Jaguar Health declares special preferred stock dividend tied to strategic review
The board approved a one-time Series R Convertible Preferred Stock dividend meant to shield shareholders from dilution while Jaguar weighs strategic options.
Jaguar Health announced on October 2, 2026 that its board declared a special stock dividend of Series R Convertible Preferred Stock payable to holders of common stock and certain warrants as of record on October 13, 2026. The dividend is intended to provide dilution protection to Jaguar shareholders as the company continues evaluating strategic alternatives, and it will consist of the company's Series R Convertible Preferred Stock.1
Holders will see each share of Preferred Stock automatically become five shares of common stock on a conversion date set for November 2, 2026.1 Payment of the dividend is scheduled for October 15, 2026, two days after the record date.1
According to the related 8-K, the company filed paperwork in Delaware authorizing a specific pool of preferred shares for this purpose: on October 2, 2026, Jaguar filed a Certificate of Designation with the Delaware Secretary of State setting aside 2,325,000 shares of preferred stock as the new Series R class.1 The filing caps the total common shares that could result from conversion of all outstanding Series R Preferred Stock at 11,625,000, subject to adjustment for stock splits or similar changes.1
The filing also disclosed separate debt actions dated September 30, 2026. Jaguar amended its $12 million Uptown Capital royalty interest so that monthly payments now begin January 1, 2027 instead of October 1, 2026, with payments set at the greater of $750,000 or the amount otherwise owed.1 A parallel amendment applied the same payment delay and floor to its $12 million Streeterville Capital royalty interest.1 Jaguar and its wholly owned subsidiary Napo Pharmaceuticals also extended the maturity of a $6,220,812.50 secured note held by Streeterville from October 1, 2026 to January 1, 2027.1
On the pipeline, CEO Lisa Conte said the company remains focused on its intestinal failure program, with continued development of oral crofelemer for microvillus inclusion disease and short bowel syndrome with intestinal failure, and a planned NDA filing for crofelemer in MVID expected in mid-2027.1
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