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

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 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

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.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.


Bob Newell
Vice President, Finance and Chief Financial Officer
(650) 331-7133

SOURCE Cardica, Inc.

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