On October 2, 2026, Jaguar Health, Inc. (NASDAQ: JAGX) announced that its Board of Directors has declared a special stock dividend. The dividend will consist of the Company’s newly authorized Series R Convertible Preferred Stock. The payment is intended to reward stockholders and provide protection against potential dilution as the company continues to evaluate strategic alternatives.
Eligibility for the dividend is limited to holders of Jaguar’s common stock or specific warrants that include dividend rights. These holders must own their securities as of the close of business on October 13, 2026, which is the record date. The actual payment of the shares is scheduled for October 15, 2026.
The Series R Preferred Stock was authorized on October 2, 2026, with a total of 2,325,000 shares. The shares have a par value of $0.0001 per share and will be issued in book-entry form through The Depository Trust Company (DTC). Holders of the Series R Preferred Stock will not receive dividends and will not have voting rights, except as required by law.
Each share of the Series R Preferred Stock is set to automatically convert into five shares of common stock on November 2, 2026. The Company stated that no fractional shares will be issued; instead, fractional entitlements will be rounded up to the nearest whole share.
In connection with the authorization of this preferred stock, Jaguar entered into a Consent and Waiver with C/M Capital Master Fund, LP. This agreement allows for the issuance of the Series R Preferred Stock and the payment of the special dividend. In exchange for these consents, Jaguar agreed to repurchase all outstanding Series P Preferred Stock held by C/M Capital upon the occurrence of a Fundamental Transaction, subject to available funds.
Regarding its core operations, Jaguar Health remains focused on its global development program for oral crofelemer. The company anticipates filing a New Drug Application (NDA) for crofelemer in the treatment of microvillus inclusion disease (MVID) by mid-2027.
