Jaguar Health Seeks Approval for Up to 92.9% Dilution via CVP Exchange, Warrant Repricing, and Reverse Split
JAGX has more than doubled off its 52-week low of $2.35.
Summary
Jaguar Health's amended proxy seeks approval for up to 92.9% dilution through CVP debt/preferred exchanges, warrant repricing to $1.00, an ELOC floor price cut, and a reverse split up to 1-for-150 — all to be voted on November 6.
Key Events · Financing and Capital Events · JAGX
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CVP Exchange Could Issue 25.4M Shares
Full exchange of 899.82 Series Q Preferred shares and $2.9M CVP Debt at $1.00 could issue 25,390,851 shares — 92.9% of the 1,945,542 shares outstanding as of September 25, 2026 — giving CVP affiliates 65.4% ownership.
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Warrant Repricing to $1.00 Unlocks 49,690 Shares
Proposal 2 reprices 4,052 Investor Warrants from $525.00–$3,996.60 down to $1.00, plus 45,511 Series O dividend shares, totaling 49,690 shares (8.7% dilution) with a 30-day expiration after approval.
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ELOC Floor Price Cut Below $16.50
Proposal 5 would reduce the ELOC floor price from $16.50 to an unspecified lower level, enabling C/M Capital purchases at prices far below the original floor — the stock closed at $2.75 on September 17, 2026.
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Reverse Split Up to 1-for-150
Proposal 4 grants board discretion to effect a reverse split between 1-for-2 and 1-for-150 within one year, following eight prior reverse splits since 2018.
Analysis · JAGX · Life Sciences
Shareholders are being asked to approve a package of highly dilutive financing measures at a November 6 special meeting. The most extreme is Proposal 1: full exchange of Series Q Preferred Stock and CVP Debt could issue up to 25.4 million shares — a 92.9% increase over the 1.95 million shares currently outstanding — at a $1.00 exchange price, handing CVP affiliates control of roughly 65% of the company. Proposal 2 reprices 4,052 warrants from as high as $3,996.60 down to $1.00, unlocking an additional 49,690 shares (8.7% dilution). Proposal 5 would slash the ELOC floor price from $16.50 to an unspecified lower level, enabling C/M Capital to buy shares at deeply depressed prices. Against a backdrop of a going-concern warning, $3.8M cash, and a stock trading at $5.20 after a 1-for-15 reverse split just 12 days ago, this proxy signals the company is exhausting every available avenue to raise capital — at the cost of massive shareholder dilution and potential change of control.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 42.2% of the 325 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.39%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, JAGX was trading at $5.20 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $7.8M. The 52-week trading range was $2.35 to $1,280.95. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.