---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-021064"
form_type: "8-K"
ticker: "JAGX"
cik: "0001585608"
company_name: "Jaguar Health, Inc."
filed_at: "2026-01-23T23:59:59+00:00"
generated_at: "2026-05-16T08:26:41.446892+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Jaguar Health issues ~11.8M pre-funded warrants to reduce $2.04M in royalties and preferred stock

## Summary
- Reduced $1.19M Iliad royalty and $0.85M Streeterville royalty by issuing 1.55M and 1.11M pre-funded warrants.
- Exchanged 22 Series L preferred shares (Iliad) and 99.38 shares (Streeterville) for 0.72M and 3.25M pre-funded warrants.
- Exchanged 87.78 Series M shares (Iliad) and 69.44 shares (Streeterville) for 2.87M and 2.27M pre-funded warrants.
- Warrants exercisable immediately at $0.001/share; no cash received in the exchanges.

## SEC filing metadata
- accession: 0001193125-26-021064
- form_type: 8-K
- ticker: JAGX
- cik: 0001585608
- company_name: Jaguar Health, Inc.
- filed_at: 2026-01-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/jagx-20260116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-021064
- JSON: https://secwatch.observer/filing/0001193125-26-021064.json
- Plain text: https://secwatch.observer/filing/0001193125-26-021064.txt

## Key facts
- Material Agreements
  Jaguar Health, Inc. entered into Streeterville Royalty Interest Exchange Agreement with Streeterville Capital, LLC valued at Issued a pre-funded common stock purchase warrant to purchase 1,111,837 shares of Common Stock in ex (effective 2026-01-16).
  - Action: entry
  - Counterparty: Streeterville Capital, LLC
  - Value: Issued a pre-funded common stock purchase warrant to purchase 1,111,837 shares of Common Stock in ex
  - Effective: 2026-01-16
  source text: On January 16, 2026, the Company entered into a privately negotiated exchange agreement (the “Streeterville Royalty Interest Exchange Agreement”) with Streeterville.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm
- Material Agreements
  Jaguar Health, Inc. entered into Streeterville Series L Exchange Agreement with Streeterville Capital, LLC valued at Issued a pre-funded common stock purchase warrant to purchase 3,249,908 shares of Common Stock in ex (effective 2026-01-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Streeterville Capital, LLC
  - Value: Issued a pre-funded common stock purchase warrant to purchase 3,249,908 shares of Common Stock in ex
  - Effective: 2026-01-16
  source text: On January 16, 2026, the Company entered into a privately negotiated exchange agreement with Streeterville (the “Streeterville Series L Exchange Agreement”), pursuant to which the Company issued a pre-funded common stock purchase warrant to purchase 3,249,908 shares of Common Stock (the “Fourth Pre-Funded Warrant”) to Streeterville in exchange for 99.3822 shares of Series L Preferred Stock held by Streeterville.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm
- Material Agreements
  Jaguar Health, Inc. entered into Streeterville Series M Exchange Agreement with Streeterville Capital, LLC valued at Issued a pre-funded common stock purchase warrant to purchase 2,270,765 shares of Common Stock in ex (effective 2026-01-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Streeterville Capital, LLC
  - Value: Issued a pre-funded common stock purchase warrant to purchase 2,270,765 shares of Common Stock in ex
  - Effective: 2026-01-16
  source text: On January 16, 2026, the Company entered into a privately negotiated exchange agreement with Streeterville (the “Streeterville Series M Exchange Agreement”), pursuant to which the Company issued a pre-funded common stock purchase warrant to purchase 2,270,765 shares of Common Stock (the “Sixth Pre-Funded Warrant”) to Streeterville in exchange for 69.44 shares of Series M Preferred Stock held by Streeterville.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm
- Material Agreements
  Jaguar Health, Inc. entered into Iliad Series M Exchange Agreement with Iliad Research and Trading, L.P. valued at Issued a pre-funded common stock purchase warrant to purchase 2,870,503 shares of Common Stock in ex (effective 2026-01-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Iliad Research and Trading, L.P.
  - Value: Issued a pre-funded common stock purchase warrant to purchase 2,870,503 shares of Common Stock in ex
  - Effective: 2026-01-16
  source text: On January 16, 2026, the Company entered into a privately negotiated exchange agreement with Iliad (the “Iliad Series M Exchange Agreement”), pursuant to which the Company issued a pre-funded common stock purchase warrant to purchase 2,870,503 shares of Common Stock (the “Fifth Pre-Funded Warrant”) to Iliad in exchange for 87.78 shares of Series M Preferred Stock held by Iliad.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm
- Material Agreements
  Jaguar Health, Inc. entered into Iliad Royalty Interest Exchange Agreement with Iliad Research and Trading, L.P. valued at Issued a pre-funded common stock purchase warrant to purchase 1,553,844 shares of Common Stock in ex (effective 2026-01-16).
  - Action: entry
  - Counterparty: Iliad Research and Trading, L.P.
  - Value: Issued a pre-funded common stock purchase warrant to purchase 1,553,844 shares of Common Stock in ex
  - Effective: 2026-01-16
  source text: On January 16, 2026, the Company entered into a privately negotiated exchange agreement (the “Iliad Royalty Interest Exchange Agreement”) with Iliad.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm
- Material Agreements
  Jaguar Health, Inc. entered into Iliad Series L Exchange Agreement with Iliad Research and Trading, L.P. valued at Issued a pre-funded common stock purchase warrant to purchase 719,424 shares of Common Stock in exch (effective 2026-01-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Iliad Research and Trading, L.P.
  - Value: Issued a pre-funded common stock purchase warrant to purchase 719,424 shares of Common Stock in exch
  - Effective: 2026-01-16
  source text: On January 16, 2026, the Company entered into a privately negotiated exchange agreement with Iliad (the “Iliad Series L Exchange Agreement”), pursuant to which the Company issued a pre-funded common stock purchase warrant to purchase 719,424 shares of Common Stock (the “Third Pre-Funded Warrant”) to Iliad in exchange for 22 shares of Series L Preferred Stock held by Iliad.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1585608/000119312526021064/0001193125-26-021064-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.