Jaguar Health CEO, board members, investors invest in $3.448M bridge financing

Jaguar Health (JAGX) announced that Jaguar’s president and CEO Lisa Conte, three other members of the Company’s board of directors, and seven other C-suite and senior executives of Jaguar along with selected institutional and accredited investors entered into securities purchase agreements, pursuant to which the Company will issue up to $3.448 million aggregate principal amount of convertible promissory notes to such Investors in a private placement priced at-the-market under Nasdaq rules. The Notes will have a 3-month maturity, will 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. The Company will use the proceeds for working capital and other general corporate purposes. In addition, the Company has agreed to issue to the Investors unregistered warrants, which will be exercisable immediately and will expire on the earlier of five years from the date of issuance, the consummation of a fundamental transaction and the consummation of a liquidation event. The offering is expected to close on or about March 27, 2025, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.