Business
Jaguar Health and its Subsidiary, Napo Pharmaceuticals, Enter into Fifth Amendment to the Accounts Receivable Purchase Agreement with Oasis Capital, LLC, Dated May 12, 2020
The Sixth Tranche Accounts Receivable has a gross value of $3,810,587.04, representing customer billings over a 51-day periodSAN FRANCISCO, CA / ACCESSWIRE /
About this update from Jaguar Health, Inc.
[{"type":"text","content":"The Sixth Tranche Accounts Receivable has a gross value of $3,810,587.04, representing customer billings over a 51-day periodSAN FRANCISCO, CA / ACCESSWIRE / December 4, 2020 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that Jaguar and its wholly owned subsidiary, Napo Pharmaceuticals, Inc., (collectively, the \"Company\") have jointly entered into a fifth amendment to the accounts receivable purchase agreement with Oasis Capital, LLC (\"Oasis\"), dated May 12, 2020, pursuant to which Oasis agreed to purchase additional accounts receivable of the Company related to the sales of the Company's Mytesi® drug product to Cardinal Health for the period of October 13, 2020 through December 2, 2020 (the \"Sixth Tranche Accounts Receivable\"). The Sixth Tranche Accounts Receivable has a gross value of $3,810,587.04, representing customer billings over a 51-day period.\"We are happy to enter into this additional amendment with Oasis. Based on the success of the previous five tranches of accounts receivable financing and the strength of our growing sales of Mytesi, we have been able to further our strategy of bringing in non-dilutive capital and striving to become a sustainable, cash flow positive commercial business,\" said Lisa Conte, Jaguar's president and CEO.Per the terms of the agreement, Oasis will receive a fee of 5.45% (the \"Fee\") of the $3,810,587.04 Sixth Tranche Accounts Receivable following their purchase of the Sixth Tranche Accounts Receivable for $1,619,499.49, an increased percentage of the gross accounts receivable compared to the April 2020 purchase (the \"Purchase Price\"). As with prior accounts receivable sales to Oasis, Oasis will return to the Company any amount that exceeds the sum of the Purchase Price and the Fee. As with all Mytesi gross sales, the Sixth Tranche Accounts Receivable will be reduced by Medicare, ADAP 340B chargebacks, returns, and wholesale distribution fees based on historical trends to determine net sales.Under the amendment, Oasis is entitled to a one-time transaction fee of $5,000.About Jaguar Health, Inc. and Napo Pharmaceuticals, Inc.Jaguar Health, Inc. is a commercial stage pharmaceuticals company focused on developing novel, plant-based, non-opioid, and sustainably derived prescription medicines for people and animals with GI distress, specifically chronic, debilitating diarrhea. O...