CAS Med completes $1.9M offering

Branford medical-device maker CAS Medical Systems Inc.'s recent $1.9 million private stock placement puts it back in compliance with Nasdaq listing rules, CAS declares in a regulatory filing.

CAS Medical said Nasdaq granted a 45-day extension until Aug. 23 for the company to submit a plan to restore its stockholders' equity to minimum levels - or submit evidence that it has done so -- or face delisting, the company said in the filing with the Securities and Exchange Commission.

As of Dec. 31, 2009, CAS said its $9.4 million in stockholders' equity was below Nasdaq's $10 million minimum.

CAS said that, based on the June 22 extension and the closing six days earlier of the private placement, it believes its equity levels are back in compliance with Nasdaq rules.

CAS did not say in the filing whether Nasdaq agrees with the company's assertion.