Navigation Links
Vycor Medical, Inc. Completes Equity Capital Raise
Date:6/8/2011

BOCA RATON, Fla., June 8, 2011 /PRNewswire/ -- On June 7, 2011, Vycor Medical, Inc.  ("Vycor" or the "Company") completed the sale of $1,570,000 in Units comprising Preferred Shares and Warrants (the "Units") to accredited investors (the "Investors").  The Units were issued pursuant to the terms of separate Series C Convertible Preferred Stock Purchase Agreements between the Company and each of the Investors. This sale is an initial closing (the "Initial Closing") under the Agreements which allow for maximum proceeds of $3,000,000.  

Each Unit was priced at $50,000 and comprised one share of Series C Preferred Convertible Stock convertible (at the Holder's option or mandatorily upon the occurrence of certain events) into 2,222,222 shares of the Company's Common Stock ($0.0225 per share) and a Warrant to purchase 1,111,111 shares of the Company's Common Stock at $0.03 per share for a period of three years.  A total of 69,777,773 shares of Series C Convertible Preferred Stock and Warrants to purchase 34,888,890 shares of the Company's Common Stock were issued in the offering.  The proceeds of the sale of the Units will be used for working capital and general corporate purposes.  A portion of the proceeds is earmarked for the cost of investor relations.

14.40 Units were sold in the offering by a placement agent and the Company directly sold an additional 17.00 Units to Investors.

About Vycor Medical, Inc.

With corporate headquarters in Boca Raton, FL, Vycor Medical, Inc. (VYCO.BB) is a medical device company committed to making neurological brain, spinal and other surgical procedures safer and more effective.  The company's flagship, Patent Pending ViewSite™ Surgical Access Systems represent an exciting new minimally invasive access and retraction system that holds the potential for speedier, safer and more economical brain, spinal and other surgeries and a quicker patient discharge.  Vycor's innovative medical instruments are designed to optimize neurosurgical site access, reduce patient risk, accelerate recovery, and add tangible value to the professional medical community. Vycor is ISO 13485:2003 compliant, has FDA 510(K) clearance for brain and spine surgeries, and CE marketing and HPB licensing in Canada. 

Vycor Medical's subsidiary NovaVision, Inc. researches, develops and provides science-driven light-based neurostimulation therapy and other medical technologies that help restore sight to patients with neurological vision impairments.  The company's proprietary, award-winning Visual Restoration Therapy (VRT) platform is FDA-cleared and clinically supported to improve lost vision resulting from stroke, brain cancer, traumatic brain injury ("TBI"), or other acquired brain injury. VRT can be prescribed by any ophthalmologist, optometrist, neurologist or physiatrist. NovaVision also provides a device that aids in the diagnosis of visual field deficits: the Head Mounted Perimeter (HMP™) - a portable and ADA-compliant instrument to aid in the detection and measurement of visual field deficits even in bed-ridden patients.

For the latest information on the company, including media and other coverage, and to learn more, please go online at www.VycorMedical.com or www.NovaVision.com.

Safe Harbor Statement

Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Vycor Medical's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Vycor Medical's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Vycor Medical herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Vycor Medical disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.

Contact:
Karen Coviello
karencovi@hotmail.com
323-387-9555


'/>"/>
SOURCE Vycor Medical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Prescient Medical, Inc. Acquires New Technology to Detect Inflammation in Coronary Blood Vessels
2. Prescient Medical, Inc. Achieves Successful Clinical Debut of vProtect(TM) Luminal Shield
3. China Sky One Medical, Inc. Announces 26 New Drugs in Clinical Trials
4. China Sky One Medical, Inc. Achieves Significant Breakthrough in Research for Sudden Cardiac Death (SCD) Early Examination Kit
5. New Study Shows that Prebiotics, as Used by Jackson GI Medical, Increases Lifespan by 33%
6. Luminous Medical, Inc. Secures Exclusive Rights to Glucose Sensor for Its Automated Glucose Monitor
7. Cardiva Medical, Inc. Announces the Departure of its President and his Appointment as CEO of Innovative Energy, Inc.
8. Tenaxis Medical, Inc. Announces Completion of the Enrollment Phase of Their Pivotal Study
9. China Sky One Medical, Inc. Completes and Moves into New Corporate Headquarters
10. China Sky One Medical, Inc.s AMI Diagnostic Kit Recognized as a National Innovation Project by NDRC
11. Cardo Medical, Inc. Announces Closing of $6.2 Million Private Placement
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/9/2017)... , May 9, 2017  Oramed Pharmaceuticals Inc. ... a clinical-stage pharmaceutical company focused on the development ... the Canadian Intellectual Property Office has granted Oramed ... Administration of Exenatide". The patent covers Oramed,s invention ... GLP-1 is an incretin hormone that stimulates ...
(Date:5/6/2017)... Provista , a proven leader in the supply chain industry ... Jim Cunniff as the company,s new president and CEO. ... Provista, including most recently serving as the president and CEO ... He assumed his new role with Provista on May 1, ... says Jody Hatcher , president, Sourcing and Collaboration Services ...
(Date:5/4/2017)... MEMPHIS, Tenn. , May 4, 2017 /PRNewswire/ ... of Infection Control, Ultraviolet-C light as ... demonstrated Tru-D SmartUVC,s ability to reduce bioburden on ... influenced bioburden reduction on high-touch, complex medical equipment ... in surgical infections. "This study further ...
Breaking Medicine Technology:
(Date:5/24/2017)... ... 2017 , ... The CFOs included on this list lead ... the nation and help their organizations navigate the challenges in healthcare today. These ... developing successful hospital and health system strategy. , Becker's Hospital Review has published ...
(Date:5/24/2017)... (PRWEB) , ... May 24, 2017 , ... Technique, technique, ... back injury when either lifting weights for strength training and exercise or simply lifting ... Center . , “Body position is everything,” Dr. Chang says. “Improper technique in lifting ...
(Date:5/23/2017)... ... May 23, 2017 , ... MDLand ... Integration company, announced today that its iClinic V12.2 solution has achieved approval from ... NCQA recently introduced PCMH 2017 standards which emphasize team-based care with a significant ...
(Date:5/23/2017)... ... ... Allegheny Health Network and the Alexis Joy D’Achille Foundation ... at West Penn Hospital , a unique facility that will offer the most ... Construction of the Center is underway with a scheduled opening in the fall of ...
(Date:5/23/2017)... ... May 23, 2017 , ... Cambridge, MA, May 23, 2017—Total ... according to a Workers Compensation Research Institute (WCRI) study, a contrast from the ... System: CompScope™ Benchmarks, 17th Edition looks at indemnity and medical payments for ...
Breaking Medicine News(10 mins):