Reorganization Plan and Disclosure Statement Filed by LENSAR, Inc.
January 24, 2017 at 05:00 am
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LENSAR, Inc. filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on January 24, 2017. As per the plan filed, Administrative Claims, U.S. Trustee Fees, Professional Fee Claims of $0.83 million and Priority Claims shall be paid in full in cash. PDL Senior Secured Claim of $8.51 million shall receive 60% of the equity of the reorganized debtor, PDL Junior Secured Claim of $40 million shall receive $34.33 million in cash along with 40% of the equity of the reorganized debtor. General Unsecured Claims, including PDL Unsecured Deficiency Claim shall receive cash in full satisfaction in an amount equal to the allowed amount. E-5 Equity Interests, Senior Preferred Equity Interests, Series A Equity Interests and Common Equity Interests shall be cancelled without any distribution under the plan. The plan shall be funded from debtor’s cash in hand and from issuance of new equity.
LENSAR, Inc. is a commercial-stage medical device company. The Company is focused on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. Its product portfolio consists of the LENSAR Laser System and ALLY Adaptive Cataract Treatment System (ALLY System) and its associated consumable components. The system incorporates a range of technologies designed to assist the surgeon in obtaining visual outcomes. The consumable portion of the system consists of a disposable patient interface device kit. The ALLY System is designed to combine its femtosecond laser technology features with enhanced laser capabilities into a single small unit that allows surgeons to perform a femtosecond laser assisted cataract procedure in a single operating room or in-office surgical suite. Its system is used across surgeons, hospital outpatient surgical facilities and ambulatory surgery centers.
LENSAR, INC. 
