Nyxoah Has Signed a EUR37.5 Million Loan Facility Agreement with the
European Investment Bank

EQS-News: Nyxoah SA. / Key word(s): Financing
Nyxoah Has Signed a EUR37.5 Million Loan Facility Agreement with the European
Investment Bank

03.07.2024 / 12:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Nyxoah Has Signed a EUR37.5 Million Loan Facility Agreement with the European
Investment Bank

Mont-Saint-Guibert, Belgium - July 3, 2024, 12:30pm CET / 6:30am ET - Nyxoah
SA (Euronext Brussels/Nasdaq: NYXH) ("Nyxoah" or the "Company"), a medical
technology company focused on the development and commercialization of
innovative solutions to treat Obstructive Sleep Apnea ("OSA"), today
announced that it has signed a EUR37.5 million loan facility agreement with
the European Investment Bank ("EIB"). The agreement is backed by the
European Commission's InvestEU program. Nyxoah plans to use the funding for
research and development, and for scaling-up its manufacturing capacity to
meet demand in Europe and the U.S.

The EUR37.5 million facility is divided into three tranches: EUR10 million for
the first tranche ("Tranche A"), EUR13.75 million for the second tranche
("Tranche B") and EUR13.75 million for the third tranche ("Tranche C").
Disbursement under the various tranches is subject to certain conditions.
Tranche A carries an annual 5% cash and 5% capitalized interest rate, and
features a five-year bullet repayment schedule. The various tranches do not
contain revenue or liquidity covenants.

In connection with the loan facility agreement, and as a condition to
drawdown thereunder, the Company also intends to enter into a "synthetic
warrant agreement" with the EIB. Under the intended synthetic warrant
agreement, in consideration for the facility, in connection with each
tranche of the facility, the EIB will be granted "synthetic warrants" with a
duration of 20 years. The number and strike price of the synthetic warrants
will be calculated based on tranche specific formulas provided for in the
synthetic warrant agreement. The synthetic warrants can be exercised as of
the maturity date of the relevant tranche of the facility or, in exceptional
situations, earlier. Such synthetic warrants will entitle the EIB to receive
from the Company a cash consideration equal to the 20-day volume weighted
average price of a share in the Company on the stock exchange, reduced by
the applicable strike price per synthetic warrant, and multiplied by the
number of synthetic warrants that the EIB exercises. In connection with
Tranche A, it is expected that the EIB will be granted 468,384 synthetic
warrants with a strike price of EUR8,11 that the EIB can exercise after the
maturity of Tranche A (5 years) or, in exceptional situations, earlier.

Since certain provisions of the loan facility agreement and the synthetic
warrant agreement are dependent on a change of control, those provisions
will be submitted for approval to a shareholders' meeting of the Company in
accordance with article 7:151 of the Belgian Companies and Associations
Code.

EIB Vice-President Robert de Groot said: "Belgium stands at the forefront of
innovation in the area of life sciences and med tech. As the EIB, we take
pride in supporting this thriving industry and fostering growth. Nyxoah,
with its groundbreaking approach, is making a valuable contribution. We are
eager to see the company progressing, benefitting patients worldwide."

Olivier Taelman, CEO of Nyxoah, commented: "We are excited and grateful for
the support and confidence in our cutting-edge technology shown by the
European Investment Bank. This loan follows our recent successful equity
offering where we raised EUR48.5 million, providing us a combined access to
over EUR80 million in growth capital. This will aid in the commercialization
of Genio in Europe and in the U.S., if approved, while helping increase
production capacity and sustain innovation."

