Jaguar Health, Inc. 8-K

What Happened
Jaguar Health, Inc. announced on March 6, 2026 that it entered into multiple material amendments with its investors/lenders that change timing and amounts of payments under existing royalty interests and promissory notes, grant a security interest on certain assets, and terminate investor warrants. Key actions include postponing the start of monthly royalty payments from April 1, 2026 to July 1, 2026, reducing several repayment balances by 10%, extending note maturities, and terminating warrants exercisable into 48,211 shares of common stock.

Key Details

• Royalty amendments (Uptown 2020 and Streeterville 2022) dated March 6, 2026 postpone monthly royalty payments to July 1, 2026 and reduce each Royalty Repayment Amount by 10%: Uptown’s repayment becomes $11,125,282.54; Streeterville’s becomes $12,428,782.20.
• Note amendments: 2021 Note amendment (with Streeterville) extends the maturity to July 1, 2026 and reduces the Outstanding Balance so it becomes $6,596,304.11; 2025 Note amendment extends the maturity to March 12, 2029 and sets the Outstanding Balance at $7,048,021.86.
• Security: Napo Pharmaceuticals (Jaguar’s wholly owned subsidiary) granted Streeterville a security interest in specified Lechlemer and TDPRV collateral to secure obligations under the 2025 Note.
• Warrants: Jaguar terminated warrants previously issued to Uptown, Streeterville and Iliad that were exercisable into an aggregate of 48,211 shares of common stock.

Why It Matters
These amendments reduce near-term cash or repayment obligations for Jaguar by postponing payment start dates and cutting certain repayment amounts, which can ease short-term liquidity pressure. However, the company also granted additional collateral to secure the 2025 Note, which increases secured obligations on specific assets. The warrant termination removes potential future dilution of about 48,211 shares. Investors should note the changes affect Jaguar’s debt schedule, secured liabilities and potential share dilution, all of which influence capital structure and near-term financing flexibility.