Close

Form SC 13D/A CARDICA INC Filed by: Broadfin Capital, LLC

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 4/18/2024

1. LVS
2. TSM
3. CSX
4. BPTS
5. EFX
6. UAL
7. ALK
8. SPY
9. JEWL
10. AA


November 13, 2014 9:01 AM EST
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO ��240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
��240.13d-2(a)

(Amendment No.�2)1

Cardica, Inc.
(Name of Issuer)

Common Stock, par value $0.001 per share
(Title of Class of Securities)

14141R101
(CUSIP Number)
�
KEVIN KOTLER
BROADFIN CAPITAL, LLC
237 Park Avenue, 9th Floor
New York, New York 10017
(310) 246-0345
�
STEVE WOLOSKY, ESQ.
OLSHAN FROME�WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

November 13, 2014
(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ���240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x.

Note:��Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.��See ��240.13d-7 for other parties to whom copies are to be sent.


_______________
1������������� The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
�
�
�
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
BROADFIN HEALTHCARE MASTER FUND, LTD.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
CAYMAN ISLANDS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
8,874,992*
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
8,874,992*
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
8,874,992*
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
9.98%*
14
TYPE OF REPORTING PERSON
�
CO
�
____________________
* See Item 5 of Amendment No. 1 the Schedule 13D.
�
�
2
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
BROADFIN HEALTHCARE FUND, L.P.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
8,874,992*
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
8,874,992*
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
8,874,992*
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
9.98%*
14
TYPE OF REPORTING PERSON
�
PN
�
____________________
* See Item 5 of Amendment No. 1 the Schedule 13D.
�
�
3
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
BROADFIN HEALTHCARE OFFSHORE FUND, LTD
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
CAYMAN ISLANDS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
8,874,992*
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
8,874,992*
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
8,874,992*
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
9.98%*
14
TYPE OF REPORTING PERSON
�
CO
�
____________________
* See Item 5 of Amendment No. 1 the Schedule 13D.
�
4
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
BROADFIN ADVISORS, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
8,874,992*
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
8,874,992*
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
8,874,992*
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
9.98%*
14
TYPE OF REPORTING PERSON
�
OO
�
____________________
* See Item 5 of Amendment No. 1 the Schedule 13D.
�
5
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
BROADFIN CAPITAL, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
8,874,992*
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
8,874,992*
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
8,874,992*
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
9.98%*
14
TYPE OF REPORTING PERSON
�
OO
�
____________________
* See Item 5 of Amendment No. 1 the Schedule 13D.
�
�
6
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
KEVIN KOTLER
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
8,874,992*
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
8,874,992*
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
8,874,992*
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
9.98%*
14
TYPE OF REPORTING PERSON
�
IN
�
____________________
* See Item 5 of Amendment No. 1 the Schedule 13D.
�
�
7
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
GREGORY D. CASCIARO
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
�
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
- 0 -
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
- 0 -
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
- 0 -
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
0%
14
TYPE OF REPORTING PERSON
�
IN

�
8
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
R. MICHAEL KLEINE
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
�
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
- 0 -
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
- 0 -
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
- 0 -
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
0%
14
TYPE OF REPORTING PERSON
�
IN

�
9
�
CUSIP NO. 14141R101
�
1
NAME OF REPORTING PERSON
�
SAMUEL E. NAVARRO
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
� (a)�x
� (b)�o
3
SEC USE ONLY
�
4
SOURCE OF FUNDS
�
�
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
�
�
6
CITIZENSHIP OR PLACE OF ORGANIZATION
�
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
�
- 0 -
8
SHARED�VOTING POWER
�
- 0 -
9
SOLE DISPOSITIVE POWER
�
- 0 -
10
SHARED�DISPOSITIVE POWER
�
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
�
- 0 -
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
�
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
�
0%
14
TYPE OF REPORTING PERSON
�
IN

�
10
�
CUSIP NO. 14141R101
�
The following constitutes Amendment No. 2 to the Schedule 13D filed by the undersigned (Amendment No. 2).��This Amendment No. 2 amends the Schedule 13D as specifically set forth herein.
�
Item 4.
Purpose of Transaction.
�
Item 4 is hereby amended to add the following:
�
On November 13, 2014, Broadfin Capital and its affiliates (Broadfin) issued an open letter to the Issuers shareholders.��In the letter, Broadfin highlighted the undisputed facts of the Issuers continual underperformance under the leadership of the Board of Directors of the Issuer (the Board) and set the record straight with regard to the Issuers unfounded recent claims. The letter detailed that (i) the Shares have lost approximately 91% of their value since the Issuers IPO in 2006, (ii) the Issuer has produced negative returns for the past 1-, 3-, and 5 - year periods and since its IPO, (iii) the Issuer has, since it became a public company, underperformed the NASDAQ Composite Total Returns Index by 210.5%, Russell 200 Total Return Index by 171.3% and the S&P Healthcare Total Return Index by 227.9% and (iv) the Issuer has missed revenue expectations 78% of the time and has failed to achieve its own set of pipeline milestones within deadline in 59% of the cases. Broadfin also set the record straight regarding a number of unfounded claims made by the Issuer in its recent filings with the SEC.
�
Broadfin noted its three independent nominees, Gregory D. Casciaro, R. Michael Kleine and Samuel E. Navarro, bring a combination of valuable and much needed experience on the Board, including directly relevant experience and knowledge of new product launches in the surgical markets, both domestically and in key international markets, financial expertise, strong track records of prior success and commitment to shareholder value. Broadfin concluded by urging all stockholders to vote on its GOLD proxy card to elect Broadfins three nominees to the Board at the upcoming 2014 Annual Meeting. The full text of the letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
�
Item 7.
Material to be Filed as Exhibits.
�
Item 7 is hereby amended to add the following exhibit:
�
�
99.1
Open Letter to Shareholders, dated November 13, 2014.
�
�
11
�
CUSIP NO. 14141R101
�
SIGNATURES
�
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
�
Dated:� November 13, 2014
BROADFIN HEALTHCARE MASTER FUND, LTD.
� �
�
By:
/s/ Kevin Kotler
�
Name:
Kevin Kotler
�
Title:
Director


�
BROADFIN HEALTHCARE FUND, L.P.
� �
�
By:
Broadfin Advisors, LLC
General Partner
� � �
�
By:
/s/ Kevin Kotler
�
Name:
Kevin Kotler
�
Title:
Managing Member


�
BROADFIN HEALTHCARE OFFSHORE FUND, LTD
� �
�
By:
/s/ Kevin Kotler
�
Name:
Kevin Kotler
�
Title:
Director


�
BROADFIN ADVISORS, LLC
� �
�
By:
/s/ Kevin Kotler
�
Name:
Kevin Kotler
�
Title:
Managing Member


�
BROADFIN CAPITAL, LLC
� �
�
By:
/s/ Kevin Kotler
�
Name:
Kevin Kotler
�
Title:
Managing Member


� �
�
/s/ Kevin Kotler
�
KEVIN KOTLER
Individually and as attorney-in-fact for Gregory D. Casciaro, R. Michael Kleine and Samuel E. Navarro
�
�
12
�

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings

Related Entities

13D, Broadfin Capital