Vycor Medical, Inc. (OTCMKTS:VYCO) Files An 8-K Entry into a Material Definitive Agreement

Vycor Medical, Inc. (OTCMKTS:VYCO) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01 Entry Into a Material Definitive Agreement

Item 3.02 Unregistered Sales of Equity Securities

Item 1.01 Entry into a Material Definitive
Agreement.

On February 23, 2017, Vycor Medical, Inc. (Vycor or the Company)
completed the sale of $656,110 in shares of Vycor Common Stock
(each a Share) and Warrants (together with the Shares, the
Securities) to accredited investors (the Investors). The Shares
were issued in a private placement (the Private Placement) to the
terms of Stock Purchase Agreements between the Company and each
of the Investors, and was limited to current shareholders of the
Company as of November 9, 2016 (the Record Date). Together with
the sale of $618,607 in shares sold in a closing on January 11,
2017, a total of $1,274,717 has been sold in the Private
Placement.

The Private Placement was undertaken as a private placement
offering under Section 4(a)(2) of the Securities Act of 1933, as
amended (the Act) and Rule 506(b) of Regulation D promulgated
under the Act since, among other things, the transaction did not
involve a public offering and the securities were acquired for
investment purposes only and not with a view to or for sale in
connection with any distribution thereof. The net proceeds will
be used for the further development of both the Vycor VBAS and
NovaVision divisions, as well as for general working capital.

The Securities comprised one Share at a purchase price $0.21 per
share and a Warrant to purchase one Share at an exercise price of
$0.27, exercisable over a period of three (3) years. A total of
6,070,079 Shares and Warrants to purchase 6,070,079 Shares were
issued in the Private Placement.

Item 3.02 Unregistered Sales of Equity
Securities.

Information provided in Item 1.01 is incorporated in this Item
3.02 by reference. The securities referenced herein were issued
in reliance upon the exemption from securities registration
afforded by the provisions of Section 4(a)(2) of the Securities
Act of 1933, as amended, (Securities Act), and Regulation D, as
promulgated by the U.S. Securities and Exchange Commission under
the Securities Act and Role 506(b) thereunder.


About Vycor Medical, Inc. (OTCMKTS:VYCO)

Vycor Medical, Inc. provides surgical and therapeutic solutions. The Company operates through two segments: Vycor Medical, which focuses on brain and cervical surgical access systems for sale to hospitals and medical professionals, and NovaVision, which focuses on neuro-stimulation therapies and diagnostic devices for the treatment and screening of vision field loss resulting from neurological damage. The Company designs, develops and markets neurological medical devices and therapies. The Company operates in the United States and Europe. Vycor Medical’s product Vycor Medical’s ViewSite Brain Access System (VBAS) is a next generation retraction and access system. VBAS is a disposable product that can be used with microscopic, endoscopic and neuro-navigation systems. NovaVision has a family of therapies that both restore and compensate for lost vision. NovaVision’s products include VRT and Neuro-Eye Therapy (NeET), NeuroEyeCoach and Vision Diagnostic (VIDIT).

Vycor Medical, Inc. (OTCMKTS:VYCO) Recent Trading Information

Vycor Medical, Inc. (OTCMKTS:VYCO) closed its last trading session 00.000 at 0.250 with 3,700 shares trading hands.

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