About Nyxoah

Nyxoah is a medical technology company focused on the development and
commercialization of innovative solutions to treat Obstructive Sleep Apnea
(OSA). Nyxoah's lead solution is the Genio® system, a patient-centered,
leadless and battery-free hypoglossal neurostimulation therapy for OSA, the
world's most common sleep disordered breathing condition that is associated
with increased mortality risk and cardiovascular comorbidities. Nyxoah is
driven by the vision that OSA patients should enjoy restful nights and feel
enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio®
system received its European CE Mark in 2019. Nyxoah completed two
successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July
2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah
received CE mark approval for the expansion of its therapeutic indications
to Complete Concentric Collapse (CCC) patients, currently contraindicated in
competitors' therapy. Additionally, the Company announced positive outcomes
from the DREAM IDE pivotal study for FDA and U.S. commercialization
approval.

For more information, please see the Company's annual report for the
financial year 2023 and visit http://www.nyxoah.com/.

Caution - CE marked since 2019. Investigational device in the United States.
Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are
forward-looking, which reflect the Company's or, as appropriate, the Company
directors' or managements' current expectations regarding the entry into of
the loan facility agreement and the synthetic warrant agreement with the
EIB; the use of proceeds from the loan facility agreement; the Genio® system
and ongoing clinical studies of the Genio® system; the potential advantages
of the Genio® system; Nyxoah's goals with respect to the development,
regulatory pathway and potential use of the Genio® system; the utility of
clinical data in potentially obtaining FDA approval of the Genio® system;
reporting data from Nyxoah's DREAM U.S. pivotal trial; filing for FDA
approval; and entrance to the U.S. market. By their nature, forward-looking
statements involve a number of risks, uncertainties, assumptions and other
factors that could cause actual results or events to differ materially from
those expressed or implied by the forward-looking statements. These risks,
uncertainties, assumptions and factors could adversely affect the outcome
and financial effects of the plans and events described herein.
Additionally, these risks and uncertainties include, but are not limited to,
the risks and uncertainties set forth in the "Risk Factors" section of the
Company's Annual Report on Form 20-F for the year ended December 31, 2023,
filed with the Securities and Exchange Commission ("SEC") on March 20, 2024,
and subsequent reports that the Company files with the SEC. A multitude of
factors including, but not limited to, changes in demand, competition and
technology, can cause actual events, performance or results to differ
significantly from any anticipated development. Forward looking statements
contained in this press release regarding past trends or activities are not
guarantees of future performance and should not be taken as a representation
that such trends or activities will continue in the future. In addition,
even if actual results or developments are consistent with the
forward-looking statements contained in this press release, those results or
developments may not be indicative of results or developments in future
periods. No representations and warranties are made as to the accuracy or
fairness of such forward-looking statements. As a result, the Company
expressly disclaims any obligation or undertaking to release any updates or
revisions to any forward-looking statements in this press release as a
result of any change in expectations or any change in events, conditions,
assumptions or circumstances on which these forward-looking statements are
based, except if specifically required to do so by law or regulation.
Neither the Company nor its advisers or representatives nor any of its
subsidiary undertakings or any such person's officers or employees
guarantees that the assumptions underlying such forward-looking statements
are free from errors nor does either accept any responsibility for the
future accuracy of the forward-looking statements contained in this press
release or the actual occurrence of the forecasted developments. You should
not place undue reliance on forward-looking statements, which speak only as
of the date of this press release.

Contacts:

Nyxoah
David DeMartino, Chief Strategy Officer
IR@nyxoah.com

For Media
Belgium/France
Backstage Communication - Gunther De Backer
gunther@backstagecom.be

International/Germany
MC Services - Anne Hennecke
anne.hennecke@mc-services.eu


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03.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Nyxoah SA.
                   Rue Edouard Belin 12
                   1435 Mont-Saint-Guibert
                   Belgium
   E-mail:         info@nyxoah.com
   Internet:       www.nyxoah.com
   ISIN:           BE0974358906
   WKN:            A2QCWK
   Listed:         Regulated Unofficial Market in Dusseldorf, Frankfurt,
                   Munich, Stuttgart
   EQS News ID:    1938477

End of News EQS News Service
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1938477 03.07.2024 CET/CEST