Publication relating to transparency notifications

Rhea-AI Summary

Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) received a transparency notification from BlackRock, Inc. on January 16, 2025. The notification reveals that BlackRock and its controlled undertakings now hold 1,105,907 voting rights in Nyxoah, comprising 1,065,035 shares and 40,872 equivalent financial instruments. This represents 2.95% of total voting rights (37,427,265) as of January 14, 2025.

The change resulted in BlackRock crossing downward below the 3% threshold. The voting rights are distributed among various BlackRock entities, with BlackRock Advisors, holding the largest portion at 2.76%. The equivalent financial instruments include securities lent and contract differences, accounting for 0.10% of voting rights.

Insights

Financial Analyst

BlackRock's reduction of its stake in Nyxoah below the 3% threshold represents a notable shift in institutional ownership. The detailed breakdown shows BlackRock and its subsidiaries now hold 2.95% of total voting rights, comprising 1,065,035 shares and 40,872 equivalent financial instruments. The majority of these holdings (2.76%) are controlled through BlackRock Advisors,

The crossing below the 3% threshold could signal a strategic portfolio reallocation by one of the world's largest asset managers. For a small-cap company like Nyxoah with a market cap of $408M, changes in institutional ownership at this level can impact stock trading dynamics and market perception. The presence of securities lending and contracts for difference in BlackRock's position suggests a sophisticated approach to their investment, combining direct ownership with derivative exposure.

From a market microstructure perspective, this reduction might lead to increased volatility as it potentially reduces the stable institutional ownership base. Small-cap medical device companies often experience such ownership fluctuations, which can affect trading liquidity and price stability.

               

REGULATED INFORMATION

Publication relating to transparency notifications

Mont-Saint-Guibert (Belgium), January 20, 2025, 10:30 pm CET / 4:30 pm ET – In accordance with article 14 of the Act of 2 May 2007 on the disclosure of large shareholdings, Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) announces that it received a transparency notification as detailed below.

BlackRock, Inc.

On January 16, 2025, Nyxoah received a transparency notification from BlackRock, Inc. and related persons. Based on the notification, BlackRock, Inc. (together with its controlled undertakings) holds 1,105,907 voting rights, consisting of 1,065,035 shares and 40,872 equivalent financial instruments, representing 2.95% of the total number of voting rights on January 14, 2025 (37,427,265).

The notification dated January 15, 2025 contains the following information:

• Reason for the notification:
  • Acquisition or disposal of voting securities or voting rights
  • Downward crossing of the lowest threshold
• Notification by: a parent undertaking or a controlling person
• Persons subject to the notification requirement:
  • BlackRock, Inc. (with address at 50 Hudson Yards, New York, NY, 10001, U.S.A.)
  • BlackRock Advisors, LLC (with address at 50 Hudson Yards, New York, NY, 10001, U.S.A.)
  • BlackRock Financial Management, Inc. (with address at 50 Hudson Yards, New York, NY, 10001, U.S.A.)
  • BlackRock Fund Advisors (with address at 400 Howard Street, San Francisco, CA, 94105, U.S.A.)
  • BlackRock Institutional Trust Company, National Association (with address at 400 Howard Street, San Francisco, CA, 94105, U.S.A.)
  • BlackRock Investment Management (UK) Limited (with address at 12 Throgmorton Avenue, London, EC2N 2DL, U.K.)
  • BlackRock Investment Management, LLC (with address at 1 University Square Drive, Princeton, NJ, 8540, U.S.A.)
• Date on which the threshold was crossed: January 14, 2025
• Threshold that is crossed: 3%
• Denominator: 37,427,265
• 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
BlackRock, Inc.	0	0		0.00%
BlackRock Advisors, LLC	1,089,161	1,031,849		2.76%
BlackRock Financial Management, Inc.	6,167	6,167		0.02%
BlackRock Fund Advisors	255	255		0.00%
BlackRock Institutional Trust Company, National Association	2,551	2,551		0.01%
BlackRock Investment Management (UK) Limited	1,080	1,080		0.00%
BlackRock Investment Management, LLC	23,444	23,133		0.06%
Subtotal	1,122,658	1,065,035		2.85%
	TOTAL	1,065,035		2.85%

B) Equivalent financial instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights	Settlement
BlackRock Advisors, LLC	Securities Lent			38,900	0.10%	physical
BlackRock Fund Advisors	Securities Lent			200	0.00%	physical
BlackRock Financial Management, Inc.	Contract Difference			1,772	0.00%	cash
	TOTAL			40,872	0.10%

	TOTAL (A & B)			# of voting rights	% of voting rights
				1,105,907	2.95%

• Full chain of controlled undertakings through which the holding is effectively held:
  
  

BlackRock, Inc.
BlackRock Finance, Inc.
Trident Merger, LLC
BlackRock Investment Management, LLC

BlackRock, Inc.
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Finance Europe Limited
BlackRock Investment Management (UK) Limited

BlackRock, Inc.
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Institutional Trust Company, National Association

BlackRock, Inc.
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Fund Advisors

BlackRock, Inc.
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.

BlackRock, Inc.
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Capital Holdings, Inc.
BlackRock Advisors, LLC

• Additional information: The disclosure obligation arose due to total holdings in voting rights for BlackRock, Inc. going below 3%.
  
  

*

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

Attachment

• 2025 01 20 PR Transparency notification 2025 01 (BlackRock) (ENG)

FAQ

What percentage of Nyxoah (NYXH) does BlackRock own as of January 14, 2025?

As of January 14, 2025, BlackRock owns 2.95% of Nyxoah's total voting rights, consisting of 1,065,035 shares and 40,872 equivalent financial instruments.

How many voting rights does BlackRock hold in Nyxoah (NYXH)?

BlackRock holds 1,105,907 total voting rights in Nyxoah, comprising 1,065,035 shares and 40,872 equivalent financial instruments.

Which BlackRock entity holds the largest portion of Nyxoah (NYXH) shares?

BlackRock Advisors, holds the largest portion with 1,031,849 voting rights, representing 2.76% of total voting rights.

What triggered the transparency notification for Nyxoah (NYXH)?

The transparency notification was triggered by BlackRock's total holdings in voting rights going below the 3% threshold.