Business
Jaguar Health Announces Closing of Private Placement Priced at a Premium to Market
Participating investors include Jaguar CEO and CFO, Dragon SPAC S.p.A. sponsor Josh Mailman, and plant-based pharmaceutical manufacturing pioneer Indena
About this update from Jaguar Health, Inc.
[{"type":"text","content":"Participating investors include Jaguar CEO and CFO, Dragon SPAC S.p.A. sponsor Josh Mailman, and plant-based pharmaceutical manufacturing pioneer Indena S.p.A.Company to host investor webcast Monday, September 20th at 8:30 a.m. Eastern Click here to register for webcastSAN FRANCISCO, CA / ACCESSWIRE / September 14, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) (\"Jaguar\" or the \"Company\") today announced that it completed a $776,200 unregistered private placement of approximately 309,242 shares of Common Stock on September 14, 2021. The private placement was led by New York City-based impact investor Josh Mailman, who is the sponsor of Dragon SPAC S.p.A. and a long-time investor in the Company, and included Jaguar's founder, president, and CEO, Lisa Conte, Jaguar's CFO, Carol Lizak, as well as Indena S.p.A., an Italy-based pioneer and leader in plant-based pharmaceutical manufacturing with which Jaguar has a long-standing relationship. The Company is working to bring Indena on as an additional manufacturer. Company management's investment in the private placement totaled $40,000.\"We are pleased to close this private placement, priced at a slight premium to market, as defined by Nasdaq, and we appreciate the support of the participating investors,\" stated Conte. \"We believe this financing illustrates the confidence that the participating investors - a group that includes Jaguar's CFO Carol Lizak and me - have in Jaguar and our expectation that the business plan for Napo EU adds meaningful value to the Company and represents another ‘shot on goal' for crofelemer for an important new gastrointestinal indication.\"Napo EU was formed with the mission to expand access to crofelemer to Europe (excluding Russia) to address significant unmet gastrointestinal medical needs in the region. Napo EU's initial focus is on pursuing the accelerated conditional marketing authorization pathway from the European Medicines Agency for crofelemer for an important rare disease: short bowel syndrome with intestinal failure.A merger between Napo EU and Dragon SPAC, a private Italian corporation, is pending approval by Italian financial regulatory authorities and expected to be consummated by the end of September/beginning of October 2021. Dragon SPAC recently closed a financing of approximately 8.83 million euros from the Company and was formed by spons...