Page 3 of 4 SEC Filing
EXPLANATORY NOTE
The purpose of this Amended Schedule 13D filing is to disclose additional ownership of Vycor Medical, Inc. (the “Company”) 7% Series D Convertible Redeemable Preferred Stock par value $0.0001 (the “Series D”). On February 5, 2016, Fountainhead Capital Management Limited (“Fountainhead”) received an additional 6,154 shares of Series D as a dividend on its prior holdings of Series D. Fountainhead has previously reported ownership of 6,464,484 shares of Company Common Stock par value $0.0001 (“Common Shares”), comprising ownership of 4,416,663 Common Shares and Warrants to purchase an aggregate of 2,047,821 Common Shares and 175,840 shares of Series D.
This Schedule 13D is being filed by Fountainhead to disclose its ownership of 69.68% of the Company’s outstanding Series D.
Item 1. Security and Issuer.
The name of the issuer is Vycor Medical, Inc., a Delaware corporation which has its principal offices at 6401 Congress Ave. Suite 140, Boca Raton, FL 33487 (the “Company”). This statement relates to the Company’s 7% Series D Convertible Redeemable Preferred Stock par value $0.0001.
Item 2. Identity and Background.
(a)-(f). This Schedule 13D is being filed by Fountainhead Capital Management Limited, a Jersey, C.I. corporation, which has its principal offices at Portman House, Hue Street, Jersey, Channel Islands, JE4 5RP (the “Reporting Person”).
During the last five years, the Reporting Person has not been (A) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (B) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
The shares were issued as a dividend on the shares of Company Series D held by it. See Explanatory Note, above.
Item 4. Purpose of Transaction.
The Reporting Person received 6,154 shares of Company 7% Series D Convertible Redeemable Preferred Stock par value $0.0001 as a result of a stock dividend on the shares of Company Series D held by it.
Except as set forth in this Schedule 13D, the Reporting Person has made no proposals, and has entered into no agreements, which would be related to or would result in any of the events or matters described in part (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
| (a) | The Reporting Person is the beneficial owner of 181,994 shares of Company Series D, which are convertible by their terms into 846,484 shares of the Company’s common stock, representing 69.68% of the outstanding shares of the Company’s Series D. The Reporting Person believes the number of shares of the Company’s Series D outstanding common stock to be 261,167 as of February 5, 2016. The Reporting Person has also separately reported the ownership of 6,464,484 shares of Company Common Stock. Said amount includes all shares issuable to the Reporting Person on account of Warrants held by the Reporting Person exercisable within sixty (60) days of the date of this report. Other than as described therein, the Reporting Person does not own any other securities of the Company. |
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