Jaguar Health reduces royalty debt by $2.48M through issuance of Series H Convertible Preferred

Jaguar Health, Inc.

Issued 32 Series H Preferred shares to Uptown Capital for $756,992 reduction in December 2020 royalty interest.
Issued 73 Series H Preferred shares to Streeterville for $1,726,888 reduction in August 2022 royalty interest.
Each Series H share converts into 50,000 common shares at $0.47312; conversion capped at 9.99% beneficial ownership.
First Amendment to Standstill Agreement permits the exchange without terminating the standstill period.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Jaguar Health, Inc. entered into Streeterville Exchange Agreement with Streeterville Capital, LLC valued at Reduction of $1,726,888 in outstanding balance of August 2022 Royalty Interest in exchange for 73 sh (effective 2023-06-28).

Action: entry
Counterparty: Streeterville Capital, LLC
Value: Reduction of $1,726,888 in outstanding balance of August 2022 Royalty Interest in exchange for 73 sh
Effective: 2023-06-28

Exact text from the filing

and (ii) a privately negotiated exchange agreement with Streeterville (the "Streeterville Exchange Agreement;" together with the Uptown Exchange Agreement, the "Exchange Agreement"), pursuant to which the Company issued an aggregate of 73 shares of Series H Convertible Preferred Stock to Streeterville, at an effective exchange price per share equal to the market price as of the date of the Streeterville Exchange Agreement, in exchange for a $1,726,888 reduction in the outstanding balance of the August 2022 Royalty Interest

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Jaguar Health, Inc. entered into Uptown Exchange Agreement with Uptown Capital, LLC valued at Reduction of $756,992 in outstanding balance of December 2020 Royalty Interest in exchange for 32 sh (effective 2023-06-28).

Action: entry
Counterparty: Uptown Capital, LLC
Value: Reduction of $756,992 in outstanding balance of December 2020 Royalty Interest in exchange for 32 sh
Effective: 2023-06-28

Exact text from the filing

On June 28, 2023, the Company entered into (i) a privately negotiated exchange agreement with Uptown (the "Uptown Exchange Agreement"), pursuant to which the Company issued an aggregate of 32 shares of the Company's newly authorized Series H Convertible Preferred Stock (the "Series H Preferred Stock") to Uptown, at an effective exchange price per share equal to the market price (defined as the Minimum Price under Nasdaq Listing Rule 5635(d)) as of the date of the Uptown Exchange Agreement, in exchange for a $756,992.00 reduction in the outstanding balance of the December 2020 Royalty Interest

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Jaguar Health, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-077663

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