Company: NYXH
Filing Date: 2025-08-11
Form Type: 6-K
Source: 0001104659-25-075831
Chunk: 13

Company: Nyxoah SA
Filing Date: 2025-08-11
Form: 6-K
Chunk 13
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 may not adequately protect us from a serious disaster.

We have become increasingly
subject to the risks arising from adverse changes in market and economic and political conditions, both domestically and globally, including
trends toward protectionism and nationalism, other unfavorable changes in economic conditions as well as disruptions in global credit
and financial markets, such as inflation, failures and instability in U.S. and international banking systems, downgrades of the U.S. credit
rating, rising interest rates, slower economic growth or a recession, and other events beyond our control, such as natural disasters,
pandemics such as the COVID-19 (coronavirus), epidemics, political instability, and armed conflicts and wars, including the ongoing conflict
between Russia and Ukraine, and the war between Israel and Hamas.

Increases in inflation could
raise our costs for commodities, labor, materials and services and other costs required to grow and operate our business, and failure
to secure these on reasonable terms may adversely impact our financial condition. Additionally, increases in inflation, along with the
uncertainties surrounding geopolitical developments and global supply chain disruptions, have caused, and may in the future cause, global
economic uncertainty and uncertainty about the interest rate environment. A failure to adequately respond to these risks could have a
material adverse impact on our financial condition, results of operations or cash flows. In response to high levels of inflation and recession
fears, the U.S. Federal Reserve, the European Central Bank, and the Bank of England have raised, and may continue to raise, interest rates
and implement fiscal policy interventions. Even if these interventions lower inflation, they may also reduce economic growth rates, create
a recession, and have other similar effects.

The U.S. debt ceiling and
budget deficit concerns have increased the possibility of credit-rating downgrades and economic slowdowns, or a recession in the United
States. Although U.S. lawmakers have previously passed legislation to raise the federal debt ceiling on multiple occasions, there is a
history of ratings agencies lowering or threatening to lower the long-term sovereign credit rating on the United States given such uncertainty.
On August 1, 2023, Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA
as a result of these repeated debt ceiling and budget deficit concerns. Additionally, on May 16, 2025, Moody’s downgraded the U.S.
sovereign credit rating from “Aaa” to “Aa1.” The impact of this or any further