Jaguar Health Announces Closing of Bridge Financing Priced At-The-Market Under Nasdaq Rules

About this update from Jaguar Health, Inc.

[{"type":"text","content":"SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / April 1, 2025 / Jaguar Health, Inc. (NASDAQ:JAGX) ("Jaguar" or "the Company"), today announced the closing of its previously announced private placement.","length":219,"tagName":"p"},{"type":"text","content":"Jaguar's president and chief executive officer Lisa Conte, as well as other members of the Company's board of directors and other C-suite and senior executives of Jaguar along with selected institutional and accredited investors (each, an "Investor") entered into securities purchase agreements in connection with this private placement, pursuant to which the Company issued approximately $3.448 million aggregate principal amount of convertible promissory notes (collectively, the "Notes") to such Investors in a private placement priced at-the-market under Nasdaq rules. The Notes have a 3-month maturity, bear interest at 6% per annum, and will be convertible immediately at the option of the Investors into shares of the Company's common stock.","length":780,"tagName":"p"},{"type":"text","content":"In addition, the Company issued to the Investors unregistered warrants, which are exercisable immediately and will expire on the earlier of (i) five years from the date of issuance, (ii) the consummation of a fundamental transaction and (iii) the consummation of a liquidation event.","length":283,"tagName":"p"},{"type":"text","content":""As announced, a number of key catalysts are expected to occur in the second quarter of 2025 - primarily associated with ongoing crofelemer development efforts for rare diseases and cancer therapy-related diarrhea - that the Company believes have the potential to be value-enhancing for the Company. We feel it is important that Jaguar is adequately funded during this key time period," said Conte.","length":408,"tagName":"p"},{"type":"text","content":"H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.","length":82,"tagName":"p"},{"type":"text","content":"The gross proceeds to Jaguar from the offering were approximately $3.448 million, before deducting the placement agent's fees and other offering expenses payable by Jaguar, and excluding the proceeds, if any, from the exercise of the warrants. Jaguar intends to use the net proceeds from the offering for working ca...

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