December 17, 2010 (FinancialWire) (Go to(http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Cardica, Inc. (CRDC – NASDAQ) said that it has entered into a common stock purchase agreement with Aspire Capital Fund, LLC, an Illinois limited liability company, under which Aspire is committed to purchase up to $10 million of Cardica's common stock over the next two years.

For the duration of the two-year purchase agreement, Cardica said it will control the timing and amount of any sales of its common stock to Aspire Capital.

Each time that Cardica elects to sell shares to Aspire Capital under the purchase agreement, the pricing of that sale will be determined by a formula that is based upon the actual sale prices of Cardica's common stock on NASDAQ over the 12 days preceding the particular sale to Aspire Capital.

California-based Cardica designs and manufactures proprietary stapling and anastomotic devices for cardiac and endoscopic surgical procedures.

=========

All of FinancialWire(tm)’s daily news offering is accessible via the FinancialWire(tm) website (at http://www.financialwire.net/). In addition, some premium content — normally available to subscribers only — is now being posted in its entirety, courtesy of Investrend Syndications (at http://www.investrend.com).

=========

Equity research on any public company is available through the Shareholders Research Alliance (go to http://www.investrend.com/synd0004 for more information).  Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com).  Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [hlthcrdp] [tchnlgy] [fnncngj] [ftrdnwswnd]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.