<DOCUMENT>
<TYPE>424B1
<SEQUENCE>1
<DESCRIPTION>FINAL PROSPECTUS DATED 08/12/1999
<TEXT>
<PAGE>
UNDERWRITING
Subject to the terms and conditions contained in an Underwriting Agreement
dated August 12, 1999, the underwriters named below (the "underwriters"), who
are represented by Donaldson, Lufkin & Jenrette Securities Corporation, Dain
Rauscher Wessels, a division of Dain Rauscher Incorporated, Prudential
Securities Incorporated, and SG Cowen Securities Corporation, have severally
agreed to purchase from us the respective numbers of shares of common stock set
forth opposite their names below:
<TABLE>
<CAPTION>
Number of
Underwriters Shares
<S> <C>
Donaldson, Lufkin & Jenrette Securities Corporation.................. 1,787,500
Dain Rauscher Incorporated........................................... 487,500
Prudential Securities Incorporated................................... 487,500
SG Cowen Securities Corporation...................................... 487,500
Banc of America Securities LLC....................................... 60,000
BancBoston Robertson Stephens........................................ 60,000
A.G. Edwards & Sons, Inc............................................. 60,000
Goldman, Sachs & Co.................................................. 60,000
Hambrecht & Quist LLC................................................ 60,000
PaineWebber Incorporated............................................. 60,000
Warburg Dillon Read Inc.............................................. 60,000
Advest, Inc.......................................................... 30,000
Crowell, Weedon & Co. ............................................... 30,000
C.L. King & Associates, Inc. ........................................ 30,000
McDonald Investments Inc., a KeyCorp Company......................... 30,000
Morgan Keegan & Company, Incorporated................................ 30,000
Nutmeg Securities.................................................... 30,000
Pennsylvania Merchant Group.......................................... 30,000
U.S. Bancorp Piper Jaffray Inc....................................... 30,000
Ryan, Beck & Co. .................................................... 30,000
Sanders Morris Mundy................................................. 30,000
Sutro & Co. Incorporated............................................. 30,000
---------
Total.............................................................. 4,000,000
=========
</TABLE>
45
<PAGE>
The following table shows the underwriting fees we will pay to underwriters
in connection with this offering. These amounts are shown assuming both no
exercise and full exercise of the underwriters' option to purchase additional
shares of our common stock.
<TABLE>
<CAPTION>
Paid by KeraVision
---------------------
No Full
Exercise Exercise
<S> <C> <C>
Per share................................................. $ 0.78 $ 0.78
Total..................................................... $3,120,000 $3,588,000
</TABLE>
We will pay the offering expenses, estimated to be $650,000.
KeraVision will grant to the underwriters an option, exercisable for 30 days
from the date of this prospectus, to purchase up to an additional 600,000
shares of our common stock at the public offering price less the underwriting
fees. The underwriters may exercise their option solely to cover over-
allotments, if any, made in connection with this offering. To the extent that
the underwriters exercise their option, each underwriter will become obligated,
subject to conditions, to purchase a number of additional shares of our common
stock approximately proportionate to that underwriter's initial purchase
commitment.
Each of KeraVision, our executive officers and directors and certain
stockholders have agreed, subject to certain exceptions, not to
. offer, pledge, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase or otherwise transfer or dispose of,
directly or indirectly, any shares of common stock or any securities
convertible into or exercisable or exchangeable for common stock, or
. enter into any swap or other arrangement that transfers all or a portion
of the economic consequences associated with the ownership of any common
stock
for a period of 90 days after the date of this prospectus without the prior
written consent of Donaldson, Lufkin & Jenrette Securities Corporation.
TYPE: EX-99.31
SEQUENCE: 3
DESCRIPTION: NEWS RELEASE DATED 9/2/1999
Exhibit 99.31
KeraVision, Inc. Completes Stock Transaction
FREMONT, CA (September 2, 1999) - KeraVision, Inc. (Nasdaq: KERA), the
vision correction company, said today that it has sold 600,000 shares of
its common stock at a price of $13.00 per share, pursuant to the
exercise by the underwriters of their over-allotment option in
connection with the underwritten offering of KeraVision's common stock.
KeraVision previously sold 4,000,000 shares of its common stock in the
initial closing of the offering on August 17, 1999. The offering was
underwritten by Donaldson, Lufkin & Jenrette; Dain Rauscher Wessels, a
division of Dain Rauscher Inc.; Prudential Vector Healthcare Group, a
unit of Prudential Securities; and SG Cowen.
All of the shares were issued and sold by KeraVision. The net proceeds
of approximately $7,332,000 from the sale of 600,000 shares will be used
by KeraVision for sales and marketing efforts related to the U.S. launch
of Intacs (trademark) corneal ring segments, the continued development
and clinical testing of products based on the Intacs technology,
prepayment of short-term debt and for working capital and other general
corporate purposes.
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