Jaguar Health issues $10.81M secured note to Streeterville Capital; $8M held as collateral

Jaguar Health, Inc.

Net proceeds of $10M after $800K OID and $10K transaction expenses; interest 8% p.a., maturity 36 months.
$8M deposited in restricted account at Lakeside Bank as collateral; release allowed for excess over declining requirement.
Lender can redeem up to $600K/month starting month 12; mandatory prepayment of 25% of upfront IP licensing fees.
Note secured by subsidiary guaranty (JAGX Holdings) and pledge of all its membership interests; strict negative covenants on additional debt and equity.
Proceeds at Company's discretion, including repayment of $6M June 2025 convertible bridge notes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Jaguar Health, Inc. incurred loan of $10,810,000 with Streeterville Capital, LLC at 8.00% per annum maturing 36 months following the date of issuance.

Instrument: loan
Principal: $10,810,000
Counterparty: Streeterville Capital, LLC
Rate: 8.00% per annum
Maturity: 36 months following the date of issuance
Event: incurrence

Exact text from the filing

the Company issued and sold to the Lender a secured promissory note in the original principal amount of $10,810,000

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Jaguar Health, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-283139

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