LENSAR® And PDL BioPharma Complete Strategic Financial Restructuring Of LENSAR

ORLANDO, Fla., and INCLINE VILLAGE, Nev., May 11, 2017 /PRNewswire/ — LENSAR, Inc. (LENSAR), a global leader in next generation femtosecond laser technology for refractive cataract surgery, and PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) today announced the completion of LENSAR’s financial restructuring with a court-approved exit plan finalized on May 11, 2017. As part of the plan, PDL will convert most of its debt to an equity ownership position. LENSAR will become a wholly-owned subsidiary of PDL, and PDL will begin to consolidate LENSAR’s financial statements.
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