Nyxoah plans Euronext listing to raise up to €79 million
Health tech company Nyxoah announced plans for an initial public offering on Euronext Brussels. The company aims to raise up to €79 million to fund its growth and expand its business operations.
Health technology firm Nyxoah S.A. intends to list on Euronext Brussels through an initial public offering (IPO), aiming to raise up to €79 million. The company develops and commercializes solutions for sleep-disordered breathing.
The offering, which includes up to 3,871,000 new shares with a potential 15% overallotment option, is priced between €14 and €17 per share. Based on the midpoint of this range, the total offering could be valued between €60 million and €79 million, assuming full placement and exercise of options.
Nyxoah's Genio® system has received CE marking for the European market. However, the company cautions that clinical efficacy is not yet fully demonstrated, and future commercial success depends on ongoing and future clinical trials, as well as commercial acceptance and reimbursement. The company has historically incurred operating losses and negative cash flows, and its ability to achieve profitability remains uncertain.
The company stated it requires additional capital to meet its future needs and currently has insufficient working capital for at least the next twelve months without the proceeds from the offering. Bank Degroof Petercam and Belfius Bank are acting as joint global coordinators and joint bookrunners for the offering.
Details regarding the final offering price and listing date are expected to be announced subsequently. The offering is structured with placements to institutional and retail investors in Belgium, qualified institutional buyers in the United States, and other qualified investors globally.