REDWOOD CITY, Calif.,
Oct. 5, 2015 /PRNewswire/
-- Cardica, Inc. (Nasdaq: CRDC) today announced that the its
Board of Directors has revised the date for its upcoming annual
meeting of stockholders to be January
29, 2016. The Board of Directors took this action in
connection with the Board's appointment of Julian Nikolchev as Cardica's new chief
executive officer.
"The Board of Directors (one dissent; one abstention) has
revised the date for Cardica's upcoming annual meeting to allow our
new chief executive officer, Julian
Nikolchev, time to evaluate our operating plan and budget,
assume leadership of Cardica and determine the most important
priorities of the company," said Gary
Petersmeyer, Cardica's Chairman of the Board. "This
will also enable the Cardica Board to finalize its proposed slate
of directors to represent the interests of all of the stockholders
of Cardica. We understand the urgency of our situation, given the
impending proxy contest by Broadfin, but ask that our stockholders
understand and appreciate our desire and best efforts to put in
place a stable, long-term solution for the benefit of all
stockholders."
In connection with the revision of the date for Cardica's
upcoming annual meeting, the Cardica Board of Directors established
the record date for the annual meeting to be December 2, 2015.
About Cardica
Cardica designs and manufactures proprietary stapling and
anastomotic devices for cardiac and laparoscopic surgical
procedures. Cardica's technology portfolio is intended to
reduce operating time and facilitate minimally-invasive and
robot-assisted surgeries. Cardica's MicroCutter XCHANGE®
30, a cartridge-based articulating surgical stapling device with a
five-millimeter shaft diameter, is manufactured and cleared for use
in a variety of gastrointestinal procedures and appendectomies in
the United States, and for a wide
range of surgical procedures in Europe. In addition, Cardica manufactures and
markets its automated anastomosis systems, the C-Port®
Distal Anastomosis Systems and PAS-Port® Proximal
Anastomosis System for coronary artery bypass graft (CABG) surgery,
and has shipped over 55,000 units throughout the world.
Important Information
Cardica intends to file with the Securities and Exchange
Commission (the "SEC") and expects to mail to stockholders a proxy
statement relating to Cardica's 2015 Annual Meeting of
Stockholders. Stockholders are urged to read the proxy statement
and any related documents when they become available as they
contain important information. Stockholders may obtain free copies
of these documents and other documents filed with the SEC by
Cardica at the SEC's website at www.sec.gov. These documents can
also be obtained free of charge from Cardica's website at
www.cardica.com. Cardica's directors and certain of its executive
officers may be deemed to be participants in the solicitation of
proxies from stockholders. Information regarding the names and
special interests of these directors and executive officers in
proxy solicitation will be included in the proxy statement
described above.
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SOURCE Cardica, Inc.