Cardica prices offering

|By:, SA News Editor

Cardica (CRDC) offers 32.5M shares of common stock for public sale at $0.85/share plus 191,474 shares of Series A convertible preferred stock at $85/share (each share converts into 100 shares of common).

Underwriters over-allotment is 4.875M shares of common.

Gross proceeds expected to be ~$44M.

Closing date April 22.