We present measurements of the optical spectra on single crystals of spinel-type compound cis. This material undergoes a sharp metal-insulator transition at 230 K. Upon entering the insulating state, the optical conductivity shows an abrupt spectral weight transfer and an optical excitation gap opens. In the metallic phase, Drude components in low frequencies and an interband transition peak at $sim 2 eV$ are observed. In the insulating phase, a new peak emerges around $0.5 eV$. This peak is attributed to the transition of electrons from the occupied Ir$^{3+}$ $t_{2g}$ state to upper Ir$^{4+}$ $t_{2g}$ subband resulting from the dimerization of Ir$^{4+}$ ions in association with the simultaneous formations of Ir$^{3+}$ and Ir$^{4+}$ octamers as recently revealed by the x-ray diffraction experiment. Our experiments indicate that the band structure is reconstructed in the insulating phase due to the sudden structural transition.
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