FREMONT, CA--(Marketwire - May 08, 2008) - Cardima, Inc. (OTCBB: CADM), announces today that it has completed a private placement of 8,474,992 shares of common stock at US$0.60 per share to accredited investors. The total gross proceeds were $5,085,000. In addition, the Company issued to the investors warrants to purchase 1,271,247 shares of common stock at an exercise price of US$0.65 per share.
