** Shares of communication technology company Casa Systems

down 61% at 1 cent in premarket trade

** Co initiates sale process for business under Chapter 11 bankruptcy; enters agreements to sell its 5G Mobile Core and RAN businesses

** CASA has entered into restructuring support deal with more than 98% of its senior secured lenders

** Its international units are not debtors in the chapter 11 process and will continue to operate pending deal closing

** CASA has asked bankruptcy court to approve procedures for soliciting additional bids and to set an auction date for mid-May

** As of last close, stock down 51.4%

(Reporting by Saikeerthi in Bengaluru)

((Saikeerthi@thomsonreuters.com;))