Ista raises $40 million

Ophthalmic play ISTA raised $40 million through the sale of common stock and warrants to The Sprout Group; Sanderling Venture Partners; and Investor Growth Capital. The share and warrant price is $0.38, a 31% premium to Wednesday's close at $0.29. Thomas Weisel advised ISTA on the deal. Also, ISTA said it will seek shareholder approval to reverse split the company's shares on a basis ranging from 1-for-7 to 1-for-10. ...