Jaguar Health, Inc.: Jaguar Health Announces Closing of $6.0 Million Issuance and Sale of Designation-backed Note Related to Possible Tropical Disease Priority Review Voucher
SAN FRANCISCO, CA / ACCESSWIRE / January 20, 2021 / Jaguar Health, Inc. (NASDAQ:JAGX) ( Jaguar or the Company ) announced today that the Company has signed a definitive agreement (the Agreement ) related to the previously announced term sheet for the issuance and sale of a secured promissory note in the principal amount of $6.0 million (the Note ) to Streeterville Capital, LLC (the Investor ). The sale of the Note closed on January 19, 2021.
Per the terms of the Agreement, in addition to return of principal and accrued interest at prime interest rate on the Note, the Investor has a right to 18% of the gross proceeds (the Return Bonus ) from the sale of a possible tropical disease priority review voucher ( TDPRV ) that Jaguar s wholly owned subsidiary, Napo Pharmaceuticals, Inc. ( Napo ), plans to purs
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