Jaguar Health announced that its board of directors has declared a special, one-time dividend of one share of newly created Series R Convertible Preferred Stock for each outstanding share of common stock. The dividend is intended to provide dilution protection for existing shareholders as the company evaluates strategic alternatives. Each share of Series R Preferred Stock will automatically convert into five shares of common stock on November 2, 2026.
Key Details
- Dividend Terms: The dividend will be paid on October 15, 2026, to shareholders of record as of October 13, 2026. Holders of certain warrants are also eligible.
- Conversion Terms: On November 2, 2026, each share of Series R Preferred Stock will automatically convert into five shares of common stock, subject to a 19.99% beneficial ownership limitation per holder.
- Debt & Royalty Deferrals: The company also amended agreements to defer financial obligations. The start of monthly royalty payments to Uptown Capital and Streeterville Capital, and the maturity date of a secured promissory note with Streeterville, were all extended from October 1, 2026, to January 1, 2027.