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<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on June 1, 2015</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center; border-bottom: Black 1.5pt solid"><B>Registration
No. 333-_____________<BR>
&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C.&nbsp;&nbsp;20549</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>____________________________</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>FORM S-8<BR>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>____________________________</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>MGC DIAGNOSTICS CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Minnesota</B></FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>41-1579150</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman TUR,serif">(State or other jurisdiction of</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman TUR,serif">incorporation or organization)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman TUR,serif">(I.R.S. Employer</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman TUR,serif">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">350 Oak Grove Parkway<BR>
Saint Paul, Minnesota 55127</P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center">(Address of principal executive offices and zip
code)</P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>____________________________</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>MGC DIAGNOSTICS CORPORATION<BR>
2007 Stock Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center">(Full title of the Plan)</P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>____________________________</B></P>

<P STYLE="font: 10pt Times New Roman TUR,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 63%; font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 37%; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman TUR,serif">Copy to:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>Wesley W. Winnekins</B></FONT></TD>
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>Thomas G. Lovett, IV</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>Chief Operating Officer and Chief Financial Officer</B></FONT></TD>
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>Lindquist &amp; Vennum LLP</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>MGC Diagnostics Corporation</B></FONT></TD>
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>4200 IDS Center</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>350 Oak Grove Parkway</B></FONT></TD>
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>80 South 8th Street</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>Saint Paul, Minnesota 55127</B></FONT></TD>
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>Minneapolis, Minnesota&nbsp;&nbsp;55402</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>651-484-4874</B></FONT></TD>
    <TD NOWRAP STYLE="font-family: Times New Roman,serif"><FONT STYLE="font: 10pt Times New Roman TUR,serif"><B>612-371-3211</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman TUR,serif">(Name,
address and telephone</FONT> number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">**Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated
filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the exchange Act. (Check
one):</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Large accelerated filer <FONT STYLE="font-family: MS Mincho">&#9744;</FONT></FONT></TD>
    <TD STYLE="width: 53%; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: MS Mincho">&#9744;</FONT></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: MS Mincho">&#9746;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">(Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">CALCULATION OF REGISTRATION FEE</P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 34%; border-top: Black 2.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Securities to be Registered</B></FONT></TD>
    <TD NOWRAP STYLE="width: 12%; border-top: Black 2.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount to be</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Registered (1)</B></FONT></TD>
    <TD NOWRAP STYLE="width: 24%; border-top: Black 2.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum Offering</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Price Per Share</B></FONT></TD>
    <TD NOWRAP STYLE="width: 15%; border-top: Black 2.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Maximum</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Aggregate Offering</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Price </B></FONT></TD>
    <TD NOWRAP STYLE="width: 15%; border-top: Black 2.5pt double; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount of</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Registration Fee</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 2.5pt double; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.1 per share </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.5pt double; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>100,000</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.5pt double; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>$6.00</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.5pt double; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>$600,000</B></FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>$69.72</B></FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: left">Estimated solely for the purpose of determining the registration fee pursuant to Rule 457(c) and (h)
and based upon the closing price of the Company&rsquo;s Common Stock on the Nasdaq Stock Market on May 27, 2015.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">INTRODUCTION</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">This Registration Statement on Form S-8 is filed by
MGC Diagnostics Corporation, a Minnesota corporation, (&ldquo;MGC&rdquo; or the &ldquo;Company&rdquo;) to register 100,000 shares
of its common stock issuable under its 2007 Stock Incentive Plan.</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">INCORPORATION OF CONTENTS OF REGISTRATION STATEMENT
BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">MGC Diagnostics Corporation filed a Form S-8 Registration
Statement with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) on August 23, 2007 (File No. 333-145653) covering the
registration of 250,000 shares of the Common Stock under the Company&rsquo;s 2007 Stock Incentive Plan (the &ldquo;2007 Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">The Company filed subsequent Form S-8 Registration
Statements to register</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">(i) an additional 300,000 shares on June 30, 2008 (File
