DJ EQS-News: Nyxoah Has Signed a EUR37.5 Million Loan Facility Agreement with the European Investment Bank

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EQS-News: Nyxoah SA. / Key word(s): Financing
Nyxoah Has Signed a EUR37.5 Million Loan Facility Agreement with the European Investment Bank
2024-07-03 / 12:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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
2024-07-03 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
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 2024-07-03 CET/CEST

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