New Issue: Cardima gives more details on $20 million private placement of stock

By Devika Patel

Knoxville, Tenn., March 4 - Cardima, Inc. gave further details on a $20 million private placement of stock in an 8-K filed Wednesday with the Securities and Exchange Commission. The deal settled Saturday.

The company sold 18,518,518 common shares at $1.08 each along with warrants for 5,555,555 shares. The warrants will be exercisable at $1.25 until Feb. 28, 2014 but may expire sooner under certain circumstances.

APIX International Ltd. was the agent.

Cardima is a medical device company based in Fremont, Calif.

Issuer:	Cardima, Inc.
Issue:	Common stock
Amount:	$20 million
Shares:	18,518,518
Price:	$1.08
Warrants:	For 5,555,555 warrants
Warrant expiration:	Feb. 28, 2014
Warrant strike price:	$1.25
Agent:	APIX International Ltd.
Settlement date:	Feb. 28
Stock symbol:	OTCBB: CADM
Stock price:	$1.15 at close Feb. 27
Market capitalization:	$139 million

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