Jaguar Health cuts ATM offering size after triggering Form S-3 share-value limit

Jaguar Health, Inc. filed Supplement No. 7 to its at-the-market prospectus on September 3, 2026, updating terms of its ongoing "at-the-market" common stock offering. The company established the ATM Program on December 10, 2021, under an agreement with Ladenburg Thalmann & Co. Inc. as sales agent, later amended several times, including additions naming Lucid Capital Markets, LLC as a co-agent.¹ Lucid's term as sales agent expired on December 31, 2025, leaving Ladenburg as the sole sales agent starting January 1, 2026.¹

The filing notes that as of March 31, 2025, Jaguar Health became subject to General Instruction I.B.6 of Form S-3, which limits how much the company can sell under its registration statement.¹ Under that rule, the aggregate market value of Jaguar Health's common stock held by non-affiliates as of August 27, 2026, was calculated at approximately $14.99 million, based on 5,335,075 outstanding shares held by non-affiliates priced at $2.81 per share, the closing price on July 6, 2026.¹

The company said it has sold about $214,660 worth of common stock under this instruction during the trailing 12-month period ending on the filing date.¹ As a result of these limitations combined with prior sales under the prospectus, the aggregate offering price available for future ATM sales has been reduced to approximately $4.78 million.¹

Apart from this change, the terms of the ATM Program remain unchanged, and the underlying ATM Agreement remains in effect.¹ Jaguar Health's common stock trades on Nasdaq under the ticker "JAGX," and closed at $0.7299 per share on September 2, 2026.¹