Key Highlights

  • Five common shares: what each Series R preferred share converts into on November 2, 2026 under the special dividend declared by Jaguar Health (NASDAQ:JAGX), which gives one preferred share per common share held at the October 13, 2026 record date.
  • October 15, 2026: the expected payment date, two days after the record date, with Nasdaq to announce the ex-dividend date and no public market planned for the Series R preferred shares themselves, per the company's 8-K.
  • 142,535 shares: the common stock covered by certain warrants that also carry dividend rights, alongside the outstanding common shares, according to the 8-K that Jaguar Health (NASDAQ:JAGX) filed with a date of October 5, 2026.
  • About 29 percent: Monday's gain to USD 4.73, followed by a premarket move of roughly 23 to 28 percent on October 6 to near USD 5.83 to USD 6.05, per published market data, as holders weigh the new share count.

How the Dividend Works

Jaguar's board declared the special one-time dividend on October 2, 2026. Holders of common stock, and of certain warrants with dividend rights, at the close of business on October 13, 2026 receive one share of Series R Convertible Preferred Stock for each share. Payment is expected on October 15, 2026, and each preferred share converts into five common shares on November 2, 2026. On the stated terms a holder ends up with six common shares for each one held before the dividend, simple arithmetic.

Why Management Calls It Protection

The company frames the dividend as dilution protection while it evaluates strategic alternatives: existing holders receive extra shares first, so later share sales dilute them less. It also obtained a consent and waiver from the holder of its Series P preferred, which the company agreed to repurchase for cash at liquidation value in a qualifying fundamental transaction, subject to available funds. In February 2026 it paid a smaller Series O preferred dividend of one-tenth of a share per common share.

What It Does Not Change

A stock dividend adds shares rather than value, so the price per share would normally adjust, and no outcome is guaranteed. The Series R shares will not trade publicly, and Nasdaq will set the ex-dividend date. The underlying plan remains crofelemer for rare intestinal failure diseases, with a New Drug Application targeted for mid-2027. Strategic alternatives could mean a sale, a merger or further capital raising, any of which would affect what the new shares are worth.

Where Things Stand

Yes, on the stated terms, though it is a share count change rather than a gift of value. Jaguar Health (NASDAQ:JAGX) will pay one Series R preferred share per common share, and each preferred converts into five common shares on November 2, 2026, so holders end up with six shares for each one held. The price per share would normally adjust. Next dates are the October 13, 2026 record date, the October 15, 2026 payment, the Nasdaq ex-dividend announcement and the November 2, 2026 conversion. Treat the conversion as arithmetic, not as evidence of value.