Cardica Announces Proposed Public Offering of Common Stock
REDWOOD CITY, Calif., March 14, 2013
REDWOOD CITY, Calif., March 14, 2013 /PRNewswire/ --Cardica, Inc. (Nasdaq:
CRDC) today announced that it intends to offer and sell, subject to market and
other conditions, shares of its common stock in an underwritten public
offering. There can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Wedbush PacGrow Life Sciences is acting as sole manager for the offering.
The shares described above are being offered by Cardica pursuant to a shelf
registration statement previously filed with the Securities and Exchange
Commission (the "SEC"), which the SEC declared effective on February 7, 2011.
A preliminary prospectus supplement is available for free by visiting EDGAR on
the SEC's website located at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus may also be obtained
from the offices of Wedbush Securities Inc., One Bush Street, 17^th Floor, San
Francisco, CA 94104, Attn: ECM Prospectus Department, by calling
415-274-6819, or by email at email@example.com. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
these shares, nor shall there be any sale of these shares in any state or
other jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of any
such state or other jurisdiction.
Cardicadesigns and manufactures proprietary stapling and anastomotic devices
for cardiac and laparoscopic surgical procedures.
Statements contained in this press release regarding Cardica's expectations
with respect to the completion, timing and size of its proposed offering are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Because such statements are subject to risks
and uncertainties, actual results may differ materially from those expressed
or implied by such forward-looking statements. Risks that contribute to the
uncertain nature of the forward-looking statements include, among others,
risks associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering. There can be no assurance
that Cardica will be able to complete the public offering on the anticipated
terms, or at all. Other risks and uncertainties relating to Cardica are
described more fully under the headings "Risk Factors" in Cardica's most
recently filed SEC documents, including its Quarterly Report on Form 10-Q for
the quarter ended December 31, 2012. All forward-looking statements contained
in this press release speak only as of the date on which they were made.
Cardica undertakes no obligation to update such statements to reflect events
that occur or circumstances that exist after the date on which they were made.
SOURCE Cardica, Inc.
Contact: Bob Newell, Vice President, Finance and Chief Financial Officer,
(650) 331-7133, firstname.lastname@example.org
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