Cardima To Redeem Warrants Issued on May 3, 2001.Business Editors/Health & Medical Writers FREMONT, Calif.--(BW HealthWire)--Sept. 25, 2001 Cardima(R), Inc. (Nasdaq:CRDM CRDM Control Rod Drive Mechanism CRDM Centre for Rapid Design and Manufacture (Buckinghamshire Chilterns University) CRDM Cumann Rince Dea Mheasa (Irish dancing organisation) ) -- developer of the REVELATION(TM) Tx microcatheter system -- announced today that it intends to call for redemption, subject to certain criteria, its warrants to purchase an aggregate of up to 5,813,844 shares of common stock issued on May 3, 2001 in connection with a private placement. These warrants are exercisable by paying the Company $0.87 per share of common stock. The warrants are subject to redemption by the Company at $0.001 per share of common stock on a minimum of 30 days written notice. The Company has set November 22, 2001 as the date for redemption of all unexercised warrants. The warrants may be exercised at any time prior to 5:00 p.m. Pacific Time on November 22, 2001. On August 22, 2001, a registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the shares of common stock underlying the Warrants was declared effective by the Securities and Exchange Commission. Copies of the prospectus contained in such registration statement may be obtained on the Website of the Securities and Exchange Commission at www.sec.gov, or by submitting a request to Mr. Ronald Bourquin, Chief Financial Officer at the Company. Cardima, Inc. developed the linear ablation ablation /ab·la·tion/ (-shun) 1. separation or detachment; extirpation; eradication. 2. removal or destruction, especially by cutting. ab·la·tion n. REVELATION Tx system for the treatment of atrial fibrillation atrial fibrillation Irregular rhythm (arrhythmia) of contraction of the atria (upper heart chambers). The most common major arrhythmia, it may result as a consequence of increased fibrous tissue in the aging heart, of heart disease, or in association with severe infection. (AF), which currently is in Phase III clinical trials Noun 1. phase III clinical trial - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the . Since AF afflicts an estimated 2.2 million people in the U.S. and approximately 4.5 million people worldwide, the Company believes it is a potential $6 billion market that is poorly served by current treatment alternatives. The REVELATION Tx microcatheter system is a minimally invasive, single-use system for potentially curing AF, and is believed by the Company to be 2-3 years ahead of other development-stage ablation therapies ablation therapy See Ablation–cardiology. in the approval process. Phase I and II data with the REVELATION Tx microcatheter system demonstrated safety and promising efficacy; enrollment in a Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA study is underway and is expected to be completed in the second half of 2001. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include the Company's ability to raise additional capital, conduct successful clinical trials, obtain regulatory approvals and gain acceptance from the marketplace for its products. Additional risks are set forth in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 filed with the Securities and Exchange Commission on March 22, 2001, and subsequent Form 10-Qs issued in 2001. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events. |
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