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Cardica Inc. Message Board

  • biotechbeagle biotechbeagle Mar 14, 2013 6:57 PM Flag

    Anyone read the 424B5SEC Filing? Offer to sell shares...

    No number of shares for sale stated, however, it does say that prinicipal stockholders have indicated they will buy 2.4million at the market. Funny that 500 shares sold after hours for $1.35 down $.05 from the close. I think the stock will run up tomorrow given the little liquidity and the principals buying 2.4 million at the market. Price may double tomorrow to $3.00or more! There maybe some institutions that want to get in at this point and this is their opportunity to have available shares. We all now that the avg daily volume is only around 22k. Wedbush was the one that said the finance raising would be a catalyst and they are the ones who are doing the underwriting. Will be very interesting to see how it plays out! GLTA!

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    • andersongordon@ymail.com andersongordon Mar 16, 2013 5:00 PM Flag

      Read the filing, in it they mention a price of $1.37 at close of day March 14, 2013. I didn't see any price mentioned for offering only what you stated as 2.4 million. I could not assertain if it was 2.4 million shares or 2.4 million $s worth of shares. I don't think they will offer 15 million shares at $1.05 as some other posters are claiming. I would expect up to 10 million for a 25% dillution, no more. If they can get a bridge loan until after the test enrollment is complete in May, even if the report is not filed yet but waiting for the the final examinations and statistical analysis, I think they could get $3.00 a share. They need a $2-$4 million bridge loan for 3 months. Thats coffee money for someone interested in this company that has 1-2 million shares already. What do you think?
      GSA

    • So you think the stock will run to $3 today? That made me laugh for a solid five minutes. Since when does heavy dilution of a near death company with no money and no worthwhile products to speak of triple in value?

      15m shares at a buck. There you go, that's your new ceiling, my friends. And it will be a near impenetrable one at that. IMO, this goes below the offer price today and barring a r/s will probably never rise above a buck again.

      Anyone think they will finish the trial before this money runs out too?

      Me neither.

    • From Wedbush, "With a commercially-ready device now in hand, we expect Cardica to focus on its near-term financing needs. We anticipate a raise of approximately $15 million occurring towards the beginning of next year, which would extend Cardica's cash runway by roughly 12 months. We view the completion of a financing as an important near-term catalyst for investors."

      Sentiment: Strong Buy

 
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