Jaguar Health, Inc. Exchanges Debt for Equity to Reduce Note Balance

What Happened

• Jaguar Health, Inc. announced on September 23, 2026 that it entered into privately negotiated exchange agreements with Streeterville Capital, LLC to convert part of its secured 2025 promissory note into common stock. The company issued 547,898 shares of common stock in exchange for a $5,049,909.26 reduction in the outstanding balance of the 2025 Note (original principal $10,810,000, issued November 12, 2025).

Key Details

• Counterparty: Streeterville Capital, LLC.
• Shares issued: 547,898 shares of common stock.
• Debt reduction: $5,049,909.26 applied to the outstanding 2025 Note.
• Transaction date and filing: Exchange agreements dated September 23, 2026; Form 8-K filed September 24, 2026.
• Shares outstanding: As of September 23, 2026, Jaguar reported approximately 1,281,867 shares of common stock issued and outstanding.
• Documentation: Form of the 2025 Note Exchange Agreement is filed as Exhibit 10.1.

Why It Matters

• The company reduced a material portion of its secured promissory note, lowering outstanding debt by about $5.05 million, which can improve the balance sheet and interest or repayment obligations tied to that note.
• In exchange, Jaguar issued new shares, increasing share count and causing dilution for existing shareholders; investors should note the updated outstanding share figure.
• This is a privately negotiated debt-for-equity exchange with customary representations and covenants, not a public offering; the transaction was reported under the 8-K (including unregistered sale disclosure).