Jaguar Health Announces Debt-for-Equity Exchanges with Streeterville

What Happened

• Jaguar Health, Inc. (JAGX) filed an 8‑K on Sep 25, 2026 disclosing privately negotiated exchange agreements with Streeterville Capital, LLC dated Sept 23, 2026.
• Under those agreements the company issued a total of 729,989 shares of common stock in two transactions: 182,091 shares exchanged to reduce the outstanding balance of a secured promissory note issued Jan 19, 2021 (the “2021 Note”) by $1,678,320; and 547,898 shares exchanged to reduce the outstanding balance of a secured promissory note issued Nov 12, 2025 (the “2025 Note”) by $5,049,909.26. Upon completion of the 2025 exchange, the 2025 Note was fully paid and cancelled.
• The exchange agreements include customary representations, warranties and covenants; the form of the 2021 Note Exchange Agreement is filed as Exhibit 10.1. As of Sept 24, 2026 the company reported approximately 1,463,958 shares of common stock issued and outstanding.

Key Details

• Total shares issued in the exchanges: 729,989 (182,091 + 547,898).
• Debt reduction: $1,678,320 against the 2021 Note and $5,049,909.26 against the 2025 Note.
• Result: 2025 Note fully paid and cancelled following the exchange (Sept 23, 2026).
• Reported shares outstanding after transactions: ~1,463,958 (as of Sept 24, 2026).

Why It Matters

• The transactions convert a portion of Jaguar Health’s debt into equity, lowering recorded liabilities (notably eliminating the 2025 Note) and potentially reducing future interest obligations tied to those notes.
• Issuing 729,989 shares is dilutive to existing shareholders because it increases the company’s share count and can affect per‑share measures (e.g., EPS, ownership percentages).
• Investors should review the full exchange agreement and Jaguar’s subsequent filings for additional terms and any impacts on governance, redemption rights, or future capital needs.