Jaguar Health Declares Special Stock Dividend

Jaguar Health's Board of Directors has declared a one-time special stock dividend to holders of Jaguar Common Stock and certain outstanding warrants as of record on March 2. The Special Stock Dividend will consist of the Company's Series O Convertible Preferred Stock. Only persons who own shares of the Company's voting common stock, or certain warrants to purchase Common Stock with dividend rights at the close of business on March 2 will be entitled to receive shares of the Preferred Stock. Each share of Preferred Stock will convert into shares of Common Stock at the Company's election at any time as determined by the Board of Directors, provided, however, if the Preferred Stock has not converted by December 31, 2026, the Preferred Stock will automatically convert on that date. The conversion will be at a value based on the market price of the Common Stock at the time of conversion. The Board of Directors of the Company may elect to have the Preferred Stock converted into Common Stock based on several factors, including the potential reduction of debt in the Company and how that might affect risk of future dilution after conversion of the Preferred Stock into Common Stock. The payment date for the Special Stock Dividend is March 4 two days after the Record Date.