NYXH Nyxoah
Price Chart
Executive Summary
Nyxoah priced a $95M underwritten public offering of ~55.2M shares at $1.72/share, a ~24% discount to the prior close implied by the $126M pre-deal market cap. The massive dilution (~67% of shares outstanding) signals acute cash needs; the company also plans to draw €13.8M from its EIB loan in Q2 2026. Proceeds are earmarked for US commercialization, R&D, and general corporate purposes.
Key Financial Metrics
Actionable Insight
Massive dilutive offering at a deep discount signals significant capital needs and likely crushes near-term equity value. Watch for the stock to reprice below the offering price post-close; any secondary or insider participation at this level does not change the arithmetic of 2/3 dilution. The EIB draw adds further debt overhang. Avoid the equity until the offering settles and price discovery resumes.
Key Facts
- Priced 55,232,558 ordinary shares at $1.72/share for ~$95M gross proceeds
- Underwriters have a 30-day option to purchase up to 8,284,883 additional shares
- Offering is being made under an effective shelf registration on Form F-3 (File No. 333-285982)
- Expected to close on or around June 9, 2026
- Nyxoah intends to draw €13.8M from the second tranche of its EIB loan in Q2 2026
- Chairman Robert Taub and independent directors Jürgen Hambrecht and Kevin Rakin expressed interest in participating in the offering
- A committee of independent directors assessed the related-party participation and concluded the transaction is on market terms
Financial Impact
$95M gross proceeds; ~67% dilution on a base of ~82.5M shares pre-offering (approximately 66.8M shares outstanding per the company's last 20-F plus the 55.2M new shares); offering price of $1.72/share
Risk Factors
- Extreme dilution — the offering adds ~67% to the share count, severely depressing per-share metrics
- Potential overhang from the underwriters' option (additional 8.3M shares) and the planned EIB draw of €13.8M
- Commercialization of the Genio system in the US may not generate sufficient revenue to justify the capital raise
- The stock may trade below the $1.72 offering price as the market absorbs the new supply
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3307491 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
3d ago
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6-K
| $1.49 awaiting T+5 | awaiting T+5 | — | $1.39 (+6.40%) |
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Jun 8, 2026
6d ago
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6-K
| $1.36 awaiting T+5 | awaiting T+5 | — | $1.39 (−2.21%) |
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Jun 8, 2026
6d ago
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424B5
| $1.69 awaiting T+5 | awaiting T+5 | — | $1.39 (+17.75%) |
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Jun 5, 2026
9d ago
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Press Release
| $1.59 awaiting T+5 | awaiting T+5 | — | $1.39 (+12.58%) |
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Jun 4, 2026
10d ago
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424B5
| $1.73 awaiting T+5 | awaiting T+5 | — | $1.39 (+19.65%) |
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May 20, 2026
25d ago
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Press Release
| $2.87 $2.99 | ▲ +4.18% | ▲ +2.58% | $1.39 (−51.57%) |
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May 12, 2026
4w ago
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Press Release
| $3.08 $2.81 | ▼ −8.77% | ▼ −7.61% | $1.39 (−54.87%) |
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Mar 19, 2026
12w ago
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Press Release
| $3.08 $2.82 | ▼ −8.44% | ▼ −6.29% | $1.39 (−54.87%) |
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Mar 5, 2026
14w ago
|
Press Release
| $3.74 $3.14 | ▼ −16.04% | ▼ −14.51% | $1.39 (−62.83%) |
US Market Status
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