No. 333-152015),</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">(ii) an additional 100,000 shares on June 12, 2009 (File
No. 333-159929), and</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">(iii) an additional 100,000 shares on May 26, 2010 (File
No. 333-167102).</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">Pursuant to General Instruction E of Form S-8 and Rule
429, this Registration Statement is being filed to register an additional 100,000 shares authorized under the 2007 Plan. The contents
of the prior Registration Statements are incorporated herein by reference.</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">PART I</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">Pursuant to the note to Part I of Form S-8, the information
required by Items 1 and 2 of Form S-8 is not filed as a part of this Registration Statement.</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman TUR,serif; margin: 0; text-align: center">PART II</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 3.&nbsp;&nbsp;Incorporation of Documents by Reference.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">The following documents filed with the Securities and
Exchange Commission are hereby incorporated by reference:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended October 31, 2014;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended January 31, 2015;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">All other reports filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act
since the end of the year ended October 31, 2014; and</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(d)</FONT><FONT STYLE="font: 7pt Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The description of the Company&rsquo;s Common Stock to be offered pursuant to this Registration
Statement is incorporated by reference to the Company&rsquo;s Registration Statement on Form 8-A (File No. 0-17019), filed on October
28, 2002, including any amendment or report filed for the purpose of updating this description.</FONT></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">All documents subsequently filed by the Company pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 prior to the completion or termination of this offering
of shares of Common Stock shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof
from the date of filing of such documents.</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 4.&nbsp;&nbsp;Description of Securities.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">The description of the Company&rsquo;s Common Stock
to be offered pursuant to this Registration Statement has been incorporated by reference into this Registration Statement as described
in Item 3 of this Part II.</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 5.&nbsp;&nbsp;Interests of Named Experts and Counsel.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 6.&nbsp;&nbsp;Indemnification of Directors and Officers.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">Section 302A.521 of the Minnesota Statutes and Article
5 of the Company&rsquo;s Amended and Restated Bylaws require, among other things, the indemnification of any person made or threatened
to be made a party to a proceeding by reason of acts or omissions performed in the person&rsquo;s official capacity as an officer,
director, employee or agent of the Company against judgments, penalties and fines (including attorneys&rsquo; fees) if the person
is not otherwise indemnified, acted in good faith, received no improper benefit, reasonably believed that such conduct was in the
best interests of the Company, and, in the case of criminal proceedings, had no reason to believe the conduct was unlawful. In
addition, Section 302A.521, subd. 3, of the Minnesota Statutes requires payment by the Company, upon written request, of reasonable
expenses in advance of final disposition in certain instances if a decision as to required indemnification is made by a disinterested
majority of the Board of Directors present at a meeting at which a disinterested quorum is present, or by a designated committee
of the Board, by special legal counsel, by the shareholders or by a court. The Company also maintains insurance to assist in funding
indemnification of directors and officers for certain liabilities.</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 7.&nbsp;&nbsp;Exemption from Registration Claimed.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 8.&nbsp;&nbsp;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.25in"><U>Exhibit</U></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.1</TD><TD>MGC Diagnostics Corporation 2007 Stock Incentive Plan, as amended.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.1</TD><TD>Opinion of Lindquist &amp; Vennum P.L.L.P.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">23.1</TD><TD>Consent of Lindquist &amp; Vennum P.L.L.P. (included in
Exhibit 5.1)</TD>
</TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">23.2</TD><TD>Consent of Baker Tilly Virchow Krause, LLP, the Company&rsquo;s
Independent Registered Public Accounting Firm</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">24.1</TD><TD>Power of Attorney (included on signature page)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0">Item 9.&nbsp;&nbsp;Undertakings.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-indent: 0.5in">(1)&#9;To file, during any period in which
offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 1in; text-indent: 0.5in">(i)&nbsp;&nbsp;To include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such
information in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-indent: 0.5in">(2)&#9;That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 0 0.5in; text-indent: 0.5in">(3)&#9;To remove from registration by means
of a post-effective amendment any of the securities being registered that remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that
is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant
of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action,
suit, or proceeding) is asserted by such director, officer, or controlling person connected with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication.</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities Act of
1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in
the City of Minneapolis, State of Minnesota, on May 28, 2015.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt"><B>MGC DIAGNOSTICS CORPORATION</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 55%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 3%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 42%; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">By&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">/s/&nbsp;&nbsp;Todd M. Austin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Todd M. Austin</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman,serif; margin: 0; text-align: center">POWER OF ATTORNEY</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: left; text-indent: 0.5in">The undersigned officers and directors
