Nyxoah launches IPO on Euronext Brussels
Healthtech company Nyxoah has announced the terms for its initial public offering (IPO) on Euronext Brussels. The offering aims to raise capital for the commercialization of the company's sleep apnea treatment system.
Belgian healthtech firm Nyxoah S.A. has announced the terms for its initial public offering (IPO) on the regulated market of Euronext Brussels. The company focuses on developing and commercializing solutions for sleep-disordered breathing.
The offering consists of up to 3,871,000 new shares, with an option to increase this by up to 15 percent. The indicative price range for the shares is set between €14.00 and €17.00 per share. Assuming the mid-point of the price range, the offering is expected to raise between €60 million and €79 million, depending on the final price and full exercise of the overallotment option.
Nyxoah intends to use the net proceeds from the offering to fund the commercialization of its Genio® system and support ongoing and future clinical studies. The company has obtained CE marking for Genio® in Europe, but notes that clinical efficacy is not yet fully demonstrated and future market authorizations, such as in the U.S., are not guaranteed.
The company has previously reported operating losses and an accumulated deficit since its inception. Nyxoah stated that it does not have sufficient working capital to meet its needs for at least 12 months from the date of the prospectus without the proceeds of the offering. The IPO aims to secure future funding to meet its capital expenditure requirements.
Degroof Petercam SA/NV and Belfius Banque SA/NV are acting as Joint Global Coordinators and Bookrunners for the offering. Belfius Banque SA/NV will also act as Stabilisation Manager.