Business
Jaguar Health Announces Amendment to March 2020 Equity Purchase Agreement with Oasis Capital, LLC
Stock purchase price under the agreement increases to $3.00 per shareSAN FRANCISCO, CA / ACCESSWIRE / April 8, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) today
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Stock purchase price under the agreement increases to $3.00 per shareSAN FRANCISCO, CA / ACCESSWIRE / April 8, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) today announced that Jaguar has entered into an amendment (the \"Amendment\") to the March 24, 2020 equity purchase agreement (the \"Equity Purchase Agreement\") with Oasis Capital, LLC (\"Oasis Capital\"). As previously announced, Oasis is committed to purchasing up to an aggregate of $2.0 million of Jaguar common stock over the 36-month term of the Equity Purchase Agreement. Per the terms of the Amendment, the purchase price for each share of Jaguar common stock purchased by Oasis Capital under the Equity Purchase Agreement will increase from $0.436 to $3.00.\"We are very happy to have entered into this Amendment with Oasis,\" said Lisa Conte, Jaguar's president and CEO, \"with an increased share purchase price that is reflective of the recent performance of the Company's stock. This established equity line provides the Company with access to proceeds as may be needed for working capital and general corporate purposes as we continue to work to become a sustainable, cash flow positive commercial business supported primarily by sales of Mytesi®.\"In consideration for Oasis Capital's entry into the Amendment, the Company shall issue to Oasis Capital a common stock purchase warrant to purchase 100,000 shares of the Company's common stock, par value $0.0001 per share, with a per share exercise price equal to the Minimum Price (as defined under Nasdaq Listing Rules) of the Company's common stock as of the date of the Amendment.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. Our wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals from plants harvested responsibly from rainforest areas. Our Mytesi® (crofelemer) product is approved by the U.S. FDA for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy and the only oral plant-based prescription medicine approved under FDA Botanica...