Day: July 3, 2024

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Nyxoah Has Signed a €37.5 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 €37.5 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 €37.5 million facility is divided into three tranches: €10 million for the first tranche (“Tranche A”), €13.75 million for the second tranche (“Tranche B”) and €13.75 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 €8,11 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 €48.5 million, providing us a combined access to over €80 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

Attachment

• ENGLISH_Nyxoah Has Signed a Senior Loan Facility Agreement with the EIB

GlobeNewswire Distribution ID 1000969769

• Apparel Group hosted a lifestyle shoot in partnership with Anantara The Palm Resort, showcasing their summer collections that are available in store and on 6thstreet.com.
• Celebrating Summer Time with Apparel Group Brands – Aldo, Aldo Accessories, Ardene, Asics, Athlete’s Co., Beverly Hills Polo Club, Birkenstock, Calvin Klein, Charles & Keith, Cold Stone Creamery, Crocs, Dune London, F5 Global, Forest Essentials, Forever New, Havaianas, Herschel, Inglot, Jamie’s Italian, La Vie En Rose, LC Waikiki, LCW Home, New Yorker, Nine West, Not Ordinary, Nysaa, R&B Kids, Rituals, Skechers, Steve Madden, The Children’s Place, Tim Hortons and Tommy Hilfiger

DUBAI, United Arab Emirates, July 03, 2024 (GLOBE NEWSWIRE) — Apparel Group, a leading retail and lifestyle conglomerate, is excited to announce the release of their newest Summer Time campaign showcasing summer collections from more than 36 Apparel Group brands. In collaboration with Anantara The Palm Resort, this lifestyle shoot combines the fashion-forward expertise of Apparel Group with the luxurious ambiance and pristine settings, promising a summer collection that redefines style and elegance.

Mrs. Sima Ganwani Ved, Founder and Chairwoman of Apparel Group, expressed her enthusiasm for the launch, stating, “We are so excited to share Apparel Group’s summer look-book for 2024, with over 36 of Apparel Group international and home grown brands, each bringing their unique flair to this exciting season. This summer campaign is not just about showcasing our summer collection but creating a lifestyle experience that resonates with our customers.”

Apparel Group Launches Exciting ‘Summer-Time’ Campaign 2024 Featuring More than 36 of Their Brands

The summer campaign features a stellar lineup of Apparel Group’s celebrated international and home grown brands, including Aldo, Aldo Accessories, Ardene, Asics, Athlete’s Co., Beverly Hills Polo Club, Birkenstock, Calvin Klein, Charles & Keith, Cold Stone Creamery, Crocs, Dune London, F5 Global, Forest Essentials, Forever New, Havaianas, Herschel, Inglot, Jamie’s Italian, La Vie En Rose, LC Waikiki, LCW Home, New Yorker, Nine West, Not Ordinary, Nysaa, R&B Kids, Rituals, Skechers, Steve Madden, The Children’s Place, Tim Hortons and Tommy Hilfiger. Each brand will bring its unique style and flair, offering everything from casual chic to summer glamour. The collection promises to cater to a wide range of style preferences, ensuring there is something special for everyone.

Customers eager to embrace the summer vibes can look forward to shopping the collection on Apparel Group store outlets and e-commerce platform, 6thStreet.com, where the full range of products will be available. Blending retail innovation with luxury hospitality, this campaign highlights the synergy between Apparel Group and Anantara The Palm Resort catering to residents and tourists positioning the region as the ultimate summer destination.

Stay tuned for a summer of style, sophistication, and scenic beauty, exclusively brought to you by Apparel Group and Anantara The Palm Resort.

ABOUT APPAREL GROUP LLC

Apparel Group is a global fashion and lifestyle retail conglomerate residing at the crossroads of the modern economy – Dubai, United Arab Emirates. Today, Apparel Group caters to thousands of eager shoppers through its 2200+ retail stores and 85+ brands on all platforms while employing over 22,000+ multicultural staff.

Apparel Group has carved its strong presence in the GCC and expanded thriving gateways to market in India, South Africa, Singapore, Indonesia, Thailand, Malaysia, and Egypt. Additionally, clear strategies are in place to enter emerging markets such as Hungary and Philippines.

Apparel Group has created an omni-channel experience, operating brands originating from the USA, Canada, Europe, Australia, and Asia. The brands include leading names in fashion, footwear, and lifestyles such as Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Jamie’s Italian, Tim Hortons, Cold Stone Creamery, Inglot, and Rituals.

Apparel Group owes its amazing growth to the vision and guidance of its dynamic Founder and Chairwoman, Mrs. Sima Ganwani Ved, who has taken the company from strength to strength since its inception in the last two decades.

https://apparelglobal.com/en/
PR@apparelglobal.com

About Anantara The Palm Resort

Anantara is a luxury hospitality brand for modern travellers, connecting them to genuine places, people and stories through personal experiences, and providing heartfelt hospitality in the world’s most exciting destinations. The collection of distinct, thoughtfully designed luxury hotels and resorts provides a window through which to journey into invigorating new territory, curating personal travel experiences.

From cosmopolitan cities to desert sands to lush islands, Anantara connects travellers to the indigenous, grounds them in authentic luxury, and hosts them with passionate expertise. The portfolio currently boasts over 40 stunning hotels and resorts located in Thailand, Maldives, Indonesia, Vietnam, China, Cambodia, Malaysia, Sri Lanka, Mauritius, Seychelles, Mozambique, Zambia, UAE, Qatar, Oman, Tunisia, Portugal, Spain, Hungary, The Netherlands, Italy, Ireland and France, with a pipeline of future properties across Asia, the Middle East, Europe and South America.

For more information on Anantara Hotels, Resorts & Spas, please visit www.anantara.com

Follow us on Facebook: www.facebook.com/anantara; Twitter and Instagram: @anantara_hotels

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3c050648-49b9-4720-bd36-03eee8be5739

https://www.globenewswire.com/NewsRoom/AttachmentNg/30b0f74f-7194-40d2-9530-8abe169e79c0

GlobeNewswire Distribution ID 9172820