Publication relating to transparency notifications

Rhea-AI Summary

Nyxoah (NASDAQ:NYXH) reported two transparency notifications under Belgian disclosure rules after changes in major shareholdings as of June 10, 2026.

Entities controlled by Orin Hirchman now hold 14,534,880 voting rights, or 14.55% of Nyxoah’s 99,926,284 shares. Resmed passively moved below the 3% threshold and now holds 1,943,828 voting rights, or 1.95%.

Positive

• AIGH-controlled funds disclose a consolidated 14,534,880 voting rights stake, representing 14.55% of Nyxoah
• Clear identification of ultimate control structure for AIGH-related holdings in Nyxoah

Negative

• Resmed stake falls below 3% threshold to 1,943,828 voting rights, or 1.95%

News Market Reaction – NYXH

+2.42%

+2.42% Session close to close

In the Jun 30 session, NYXH gained 2.42%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement clarifies major holders, with AIGH entities at 14.55% and Resmed at 1.95% of votin...

Analysis

This announcement clarifies major holders, with AIGH entities at 14.55% and Resmed at 1.95% of voting rights. It follows significant June equity issuance; investors may watch future threshold changes and any governance or strategic shifts from key shareholders.

Key Figures

AIGH voting rights: 14,534,880 voting rights AIGH ownership percentage: 14.55% Share denominator: 99,926,284 shares +5 more

8 metrics

AIGH voting rights 14,534,880 voting rights Entities controlled by Orin Hirchman as of June 10, 2026

AIGH ownership percentage 14.55% Share of Nyxoah’s total issued shares on June 10, 2026

Share denominator 99,926,284 shares Total number of Nyxoah shares issued on June 10, 2026

AIGH Investment Partners holding 10,555,230 voting rights (10.56%) AIGH Investment Partners, LP linked to securities after transaction

WVP AIGH Series holding 3,979,650 voting rights (3.98%) WVP Emerging Manager Onshore Fund LLC - AIGH Series after transaction

Resmed previous holding 1,727,864 voting rights Resmed’s previously notified voting rights before June 10, 2026

Resmed current holding 1,943,828 voting rights (1.95%) Resmed’s voting rights after passive threshold crossing on June 10, 2026

Ownership thresholds crossed 10% and 3% AIGH crossing 10% upward; Resmed crossing 3% downward

Historical Context

5 past events · Latest: Jun 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 23	Investor day announcement	Positive	+3.2%	Company scheduled New York investor and analyst day to discuss growth plans.
Jun 19	Shareholder meeting call	Neutral	-1.9%	Extraordinary meeting to renew board authorization to increase share capital.
Jun 17	Ownership disclosures	Neutral	-3.5%	Publication of multiple transparency notifications on significant shareholder positions.
Jun 17	Debt funding tranche	Positive	-3.5%	Receipt of $15M non‑dilutive EIB loan as part of June capital raise.
Jun 15	Industry award win	Positive	+1.9%	Genio therapy won Prix Galien UK 2026 award for Best Medical Technology.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

News flow has generally aligned with price moves, though one positive financing update coincided with a notable selloff.

Key Terms

transparency notifications, voting securities, voting rights, passive crossing of a threshold

4 terms

transparency notifications regulatory

"Publication relating to transparency notifications Mont‑Saint‑Guibert (Belgium), June 29, 2026"

Notifications that inform regulators, investors and the market when people or entities must disclose important ownership stakes, trades or other material information so everyone has the facts. Like an announcement on a neighborhood bulletin board when someone buys a big share of the building, these notices prevent hidden surprises, help ensure fair prices, and allow investors to judge changes in control or potential conflicts of interest.

voting securities financial

"following an acquisition of voting securities by entities controlled by Orin Hirchman"

Voting securities are financial instruments, most commonly common shares, that give the holder the right to vote on a company’s key decisions such as electing the board, approving mergers, or changing bylaws. They matter to investors because voting power determines who controls strategy and oversight—like having a say in household decisions—so the distribution of voting securities affects corporate direction, minority protection, and potential value outcomes.

voting rights financial

"held 14,534,880 voting rights, representing 14.55% of the total number of shares"

Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.

passive crossing of a threshold regulatory

"Reasons for the notification: Passive crossing of a thresholdDownward crossing of the lowest threshold"

Passive crossing of a threshold is when a measurable value — such as a stock price, regulatory metric, or financial ratio — drifts past a preset limit because of regular market movement or gradual change rather than an intentional action. Like water slowly rising over a mark on a jar, it can automatically trigger reporting duties, contract clauses, margin calls, or regulatory responses that affect liquidity, costs, or legal standing, so investors monitor such crossings to anticipate involuntary consequences.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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REGULATED INFORMATION

Publication relating to transparency notifications

Mont-Saint-Guibert (Belgium), June 29, 2026, 10:30 pm CET / 4:30 pm ET – In accordance with article 14 of the Law of May 2, 2007 on the disclosure of large shareholdings, Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) announces that it received transparency notifications as detailed below.