of MGC Diagnostics Corporation hereby constitute and appoint Todd M. Austin and Wesley W. Winnekins, each acting alone, with power
to act as our true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for us and in our
stead, in any and all capacities to sign any and all amendments (including post-effective amendments) to this Registration Statement
and all documents relating thereto, and to file the same, with all exhibits thereto, and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto each attorney-in-fact and agent, full power and authority to do and
perform each and every act and thing necessary or advisable to be done in and about the premises, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that each attorney-in-fact and agent, or his or her
substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements of
the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities
indicated on May 28, 2015.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Todd M. Austin</FONT></TD>
    <TD STYLE="width: 3%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 64%; font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Todd M. Austin</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">(principal executive officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Wesley W. Winnekins</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Chief Financial Officer and Chief Operating Officer </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Wesley W. Winnekins</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">(principal financial and accounting officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Mark W. Sheffert</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Chairman of the Board, Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Mark W. Sheffert</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ John R. Baudhuin</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">John R. Baudhuin</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Terrence W. Bunge</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Terrence W. Bunge</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Wendy D. Lynch, Ph.D.</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Wendy D. Lynch, Ph.D.</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Robert E. Munzenrider</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Robert E. Munzenrider</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Hendrik Struik</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">Hendrik Struik</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
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[{"type": "S-8", "sequence": "1", "filename": "mgc151911_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 42485}]
{"company-data": {"conformed-name": "MGC DIAGNOSTICS Corp", "cik": "0000815093", "assigned-sic": "3841", "irs-number": "411579150", "state-of-incorporation": "MN", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-204612", "film-number": "15903068"}, "business-address": {"street1": "350 OAK GROVE PARKWAY", "city": "ST PAUL", "state": "MN", "zip": "55127", "phone": "651-484-4874"}, "mail-address": {"street1": "350 OAK GROVE PARKWAY", "city": "ST PAUL", "state": "MN", "zip": "55127"}, "former-company": [{"former-conformed-name": "ANGEION CORP/MN", "date-changed": "19920703"}, {"former-conformed-name": "VERDE VENTURES INC", "date-changed": "19880714"}]}
As filed with the Securities and Exchange Commission
on June 1, 2015
Registration
No. 333-_____________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
____________________________
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
____________________________
MGC DIAGNOSTICS CORPORATION
(Exact name of registrant as specified in its charter)
Minnesota
41-1579150
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
350 Oak Grove Parkway
Saint Paul, Minnesota 55127
(Address of principal executive offices and zip
code)
____________________________
MGC DIAGNOSTICS CORPORATION
2007 Stock Incentive Plan
(Full title of the Plan)
____________________________
Copy to:
Wesley W. Winnekins
Thomas G. Lovett, IV
Chief Operating Officer and Chief Financial Officer
Lindquist & Vennum LLP
MGC Diagnostics Corporation
4200 IDS Center
350 Oak Grove Parkway
80 South 8th Street
Saint Paul, Minnesota 55127
Minneapolis, Minnesota  55402
651-484-4874
612-371-3211
(Name,
address and telephone
number, including area code, of agent for service)
**Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated
filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the exchange Act. (Check
one):
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☒
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Title of
Securities to be Registered
Amount to be
Registered (1)
Proposed Maximum Offering
Price Per Share
Proposed
Maximum
Aggregate Offering
Price
Amount of
Registration Fee
Common Stock, par value $0.1 per share
100,000
$6.00
$600,000
$69.72
(1)
Estimated solely for the purpose of determining the registration fee pursuant to Rule 457(c) and (h)
and based upon the closing price of the Company's Common Stock on the Nasdaq Stock Market on May 27, 2015.
INTRODUCTION
This Registration Statement on Form S-8 is filed by
MGC Diagnostics Corporation, a Minnesota corporation, ("MGC" or the "Company") to register 100,000 shares
of its common stock issuable under its 2007 Stock Incentive Plan.
INCORPORATION OF CONTENTS OF REGISTRATION STATEMENT
BY REFERENCE
MGC Diagnostics Corporation filed a Form S-8 Registration
Statement with the Securities and Exchange Commission ("SEC") on August 23, 2007 (File No. 333-145653) covering the
registration of 250,000 shares of the Common Stock under the Company's 2007 Stock Incentive Plan (the "2007 Plan").
The Company filed subsequent Form S-8 Registration
Statements to register
(i) an additional 300,000 shares on June 30, 2008 (File
No. 333-152015),
(ii) an additional 100,000 shares on June 12, 2009 (File
No. 333-159929), and
(iii) an additional 100,000 shares on May 26, 2010 (File
No. 333-167102).
Pursuant to General Instruction E of Form S-8 and Rule
429, this Registration Statement is being filed to register an additional 100,000 shares authorized under the 2007 Plan. The contents
of the prior Registration Statements are incorporated herein by reference.
PART I
Pursuant to the note to Part I of Form S-8, the information
required by Items 1 and 2 of Form S-8 is not filed as a part of this Registration Statement.
PART II
Item 3.  Incorporation of Documents by Reference.
