- Jaguar Health, Inc. completed a **private placement** of approximately **951 shares** of Series N Perpetual Preferred Stock, raising approximately **$2.38 million**.  **[1585608_0001193125-25-201351_d947025d8k.htm:2]** 
- The private placement closed on **September 10, 2025**, with proceeds intended for **working capital, general corporate purposes, and repayment of certain existing notes**.  **[1585608_0001193125-25-201351_d947025d8k.htm:2]** 
- The Series N Preferred Stock has a **stated value of $2,500.00 per share** and is **exchangeable for Common Stock** at an exchange price of **$1.20 per share** following stockholder approval.  **[1585608_0001193125-25-201351_d947025d8k.htm:2]** **[1585608_0001193125-25-201351_d947025dex31.htm:2]** **[1585608_0001193125-25-201351_d947025dex31.htm:4]** 
- The company is required to hold a stockholder meeting within **90 days** of the closing to obtain the necessary approval for the exchange of shares and will file a registration statement on Form S-3 within **30 days** for the resale of the exchangeable shares.  **[1585608_0001193125-25-201351_d947025d8k.htm:2]** **[1585608_0001193125-25-201351_d947025dex101.htm:11]** 
- Holders of Series N Preferred Stock will **not receive any dividends**.  **[1585608_0001193125-25-201351_d947025dex31.htm:4]** **[1585608_0001193125-25-201351_d947025d8k.htm:5]**

Jaguar Health (JAGX)