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Cardica Announces Proposed Public Offering of Common Stock
Date:10/29/2007

REDWOOD CITY, Calif., Oct. 29 /PRNewswire-FirstCall/-- Cardica, Inc. (Nasdaq: CRDC) today announced that it plans to offer, subject to market and other conditions, 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 in an underwritten public offering. Cardica will not receive any proceeds from sales of shares made by the selling stockholder. Cardica expects to grant 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.

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 will be issued pursuant to a currently 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. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Printed copies of the preliminary 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 preliminary prospectus supplement relating to the offering with the S
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SOURCE Cardica, Inc.
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