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ISTA Pharmaceuticals Completes $36.75 Million Private
Financing
IRVINE, Calif., June 29 /PRNewswire-FirstCall/ -- ISTA
Pharmaceuticals, Inc. (Nasdaq: ISTA), today announced it has
completed a previously announced $36.75 million private
financing through the private placement of 5.25 million shares
of common stock with institutional accredited investors at a
purchase price of $7.00 per share. The Company plans to use the
net proceeds from the private financing for general corporate
purposes, including the funding of its R&D programs, which
currently include the bepotastine, strong steroid, Xibrom and
steroid combination product, and ecabet sodium clinical studies.
The private placement was made only to institutional accredited
investors in accordance with Section 4(2) under the Securities
Act of 1933 and the rules and regulations promulgated thereunder.
The securities sold in the private placement have not been
registered under the Securities Act of 1933 or any state
securities laws and unless so registered may not be offered or
sold in the United States except pursuant to an exemption from,
or in a transaction not subject to, the registration
requirements of the Securities Act of 1933 and applicable state
securities laws. In connection with the private placement, ISTA
has agreed to file a registration statement to register for
resale of the common stock sold in the private placement. This
announcement is neither an offer to sell nor a solicitation of
an offer to buy any of the securities issued in the private
placement.
SOURCE
ISTA Pharmaceuticals, Inc.
06/29/2007
CONTACT
Vince Anido, Ph.D., +1-949-788-5311, vanido @istavision.com; or
Lauren Silvernail, +1-949-788-5302, lsilvernail @istavision.com,
both of ISTA
Pharmaceuticals; Investors: Juliane Snowden, jsnowden
@burnsmc.com, or Nicki
Kahner, nkahner @burnsmc.com; or Media: Jason Farber, jfarber
@burnsmc.com,
or Kristin Faucette, kfaucette @burnsmc.com, all of Burns
McClellan,
+1-212-213-0006, for ISTA Pharmaceuticals |