Item 8.01 Other Events.
On November 30, 2012, Cardica, Inc. filed a Current Report on Form 8-K reporting
that on November 28, 2012, Cardica received from The NASDAQ Stock Market LLC
("Nasdaq") a letter indicating that for 30 consecutive business days the market
value of Cardica's common stock had been below $50,000,000, and as a result
Cardica did not meet the requirement for continued listing of its common stock
on The Nasdaq Global Market under Marketplace Rule 5450(b)(2)(A) (the "Rule").
In accordance with Marketplace Rule 5810(c)(3)(C), Cardica had 180 calendar
days, or until May 28, 2013, to regain compliance.
On January 16, 2013, Cardica received a letter from Nasdaq stating that the
Nasdaq staff has determined that from January 2, 2013, to January 15, 2013, the
market value of Cardica's listed securities has been $50,000,000 or greater and,
accordingly, Cardica has regained compliance with the Rule and this matter is
now closed.
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