Publication relating to transparency notifications

Rhea-AI Summary

Nyxoah SA announced receiving a transparency notification from Vestal Point Capital regarding changes in voting rights holdings. According to the notification dated May 27, 2025, Vestal Point Capital reduced its position to 1,809,843 voting rights, representing 4.84% of total voting rights (37,427,265) as of May 21, 2025. This represents a significant decrease from their previous holding of 3,000,688 voting rights. Vestal Point Capital, LP is controlled by Vestal Point Capital, LLC as general partner, which is in turn controlled by Ryan Wilder as managing member. The notification was triggered by crossing below the 5% threshold.

Positive

• None.

Negative

• Vestal Point Capital reduced its position from 3,000,688 to 1,809,843 voting rights, indicating decreased institutional confidence
• The fund's ownership dropped below the significant 5% threshold

Insights

Financial Analyst

Vestal Point Capital has reduced its stake in Nyxoah from above 5% to 4.84%, potentially signaling reduced confidence.

This transparency notification reveals a significant reduction in Vestal Point Capital's position in Nyxoah. The investment firm has decreased its holdings from 3,000,688 to 1,809,843 voting rights, representing a drop from above 5% to 4.84% of total voting rights as of May 21, 2025.

This reduction is material enough to trigger mandatory regulatory disclosure requirements under Belgian law, as the investor has crossed below the 5% reporting threshold. The nearly 40% reduction in Vestal Point's position (approximately 1.19 million shares) represents a notable change in ownership structure for Nyxoah.

The notification clarifies the control structure behind these holdings: Vestal Point Capital, LP serves as the investment manager with discretionary voting power, controlled by Vestal Point Capital, LLC (the general partner), which is in turn controlled by Ryan Wilder as managing member.

When institutional investors of this size reduce positions, it often warrants attention as it may reflect their assessment of the company's prospects, valuation concerns, portfolio rebalancing, or risk management decisions. The timing and magnitude of this position reduction could influence market sentiment among other institutional and retail investors watching ownership patterns.

                

REGULATED INFORMATION

Publication relating to transparency notifications

Mont-Saint-Guibert (Belgium), May 30, 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.

Vestal Point Capital

On May 27, 2025, Nyxoah received a transparency notification from Vestal Point Capital following an acquisition or disposal of voting securities or voting rights. Based on the notification, Vestal Point Capital holds 1,809,843 voting rights, representing 4.84% of the total number of voting rights on May 21, 2025 (37,427,265).

The notification dated May 27, 2025 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:
  • Vestal Point Capital, LLC (with address at 632 Broadway, Suite 602, New York, NY 10012, USA)
  • Vestal Point Capital, LP (with address at 632 Broadway, Suite 602, New York, NY 10012, USA)
  • Ryan Wilder (with address at 632 Broadway, Suite 602, New York, NY 10012, USA)
• Date on which the threshold was crossed: May 21, 2025
• Threshold that is crossed: 5%
• 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
Ryan Wilder	0	0	0	0.00%	0.00%
Vestal Point Capital, LLC	0	0	0	0.00%	0.00%
Vestal Point Capital, LP	3,000,688	1,809,843	0	4.84%	0.00%
Subtotal	3,000,688	1,809,843		4.84%
	TOTAL	1,809,843	0	4.84%	0.00%

• Full chain of controlled undertakings through which the holding is effectively held: Vestal Point Capital, LP (investment manager) is controlled by Vestal Point Capital, LLC (general partner). Vestal Point Capital, LLC is controlled by Mr. Ryan Wilder (managing member).
• Additional information: Vestal Point Capital, LP is the investment management company that can exercise the voting rights at its discretion, in the absence of specific instruction.

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

Attachment

• 2025 05 30 PR Transparency notifications 2025 05 (Vestal Point) (ENG)

FAQ

What is Vestal Point Capital's current ownership percentage in Nyxoah (NYXH)?

As of May 21, 2025, Vestal Point Capital holds 1,809,843 voting rights in Nyxoah, representing 4.84% of total voting rights.

How many shares did Vestal Point Capital sell in Nyxoah (NYXH)?

Vestal Point Capital reduced its position from 3,000,688 to 1,809,843 voting rights, representing a reduction of 1,190,845 voting rights.

Who controls Vestal Point Capital's investment in Nyxoah (NYXH)?

Vestal Point Capital, LP is controlled by Vestal Point Capital, LLC as general partner, which is controlled by Ryan Wilder as managing member.

What triggered the transparency notification for Nyxoah (NYXH)?

The notification was triggered when Vestal Point Capital crossed below the 5% ownership threshold on May 21, 2025.

What is the total number of voting rights in Nyxoah (NYXH)?

The total number of voting rights in Nyxoah is 37,427,265 as of May 21, 2025.