Navigation Links
Cardica Announces Pricing of $34.7 Million Public Offering of Common Stock
Date:11/8/2007

REDWOOD CITY, Calif., Nov. 8 /PRNewswire-FirstCall/ -- Cardica, Inc. (Nasdaq: CRDC) today announced the pricing of an underwritten public offering of 1,500,000 shares of its common stock for sale by Cardica and 2,579,795 shares of its common stock for sale by a selling stockholder, at a price to the public of $8.50 per share. Cardica also granted the underwriters a 30-day option to purchase up to an additional 611,969 shares of common stock from Cardica to cover over-allotments, if any. Cardica will not receive any proceeds from the sale of shares by the selling stockholder.

William Blair & Company, L.L.C. is acting as the sole book-running manager of the offering. Allen & Company LLC, Needham & Company, LLC and Merriman Curhan Ford & Co. will act as co-managers of the offering.

These shares are being issued pursuant to an effective shelf registration statement. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Printed copies of the final prospectus supplement and base prospectus relating to the offering may be obtained, when available, from William Blair & Company, L.L.C., Prospectus Department, 222 West Adams Street, Chicago, Illinois 60606, (312) 236-1600. Cardica intends to file a final prospectus supplement relating to the offering with the SEC, which will be available along with the base prospectus filed with the SEC in connection with the shelf registration on the SEC's website at http://www.sec.gov/.

About Cardica

Cardica is a leading provider of automated anastomosis systems for coronary artery bypass graft (CABG) surgery. By replacing hand-sewn sutures with easy-to-use automated systems, Cardica provides cardiovascular surgeons with rapid, reliable and consistently reproducible anastomoses, or connections of blood vessels, often considered the most critical aspect of the CABG procedure. Cardica's C-Port(R) Distal Anastomosis Systems are marketed in Europe and the United States. The PAS-Port(R) Proximal Anastomosis System is marketed in Europe and Japan and is being evaluated in a pivotal trial in the United States and Europe. Cardica also is developing additional devices with Cook Incorporated to facilitate vascular closure and other surgical procedures.

Forward-Looking Statements

This press release contains forward-looking statements, including statements relating to Cardica's expectations regarding the completion of this offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected; accordingly, Cardica cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Cardica will be able to complete the public offering on the anticipated terms, or at all. Cardica will need substantial additional funding and may be unable to raise capital when needed, which would force it to delay, reduce or eliminate its research and development programs or commercialization efforts. Additional risks and uncertainties relating to Cardica and its business can be found in the "Risk Factors" section of Cardica's Form 10-K for its fiscal year ended June 30, 2007, Cardica's Form 10-Q for its fiscal quarter ended September 30, 2007, and in the preliminary prospectus supplement related to the offering filed with the SEC. Cardica undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Cardica's expectations.


'/>"/>
SOURCE Cardica, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Cardica Announces Proposed Public Offering of Common Stock
2. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
3. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
4. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
5. HEI, Inc. Announces Sale of RFID Division Assets
6. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
7. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
8. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
9. Brooke Franchise Corporation Announces Selected July Results
10. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
11. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified ... be personalized through a fitness app. The fitness app plans to fix the two major ... only offer a one size fits all type program , They don’t eliminate ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Austin residents ... the American College of Mohs Surgery and to Dr. Russell Peckham for medical and ... highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the ... Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. , “We ... new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary of ... award to iHire in recognition of their exemplary accomplishments in worksite health promotion. , ... Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was ...
(Date:6/24/2016)... ... 24, 2016 , ... Those who have experienced traumatic events may suffer from ... avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid this ... coping following a traumatic event. , Trauma sufferers tend to feel a range of ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016 Dehaier Medical Systems Ltd. (NASDAQ: ... markets and sells medical devices and wearable sleep respiratory ... strategic cooperation agreement with Hongyuan Supply Chain Management Co., ... June 20, 2016, to develop Dehaier,s new Internet medical ... Dehaier will leverage Hongyuan Supply Chain,s sales platform to ...
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... "The World Market for Companion Diagnostic Tests" report to ... World Market for Companion Diagnostics The World ... diagnostic and personalized medicine diagnostics. Market analysis in the report ... Diagnostics Test Market (In Vitro Diagnostic Kits) by Region (N. ...
(Date:6/24/2016)... --  Pulmatrix, Inc ., (NASDAQ: PULM ), ... today that it was added to the Russell Microcap ... set of U.S. and global equity indexes on June ... for Pulmatrix," said Chief Executive Officer Robert Clarke ... in developing drugs for crucial unmet medical needs, and ...
Breaking Medicine Technology: