Cardica to price public stock sale through bookrunner Wedbush PacGrow

Company says principal stockholders may buy about $1.5 million shares

By Devika Patel

Knoxville, Tenn., Feb. 7 - Cardica, Inc. plans a public offering of common stock, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.

The company said that its principal stockholders have indicated they will buy about $1.5 million of stock in the offering.

Wedbush PacGrow Life Sciences is the bookrunning manager.

Proceeds will be used for general corporate purposes, including research and development activities and general, administrative and manufacturing expenses.

Based in Redwood City, Calif., Cardica develops systems for coronary artery bypass graft.

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