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:6/24/2016)... ... June 24, 2016 , ... ... Sessions in Dallas that it will receive two significant new grants to support ... as PHA marked its 25th anniversary by recognizing patients, medical professionals and scientists ...
(Date:6/24/2016)... Francisco, CA (PRWEB) , ... June 24, 2016 ... ... CitiDent, is now offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive ... self-ligating Damon brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation ...
(Date:6/24/2016)... NY (PRWEB) , ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin ... companies that call for a minimum wage raise to $12 an hour by 2020 and ... This will restore the lost value of the minimum wage, assure the wage floor does ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine ... Making in Emergency Medicine conference in Ponte Vedra Beach, FL. The awards honor ... Emergency Medicine Practice and Pediatric Emergency Medicine Practice. , “With this ...
(Date:6/24/2016)... Nevada (PRWEB) , ... June 24, 2016 , ... ... Vegas client, The Grove Investment Group (TGIG), has initiated cultivation and processing operations ... in Las Vegas and Pahrump, Nevada. , Puradigm is the manufacturer of a ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... -- , , , WHEN: , ... , , , LOCATION: , , , Online, with free ... EXPERT PANELISTS:  , , , Frost & Sullivan,s Global Vice President ... Industry Analyst, Divyaa Ravishankar and Unmesh Lal, Program Manager , ... is witnessing an exceptional era. Several new demand spaces, such as ...
(Date:6/23/2016)... June 23, 2016  Guerbet announced today that it ... Supplier Horizon Award . One of 12 ... recognized for its support of Premier members through exceptional ... excellence, and commitment to lower costs. ... recognition of our outstanding customer service from Premier," says ...
(Date:6/23/2016)... , June 23, 2016 ... but it continues to present great opportunities to investors. ... for today: Intrexon Corp. (NYSE: XON ), ... Pharmaceuticals Inc. (NASDAQ: ARNA ), and Regeneron ... about these stocks and receive your complimentary trade alerts ...
Breaking Medicine Technology: