The ELOC is now live — expect immediate selling pressure as C/M Capital Master Fund can resell shares at a discount. Monitor daily volume and any drawdown announcements. The going-concern risk and severe dilution make this a high-risk short thesis; any positive news (e.g., FDA approval) could trigger a short squeeze given the small float.
Price Chart
Executive Summary
Two S-1 registration statements for Jaguar Health (JAGX) became effective on July 24, 2026, covering File Nos. 333-297489 and 333-297488. The prior S-1/A filing (3 days ago) registered up to 41,000,000 shares for resale by C/M Capital Master Fund under a $40M ELOC, with the company receiving no proceeds but able to draw at a 5%+ discount. Effectiveness now allows immediate share resale, activating a deeply dilutive capital structure for a $5M market-cap company with a going-concern audit opinion — profoundly bearish for existing common stockholders.
Key Facts
- Two S-1 registration statements (File Nos. 333-297489 and 333-297488) became effective on July 24, 2026.
- The prior S-1/A registered up to 41,000,000 shares for resale by C/M Capital Master Fund, LP under a $40 million ELOC.
- Jaguar Health will not receive proceeds from the resale but may draw up to $40M from the ELOC at a 5%+ discount to market.
- The potential dilution is up to 89% of outstanding shares for a company with a $5M market cap and a going-concern audit opinion.
- A $2M Series P Preferred Stock financing was also completed on the same date as the S-1/A, signaling severe capital needs.
Financial Impact
Up to 41M shares registered for resale, representing up to ~89% dilution of current outstanding shares, under a $40M ELOC with 5%+ discount. Company has a $5M market cap.
Risk Factors
- Immediate dilution from ELOC share resales at a discount to market price.
- Going-concern audit opinion signals potential bankruptcy risk.
- Severe capital needs may require additional dilutive financing.
- Low market cap ($5M) makes stock highly volatile and susceptible to manipulation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (JAGX) — Batch item 1 | 9999999995-26-002447 |
| Document: 9999999995-26-002447-index.html | 9999999995-26-002446 |
| Document: 9999999995-26-002447.txt | 9999999995-26-002447 |
| EFFECT Filing (JAGX) — Batch item 4 | 9999999995-26-002446 |
| Document: 9999999995-26-002446-index.html | 9999999995-26-002447 |
| Document: 9999999995-26-002446.txt | 9999999995-26-002447 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | S-3 | $2.04 | awaiting T+60 | — | $2.37 (−16.18%) |
Oct 8, 2026 19d ago | DEF 14A | $4.79 | awaiting T+60 | — | $2.37 (+50.52%) |
Oct 5, 2026 22d ago | 8-K | $4.73 | awaiting T+60 | — | $2.37 (+49.89%) |
Sep 28, 2026 29d ago | 8-K | $6.02 | awaiting T+60 | — | $2.37 (+60.63%) |
Sep 24, 2026 4w ago | SC 13G/A | $7.70 | awaiting T+60 | — | $2.37 (+69.22%) |
Sep 24, 2026 4w ago | 424B5 | $7.06 | awaiting T+60 | — | $2.37 (+66.43%) |
Sep 24, 2026 4w ago | 8-K | $7.06 | awaiting T+60 | — | $2.37 (+66.43%) |
Sep 21, 2026 5w ago | 8-K | $34.46 | awaiting T+60 | — | $2.37 (−93.12%) |
Sep 15, 2026 6w ago | 8-K | $0.2246 | awaiting T+60 | — | $2.37 (−955.21%) |
Sep 3, 2026 7w ago | 424B5 | $10.41 | awaiting T+60 | — | $2.37 (+77.23%) |
US Market Status
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