Orin Hirchman

On June 24, 2026, Nyxoah received a transparency notification from Orin Hirchman following an acquisition of voting securities by entities controlled by Orin Hirchman. Based on the notification, on June 10, 2026, the entities controlled by Orin Hirchman held 14,534,880 voting rights, representing 14.55% of the total number of shares issued by Nyxoah on June 10, 2026 (99,926,284).

The notification dated June 22, 2026 contains the following information:

• Reason for the notification: acquisition or disposal of voting securities or voting rights
• Notification by: a parent undertaking or a controlling person
• Persons subject to the notification requirement:
  • Orin Hirchman (with address at 6006 Berkeley Avenue, Baltimore MD 21209, USA)
  • AIGH Capital Management LLC (with address at 6006 Berkeley Avenue, Baltimore MD 21209, USA)
• Date on which the threshold was crossed: June 10, 2026
• Threshold that is crossed: 10%
• Denominator: 99,926,284
• Notified details:
  
  

A) Voting rights	Previous notification	After the transaction
	# of voting rights	# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Orin Hirchman		0		0.00%
AIGH Capital Management LLC		0		0.00%
AIGH Investment Partners, LP		10,555,230		10.56%
WVP Emerging Manager Onshore Fund LLC - AIGH Series		3,979,650		3.98%
Subtotal		14,534,880		14.55%
	TOTAL	14,534,880	0	14.55%	0.00%

• Full chain of controlled undertakings through which the holding is effectively held: AIGH Investment Partners, LP and WVP Emerging Manager Onshore Fund LLC - AIGH Series are two affiliated funds. AIGH Capital Management LLC is the Investment Adviser that makes the investment and voting decisions for the two funds. Orin Hirchman is the Manager of AIGH Capital Management, LLC and therefore the ultimate Control Person for the shares held in the two funds.
  
  

Resmed Inc.

On June 29, 2026, Nyxoah received a transparency notification from Resmed Inc. following the passive downward crossing of the lowest threshold.

The notification dated June 25, 2026 contains the following information:

• Reasons for the notification:
  • Passive crossing of a threshold
  • Downward crossing of the lowest threshold
• Notification by: a person that notifies alone
• Persons subject to the notification requirement:
  • Resmed, Inc. (with address at 9001 Spectrum Center Boulevard, San Diego, CA 92123, USA)
• Date on which the threshold was crossed: June 10, 2026
• Threshold that is crossed: 3%
• Denominator: 99,926,284
• Notified details:

A) Voting rights	Previous notification	After the transaction
	# of voting rights	# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Resmed, Inc.	1,727,864	1,943,828	0	1.95%	0.00%
	TOTAL	1,943,828		1.95%

• Full chain of controlled undertakings through which the holding is effectively held: No indirect holding of voting securities. Resmed Inc. is not a controlled entity.
  
  

*

* *

Contact:
Nyxoah
John Landry, CFO
IR@nyxoah.com

Attachment

• 2026 06 29 PR Transparency notification (AIGH Resmed) (ENG)

FAQ

What major shareholding did Orin Hirchman report in Nyxoah (NASDAQ:NYXH) on June 29, 2026?

Orin Hirchman-controlled entities reported holding 14,534,880 voting rights, equal to 14.55% of Nyxoah shares. According to Nyxoah, these rights are mainly held through AIGH Investment Partners, LP and WVP Emerging Manager Onshore Fund LLC - AIGH Series.

How much of Nyxoah (NYXH) does Resmed own after the June 2026 transparency notification?

Resmed owns 1,943,828 Nyxoah voting rights, representing 1.95% of shares. According to Nyxoah, this reflects a passive downward crossing of the 3% threshold based on a denominator of 99,926,284 shares on June 10, 2026.

Which thresholds were crossed in Nyxoah (NYXH) transparency notifications in June 2026?

The 10% and 3% voting rights thresholds were crossed. According to Nyxoah, AIGH-related entities moved above 10% to 14.55%, while Resmed passively moved below the 3% threshold to a 1.95% holding.

Who ultimately controls the 14.55% Nyxoah (NYXH) stake linked to AIGH funds?

The 14.55% stake is ultimately controlled by Orin Hirchman. According to Nyxoah, AIGH Capital Management LLC advises AIGH Investment Partners, LP and WVP Emerging Manager Onshore Fund LLC - AIGH Series, with Hirchman as Manager and ultimate control person.

What does the June 2026 Resmed transparency notification mean for Nyxoah (NYXH) shareholders?

Resmed’s holding declined below 3%, now at 1.95% of Nyxoah shares. According to Nyxoah, this was a passive threshold crossing, indicating Resmed no longer meets the lowest significant shareholding threshold under Belgian disclosure rules.

What is Nyxoah’s total number of shares used in the June 2026 NYXH transparency calculations?

Nyxoah used a denominator of 99,926,284 shares for the June 10, 2026 calculations. According to Nyxoah, this figure underpins both the 14.55% stake for AIGH-related entities and the 1.95% stake disclosed by Resmed.