Jaguar Health Issues Pre-Funded Warrants in Exchange for Preferred Stock

Reuters12-13 05:47
Jaguar Health Issues Pre-Funded Warrants in Exchange for Preferred Stock

Jaguar Health Inc. announced that it has entered into two exchange agreements with Iliad Research and Trading, L.P., resulting in the issuance of pre-funded common stock purchase warrants. Under the agreements, Jaguar Health issued a pre-funded warrant to purchase 1,304,545 shares of common stock and another pre-funded warrant to purchase additional shares, both at an exercise price of $0.001 per share. The warrants are exercisable immediately, subject to a beneficial ownership cap of 9.99%. These transactions were completed in exchange for the cancellation and retirement of 91 shares of Series M Preferred Stock previously held by Iliad. The issuance of these warrants was conducted under an exemption from registration pursuant to Section 3(a)(9) of the Securities Act of 1933.

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