October 26, 2020

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Sleep apnea fighter Nyxoah brings even more stocks public …

Sleep apnea fighter Nyxoah brings even more stocks public ...

Health technology company Nyxoah will issue 650,250 additional new shares next Tuesday. As a result, the Walloon-Brabant company will have received an additional 11.05 million euros in gross proceeds from the IPO. Nyxoah has developed a technology against sleep apnea and the associated nocturnal snoring.

In a press release on Friday morning in front of the stock exchange, Nyxoah reported that the so-called “over-allotment option” was exercised. This option therefore offers the opportunity to increase the number of shares.

The anti-snoring company will have sold 4,985,250 shares. As a result, the gross proceeds of the IPO are $ 84.75 million, or $ 100 million. Money that Nyxoah plans to use primarily to conduct clinical trials in the US, Europe and Australia and to develop new products.

In the run-up to the IPO, it became clear that the share was very popular. The introductory price was set at 17 euros at the top of the fork. It also issued more shares than expected (4.3 million instead of 3.9 million), and the offering closed a week earlier than expected. The launch took place on September 18th at Euronext Brussels.

ALSO READ. Most successful IPO in five years, but specialists skeptical of “panacea” for sleep apnea: “No guarantee of success”