Cardica, a provider of automated anastomosis systems for coronary artery bypass graft surgery, will not receive any proceeds from sales of shares made by the selling stockholder and expects to grant the underwriters a 30-day option to purchase up to an additional 611,969 shares of common stock from Cardica to cover over-allotments, if any.
These shares will be issued pursuant to a currently effective shelf registration statement.
William Blair & Company is acting as the sole book-running manager of the offering. Allen & Company, Needham & Company and Merriman Curhan Ford & Co will act as co-managers of the offering.