Why Is NYXH Stock Falling Today?

The company priced its stock offering on Friday at a steep discount, with proceeds to be used to expand commercialization activities in the United States.

• Nyxoah said it is offering more than 55 million ordinary shares to investors in the U.S. and Europe to raise $95 million.
• Underwriters also have the option to purchase up to an additional 8.3 million ordinary shares at the offering price for up to 30 days.
• On Thursday, the company said it would look for a U.S.-based CEO to ramp up sales of its flagship offering, Genio.

Shares of Nyxoah (NYXH) were in the spotlight on Friday after the medical technology company disclosed pricing details for the $95 million public offering of its ordinary shares.

At the time of writing, NYXH stock was down nearly 47% and was on track for its biggest one-day percentage drop ever.

Pricing Of The Offering

The company said that it is offering investors in the U.S. and Europe more than 55 million ordinary shares at $1.72 or €1.48 apiece, before underwriting discounts and commissions.

The USD offer price represents a more than 40% discount to the stock’s last closing price on Thursday, while the EUR offer price is at over a 39% discount to the stock’s trading price on Euronext on Friday. Underwriters also have the option to purchase up to an additional 8.3 million ordinary shares at the offering price for up to 30 days.

Big US Expansion Plans

Nyxoah, which makes sleep apnea devices and has primary operations in Belgium, said it will largely use the money to expand commercialization activities in the United States. This comes following its Thursday announcement that it would look for a U.S.-based CEO to ramp up sales of its flagship offering, Genio.

The money will also be used for Genio research and development, and to advance its launch outside U.S. markets

What Do Retail Traders Think About NYXH?

On Stocktwits, retail sentiment about the NYXH stock turned ‘extremely bullish’ from ‘bearish’ over the last 24 hours. One user called the pullback in shares an overreaction.

NYXH stock has lost more than 67% in value so far this year and more than 80% over the last 12 months, underperforming the benchmark S&P Index.

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