REDWOOD CITY, Calif., Oct. 29 /PRNewswire-FirstCall/-- Cardica, Inc. (Nasdaq: CRDC - News) today announced that it plans to offer, subject to market and other conditions, 1,500,000 shares of its common stock for sale by Cardica and 2,579,795 shares of its common stock for sale by a selling stockholder in an underwritten public offering. Cardica will not receive any proceeds from sales of shares made by the selling stockholder. Cardica 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.
