Cardica Announces Pricing of Initial Public Offering
Cooley Godward LLP represented Cardica, Inc. in its initial public offering.
REDWOOD CITY, Calif., Feb. 3 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced the pricing of the initial public offering of 3,500,000 shares of its common stock at $10.00 per share. All of the common stock is being offered by Cardica. In addition, Cardica granted the underwriters a 30-day option to purchase up to an additional 525,000 shares to cover over- allotments, if any. Cardica common stock is expected to begin trading today on the NASDAQ National Market under the symbol "CRDC." A.G. Edwards is the sole book-running manager. Allen & Company LLC is co-lead manager and Montgomery & Co., LLC is a co-manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 2, 2006. This offering is only being made by means of a prospectus. Copies of the final prospectus may be obtained, when available, from A.G. Edwards, One North Jefferson Avenue, St. Louis, Missouri 63103 (telephone number: 314-955-3000).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cardica, Inc. designs and manufactures proprietary automated anastomotic systems used by surgeons to perform coronary artery bypass graft (CABG) surgery. Cardica's first two products are the C-Port(R) Distal Anastomosis System (C-Port) and the PAS-Port(R) Proximal Anastomosis System (PAS-Port). Our C-Port system received the European Union's CE Mark in April 2004 and 510(k) clearance from the U.S. Food and Drug Administration in November 2005. Our PAS-Port system received the CE Mark in March 2003 and regulatory approval in Japan in January 2004.