Jaguar Health, Inc. reported on September 15, 2026, that it has completed a series of transactions involving the exchange of debt and preferred stock for common shares, as well as the acquisition of a subsidiary.
The company entered into a privately negotiated exchange agreement with Lincoln Alternative Strategies LLC on September 11, 2026. Under this agreement, Jaguar Health issued 557,377 shares of common stock to LAS in exchange for the outstanding balance of a 6% convertible promissory note. The principal amount of the note surrendered was $175,016.36.
Separately, Jaguar Health executed three exchange agreements with Streeterville Capital, LLC. On July 7, 2026, the company issued 53,191 shares to Streeterville in exchange for 6 shares of Series Q Perpetual Preferred Stock. On September 11, 2026, the company issued 219,435 shares to Streeterville in exchange for 2.8 shares of Series Q Preferred Stock. On September 14, 2026, the company issued an additional 31,847 shares to Streeterville in exchange for 0.4 shares of Series Q Preferred Stock. All Series Q Preferred Shares exchanged were cancelled and retired.
On September 12, 2026, Jaguar Health entered into a securities purchase agreement with a minority shareholder of Napo Therapeutics S.p.A., an Italian company majority-owned by the Company. Under this agreement, the Company agreed to issue 535,000 shares of common stock and a pre-funded warrant to purchase 2,077,255 shares of common stock. The transaction closed on September 15, 2026, resulting in the surrender of all shares of Napo Therapeutics held by the Purchaser.
The shares issued in the transactions with LAS and Streeterville were issued in reliance on an exemption from registration under Section 3(a)(9) of the Securities Act of 1933. The shares issued in the Napo Therapeutics transaction were offered and sold pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.