The following documents filed with the Securities and
Exchange Commission are hereby incorporated by reference:
(a)
The Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2014;
(b)
The Company's Quarterly Report on Form 10-Q for the quarter ended January 31, 2015;
(c)
All other reports filed pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act
since the end of the year ended October 31, 2014; and
(d)
The description of the Company's Common Stock to be offered pursuant to this Registration
Statement is incorporated by reference to the Company's Registration Statement on Form 8-A (File No. 0-17019), filed on October
28, 2002, including any amendment or report filed for the purpose of updating this description.
All documents subsequently filed by the Company pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 prior to the completion or termination of this offering
of shares of Common Stock shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof
from the date of filing of such documents.
Item 4.  Description of Securities.
The description of the Company's Common Stock
to be offered pursuant to this Registration Statement has been incorporated by reference into this Registration Statement as described
in Item 3 of this Part II.
Item 5.  Interests of Named Experts and Counsel.
Not applicable.
Item 6.  Indemnification of Directors and Officers.
Section 302A.521 of the Minnesota Statutes and Article
5 of the Company's Amended and Restated Bylaws require, among other things, the indemnification of any person made or threatened
to be made a party to a proceeding by reason of acts or omissions performed in the person's official capacity as an officer,
director, employee or agent of the Company against judgments, penalties and fines (including attorneys' fees) if the person
is not otherwise indemnified, acted in good faith, received no improper benefit, reasonably believed that such conduct was in the
best interests of the Company, and, in the case of criminal proceedings, had no reason to believe the conduct was unlawful. In
addition, Section 302A.521, subd. 3, of the Minnesota Statutes requires payment by the Company, upon written request, of reasonable
expenses in advance of final disposition in certain instances if a decision as to required indemnification is made by a disinterested
majority of the Board of Directors present at a meeting at which a disinterested quorum is present, or by a designated committee
of the Board, by special legal counsel, by the shareholders or by a court. The Company also maintains insurance to assist in funding
indemnification of directors and officers for certain liabilities.
Item 7.  Exemption from Registration Claimed.
Not applicable.
Item 8.  Exhibits.
Exhibit
4.1
MGC Diagnostics Corporation 2007 Stock Incentive Plan, as amended.
5.1
Opinion of Lindquist & Vennum P.L.L.P.
23.1
Consent of Lindquist & Vennum P.L.L.P. (included in
Exhibit 5.1)
23.2
Consent of Baker Tilly Virchow Krause, LLP, the Company's
Independent Registered Public Accounting Firm
24.1
Power of Attorney (included on signature page)
Item 9.  Undertakings.
(a)          The
Company hereby undertakes:
(1)	To file, during any period in which
offers or sales are being made, a post-effective amendment to this registration statement:
(i)  To include any material information
with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such
information in the registration statement;
(2)	That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(3)	To remove from registration by means
of a post-effective amendment any of the securities being registered that remain unsold at the termination of the offering.
(b)          The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that
is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)          Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant
of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action,
suit, or proceeding) is asserted by such director, officer, or controlling person connected with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication.
SIGNATURES
Pursuant to the requirements of the Securities Act of
1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in
the City of Minneapolis, State of Minnesota, on May 28, 2015.
MGC DIAGNOSTICS CORPORATION
By
/s/  Todd M. Austin
Todd M. Austin
POWER OF ATTORNEY
The undersigned officers and directors
of MGC Diagnostics Corporation hereby constitute and appoint Todd M. Austin and Wesley W. Winnekins, each acting alone, with power
to act as our true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for us and in our
stead, in any and all capacities to sign any and all amendments (including post-effective amendments) to this Registration Statement
and all documents relating thereto, and to file the same, with all exhibits thereto, and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto each attorney-in-fact and agent, full power and authority to do and
perform each and every act and thing necessary or advisable to be done in and about the premises, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that each attorney-in-fact and agent, or his or her
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of
the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities
indicated on May 28, 2015.
/s/ Todd M. Austin
Chief Executive Officer
Todd M. Austin
(principal executive officer)
/s/ Wesley W. Winnekins
Chief Financial Officer and Chief Operating Officer
Wesley W. Winnekins
(principal financial and accounting officer)
/s/ Mark W. Sheffert
Chairman of the Board, Director
Mark W. Sheffert
/s/ John R. Baudhuin
Director
John R. Baudhuin
/s/ Terrence W. Bunge
Director
Terrence W. Bunge
/s/ Wendy D. Lynch, Ph.D.
Director
Wendy D. Lynch, Ph.D.
/s/ Robert E. Munzenrider
Director
Robert E. Munzenrider
/s/ Hendrik Struik
Director
Hendrik Struik