On September 23, 2026, Jaguar Health, Inc. entered into privately negotiated exchange agreements with Streeterville Capital, LLC to reduce the outstanding balance of a previously issued promissory note.

The company issued an aggregate of 547,898 shares of its common stock to Streeterville in exchange for a reduction of $5,049,909.26 on the principal balance of the note.

The transaction was conducted under a promissory note dated November 12, 2025, with an original principal amount of $10,810,000. The company reported that as of September 23, 2026, it had approximately 1,281,867 shares of common stock issued and outstanding.

The shares issued in this exchange were sold pursuant to an exemption from registration under Section 3(a)(9) of the Securities Act of 1933.