CAS Medical Systems Inc. (NSDQ:CASM) closed a sale of $1.9 million worth of common stock to a private group of investors.
The Branford, Conn.-based device maker brought in $1.9 million with the sale of nearly 1.38 million shares of stock at $1.40 per share.
In addition to supporting the company's operations, the new capital will fund its planned investments in the
cerebral oximetry market, CASMED said in a press release.
The company's Fore-sight absolute cerebral oximeter is the only such surgical monitoring device that is FDA approved for non-invasive, continuous measurement of absolute cerebral tissue oxygen saturation for all patients, regardless of age or weight, according the release.