Cardica Announces Full Exercise of Overallotment Option

           Cardica Announces Full Exercise of Overallotment Option  PR Newswire  REDWOOD CITY, Calif., April 30, 2014  REDWOOD CITY, Calif., April 30, 2014 /PRNewswire/ --Cardica, Inc. (Nasdaq: CRDC) today announced the full exercise of the overallotment option granted to the underwriters to purchase an additional 4,875,000 shares of common stock at the public offering price, less the underwriter discount, in connection with the company's recently announced public offering of 32,500,000 shares of its common stock and 191,474 shares of its Series A convertible preferred stock. The lead investors in the completed offering were Broadfin Capital and Camber Capital Management. The closing for the additional purchase of 4,875,000 shares took place on April 29, 2014.  Net proceeds from the sale of shares and the exercise of the overallotment option, after deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $44.5 million. Cardica anticipates using the net proceeds from the offering for general corporate purposes, including the costs of sales and marketing activities for the U.S. launch of Cardica's MicroCutter^® XCHANGE 30, research and development activities, and general and administrative and manufacturing expenses.  Wedbush PacGrow Life Sciences was sole book-running manager for the offering, and Craig-Hallum Capital Group was co-manager for the offering.  The offering was made pursuant to a registration statement filed with the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on April 15, 2014. Electronic copies of the final prospectus are available, for free by visiting EDGAR on the SEC's website located at www.sec.gov. Copies of the prospectus may also be obtained from the offices of Wedbush Securities Inc., Two Embarcadero Center, Suite 600, San Francisco, CA 94111, Attn: ECM Prospectus Department, by calling 415-274-6819 or by email at vinnie.devone@wedbush.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.  AboutCardica Cardicadesigns and manufactures proprietary stapling and anastomotic devices for cardiac and laparoscopic surgical procedures.Cardica's technology portfolio is intended to reduce operating time and facilitate minimally-invasive and robot-assisted surgeries. Cardica's MicroCutter XCHANGE^® 30, a cartridge-based articulating surgical stapling device with a five-millimeter shaft diameter, is manufactured and cleared for use in a variety of gastrointestinal procedures and appendectomies in the United States, and is marketed for a wide range of surgical procedures in Europe. Cardicais developing the Cardica^® MicroCutter XCHANGE^® 45, a cartridge-based microcutter device with an eight-millimeter shaft to be used in a variety of procedures, including bariatric, colorectal, thoracic and general surgery. The Cardica MicroCutter XCHANGE 45 product requires 510(k) review and CE Mark and is not yet commercially available in the U.S. or internationally. In addition, Cardica manufactures and markets its automated anastomosis systems, the C-Port^® Distal Anastomosis Systems and PAS-Port^® Proximal Anastomosis System for coronary artery bypass graft (CABG) surgery, and has shipped over 49,000 units throughout the world.  Contact:  Bob Newell Vice President, Finance and Chief Financial Officer (650) 331-7133 investors@cardica.com  SOURCE Cardica, Inc.  Website: http://www.cardica.com