Transaction Information
Jaguar Health, Inc. (NASDAQ: JAGX) announced it has entered into a securities purchase agreement with North American institutional investors for the purchase and sale of 7,647,000 shares of common stock for gross proceeds of approximately $10.8 million in a registered direct offering.
Jaguar intends to use the net proceeds from the transaction for the benefit of the company's wholly-owned Italian subsidiary, Napo EU S.p.A., which may include capital expenditures, potential licenses, acquisitions, growth opportunities and strategic transactions; provided, however, if all or any of the proceeds have not been so utilized in the discretion of Jaguar prior to the six-month anniversary of the closing of the offering, Jaguar will be permitted to use such proceeds for working capital and general corporate purposes. The purchase price for the shares of common stock offered in the transaction was $1.41 per share.
The shares of common stock described above are being offered pursuant to a "shelf" registration statement on Form S-3 (File No. 333-248763) that was filed by Jaguar with the Securities and Exchange Commission (SEC) and was declared effective on September 23, 2020. Jaguar has filed a prospectus supplement with the SEC relating to such shares of common stock.
Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent in connection with the offering.
About Jaguar Health and Napo Pharmaceuticals
Jaguar Health, Inc. (NASDAQ: JAGX) 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. Jaguar's wholly owned subsidiary, Napo Pharmaceuticals, Inc., focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals from plants harvested responsibly from rainforest areas. Jaguar's 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 Botanical Guidance. For more information, please visit www.jaguar.health
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.