- Nyxoah successfully raises up to €85 million
- The IPO was multiple times oversubscribed and closed ahead of schedule
- Nyxoah is the first Belgian participant to Euronext’s Techshare programme to carry out an IPO
Belgium-based healthtech company Nyxoah (ticker symbol: NYXH) today began trading on Euronext Brussels (Compartment B), with an initial market capitalisation of €364.21 million, or up to €375.26 million assuming the exercise in full of the Over-allotment Option. Nyxoah is the first Belgian alumni of TechShare, Euronext’s pre-IPO programme, to go public. With this IPO, the company joins a large franchise of 89 life science companies (52 biotech and 37 medtech companies) currently listed on Euronext’s markets, representing a total market capitalisation of €22 billion (per 31 August 2020).
Based in Mont-Saint-Guibert (Belgium), Nyxoah is a healthtech company focused on the development and commercialization of innovative solutions and services to treat sleep disordered breathing conditions. Nyxoah intends to use the proceeds of the IPO to conduct clinical trials in the United States, Europe and Australia, and to fund product development, R&D, marketing strategy and commercialization.
The Offering was a resounding success with international and local investors. With an Offer Price at €17.00 per share, Nyxoah’s gross proceeds from the Offering will amount to approximately €73.70 million, or up to €84.75 million if the Over-allotment Option is exercised in full. With a total of 4,335,000 shares admitted to trading, Nyxoah has an initial market capitalisation of approximately €364.21 million, or up to €375.26 million if the Over-allotment Option is exercised in full.
Olivier Taelman, Chief Executive Officer of Nyxoah, said: “The successful IPO of Nyxoah validates the unique and disruptive character of the Nyxoah solution for Obstructive Sleep Apnea and confirms the existing unmet need in this large and growing global OSA market. The concrete strong interest from leading global investors in combination with the continued support of the existing investors will enable the Company to further execute on its strategy. We warmly welcome the new investors and thank the existing ones for their trust.”
To mark Nyxoah’s first trading day, Olivier Taelman, Chief Executive Officer of Nyxoah, rang the bell to open the markets in Brussels today.