Nyxoah Signs €37.5 Million Loan Agreement with European Investment Bank

Mont-Saint-Guibert, Belgium - Nyxoah SA, a company specializing in medical technology for treating Obstructive Sleep Apnea (OSA), has secured a €37.5 million loan from the European Investment Bank (EIB). This funding, supported by the European Commission’s InvestEU program, will be used to advance research and development, as well as scale up manufacturing capabilities in Europe and the United States.

The loan is structured in three tranches: €10 million for the first tranche, €13.75 million for the second, and €13.75 million for the third. Conditions apply to the disbursement of these funds. The first tranche has an annual interest rate of 5% cash and 5% capitalized, with a five-year bullet repayment schedule. There are no revenue or liquidity covenants involved.

Additionally, Nyxoah will enter into a synthetic warrant agreement with the EIB. This agreement grants the EIB synthetic warrants based on tranche-specific formulas, enabling the EIB to receive cash consideration tied to Nyxoah's stock performance. Pending shareholder approval, these terms are governed by article 7:151 of the Belgian Companies and Associations Code.

EIB Vice-President Robert de Groot emphasized Belgium's role in life sciences innovation and expressed support for Nyxoah’s initiatives. Nyxoah CEO Olivier Taelman highlighted the strategic importance of this loan, complementing the company's recent equity fundraising.