as management&rsquo;s financial projections.
These projections, which were only released when STAAR filed its preliminary proxy statement, were well above the consensus of analysts&rsquo;
estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">156 West 56<SUP>th</SUP> Street,
3<SUP>rd</SUP> Floor, New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">Tel: 212 508-5735 Fax: 212 508-5756</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><U>A Flawed Process</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Even more troubling, the Board
made the consequential decision to sell the Company following a hasty and limited process, which took place in less than a month and did
not involve proactive outreach to even a single alternative counterparty. STAAR granted Alcon the privileged position of being the only
party with access to diligence materials and management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&mdash; perhaps because STAAR&rsquo;s
Chair had a longstanding consulting relationship with Alcon, one that paid her hundreds of thousands of dollars over a seven-year period
and which, as best we can tell, was not discussed with her fellow Board members until we insisted on it, just days before the transaction
was announced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Board should have realized
that parties other than the Board&rsquo;s seemingly preferred buyer, Alcon, would be interested in acquiring the Company. In fact, as
the Company itself has disclosed, at least two potential counterparties took it upon themselves to contact an unconflicted STAAR Board
member to express their interest in acquiring STAAR <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>during the same month
</I></FONT>that STAAR was engaging with Alcon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">And yet, the Board took the lead
of its Chair and effectively shunned the inbound interest (and did not attempt to foster other interest), did not provide those two parties
with diligence materials or access to management, and did not invite them to submit a concrete proposal until <U>just hours before the
Merger Agreement with Alcon was signed</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">There is simply no way to know
how many other parties might have been interested, nor what these alternative potential bidders (and others) might have proposed, if only
the Board had bothered to engage properly. The hurried and limited &ldquo;window shop&rdquo; period is no substitute for a well-run strategic
alternatives process &mdash; even though it may provide the Board the fig leaf of fiduciary duty protection under the law. It is simply
a fact that very few alternative proposals have ever been made during &ldquo;window shop&rdquo; periods in the history of M&amp;A practice.
By our count, just 10 such proposals in the last 25 years have succeeded. The truth is, even interested parties are deterred from attempting
to break up signed transactions due to the procedural and legal hurdles they would have to overcome, a feat made all the more challenging
when the signed deal is seemingly with a board&rsquo;s preferred merger partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">In short, we do not believe
that the Board&rsquo;s &ldquo;process&rdquo; &mdash; negotiating with just one party while effectively ignoring interest from others &mdash;
was designed or was likely to produce the best available offer, and the highest price, for the Company. We are confident that a properly
conducted process, one that canvassed the full universe of potential buyers, would have uncovered interest from others, stoked competitive
tension, and resulted in a price that reflects STAAR&rsquo;s intrinsic value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The competitive tension alone
created by a fulsome process might have led to a better deal. After all, less than a year ago, Alcon itself proposed to buy STAAR for
$62 per share. STAAR&rsquo;s business outlook today is <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>stronger </I></FONT>than
it was then, even if the stock was trading lower prior to the announcement of the Proposed Merger. Notably, the stock was trading lower
without knowledge of the second-quarter business results and management&rsquo;s projections for strong revenue growth and profitability,
which were disclosed only after the announcement of the Proposed Merger; those results and projections showed an abatement of the inventory
challenges the Company had faced in 2024 and early 2025 and a significant reduction in expenses. <U>But with no other bidders in the process
and no competitive tension, Alcon was, in our view, not forced to put its best proposal forward; the result &mdash; a 55% decrease in
the proposed price compared to Alcon&rsquo;s proposed deal in late October 2024 &mdash; speaks for itself</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">156 West 56<SUP>th</SUP> Street,
3<SUP>rd</SUP> Floor, New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">Tel: 212 508-5735 Fax: 212 508-5756</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><U></U></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><U>A Conflicted Board and Management
Team</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We are concerned that the otherwise
inexplicable decision to sell the Company at an obviously inopportune time, after a limited and questionable process and at an inadequate
price, was influenced by the Board&rsquo;s numerous business entanglements with Alcon and management&rsquo;s personal financial interests.
The Chair of the Board was a consultant to Alcon when the dialogue with Alcon began, while two other directors at that time had significant
business interests with Alcon. As best we can tell from the proxy disclosure, it was not until our firm raised the conflict-of-interest
issue with STAAR&rsquo;s CEO that the Chair revealed the extent of her business ties with Alcon to her fellow directors, and that was
just two days before the Merger Agreement was signed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.05pt">Moreover,
in the aggregate, STAAR&rsquo;s executives are poised to earn approximately $55 million in immediate compensation if the deal is closed.
The Company&rsquo;s CEO alone stands to receive approximately $24 million in compensation, due to the Board&rsquo;s decisions that accelerate
the vesting of his stock grants and award payouts well above target performance levels. While directionally aligned with the Company&rsquo;s
recent and above-consensus projections, the awarding of compensation at these levels certainly belies the strategic alarmism in the Company&rsquo;s
proxy solicitation materials. For the CEO, the Proposed Merger provides a significant and riskless windfall for just five months of work.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><U>A Suboptimal Transaction</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">It is clear to us that the Proposed
Merger is the result of poor timing, a flawed process, and conflicts of interest. We are not surprised, then, that another of the Company&rsquo;s
largest stockholders, Yunqi Capital Ltd., owner of 5.1% of the outstanding shares, is also publicly opposing the transaction. The unjustifiably
low purchase price reflects, in our view, temporary investor pessimism resulting from the Company&rsquo;s past challenges. But we do not
believe these challenges are insurmountable, nor do we believe they are likely to persist. We are convinced that STAAR can, and should,
deliver value to stockholders far in excess of the $28 per share that Alcon is offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Now is the time to keep our eyes
focused on the future and reject a short-sighted deal. Accordingly, we urge stockholders to vote &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>AGAINST</B></FONT>&rdquo;
the Proposed Merger today using the instructions on the enclosed <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>GREEN </B></FONT>Proxy
Card. Should stockholders reject the Proposed Merger, as we believe they should, we are prepared to support the Company with the recruiting
and nomination of new directors and executives, if necessary, to ensure that the Company fulfills its promise to shine for all patients,
employees, business partners and stockholders. An objective and comprehensive strategic review should be task one.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We encourage you to read the
enclosed materials and to visit our website, www.LetSTAARShine.com<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">,</FONT>
for additional information about this transaction and to sign up for further updates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">STAAR has a bright future. Let&rsquo;s let it shine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 40%">Sincerely,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify">/s/ Neal Bradsher</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Neal Bradsher Founder and President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Broadwood Capital, Inc., General Partner of Broadwood Partners,
L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">156 West 56<SUP>th</SUP> Street,
3<SUP>rd</SUP> Floor, New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">Tel: 212 508-5735 Fax: 212 508-5756</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9pt 0pt 1pt; text-indent: -0.05pt">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Certain Information Concerning
the Participants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Broadwood Partners, L.P., Broadwood Capital,
Inc., Neal C. Bradsher, Richard T. LeBuhn, Natalie R. Capasso, Raymond A. Myers and Jason J. Martin (collectively, the
&ldquo;Participants&rdquo;) are participants in the solicitation of proxies from the stockholders of the Company in connection with
the special meeting of stockholders scheduled for October 23, 2025 (including any adjournments, postponements, reschedulings or
continuations thereof, the &ldquo;Special Meeting&rdquo;). The Participants have filed a definitive proxy statement on Schedule 14A
(the &ldquo;Definitive Proxy Statement&rdquo;) and accompanying <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>GREEN</B></FONT>
Proxy Card to be used in connection with any such solicitation of proxies from the Company&rsquo;s stockholders for the Special
Meeting. <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS HAVE FILED OR WILL FILE
WITH THE SEC BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE SPECIAL
MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR
OTHERWISE</B></FONT>. The Definitive Proxy Statement and accompanying <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>GREEN</B></FONT>
Proxy Card have been furnished to some or all of the Company&rsquo;s stockholders and will be, along with other relevant documents,
available at no charge on the SEC&rsquo;s website at https://www.sec.gov/.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Information about the Participants
and a description of their direct or indirect interests, by security holdings or otherwise, is contained in the Definitive Proxy Statement
filed by the Participants with the SEC on September 24, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">Investor Contacts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">John Ferguson / Joseph Mills</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Saratoga Proxy Consulting LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">jferguson@saratogaproxy.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">jmills@saratogaproxy.com</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(212) 257-1311</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(888) 368-0379</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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