SCHEDULE: CVI Investments & Heights Capital Disclose 9.9% Stake in Jaguar Health
Beneficial Ownership Disclosure
CVI Investments, Inc. and Heights Capital Management, Inc. have disclosed a 9.9% beneficial ownership stake in Jaguar Health, Inc., primarily through warrants.
Summary
- CVI Investments, Inc. and Heights Capital Management, Inc. (collectively, "Reporting Persons") have reported beneficial ownership of 147,000 shares of Jaguar Health, Inc. common stock.
- This represents 9.9% of the company's outstanding common stock.
- The reported shares are issuable upon the exercise of warrants.
- A beneficial ownership limitation prevents the exercise of warrants if it would result in ownership exceeding 9.99% of the outstanding shares.
- As of June 13, 2025, Jaguar Health, Inc. had 1,324,471 shares outstanding, excluding shares underlying the warrants.
- Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc. and exercises shared voting and dispositive power over these shares.
Sentiment
Score: 5
Explanation: This is a routine amendment to a Schedule 13G filing, disclosing a passive beneficial ownership stake. It does not contain information that inherently indicates positive or negative sentiment regarding the company's operational or financial performance.
Positives
- A significant institutional investor, CVI Investments, Inc., maintains a 9.9% beneficial ownership stake in Jaguar Health, Inc.
Negatives
- NA
Risks
- The exercise of warrants is subject to a beneficial ownership limitation, preventing the Reporting Persons from exceeding 9.99% ownership of Jaguar Health, Inc.'s common stock.
Future Outlook
NA
Management Comments
- To the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.
Industry Context
NA
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| NA | NA | NA | NA | NA |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| NA | NA | NA | NA |
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership, which could influence market perception.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 06/13/2025 | Date as of which Jaguar Health, Inc. had 1,324,471 shares outstanding. |
| 06/27/2025 | Date Jaguar Health, Inc.'s Prospectus (Registration No. 333-288202) was filed. |
| 06/30/2025 | Date of event which required the filing of this statement. |
| 08/12/2025 | Date the Schedule 13G Amendment No. 2 was signed by the Reporting Persons. |
Keywords
Jaguar Health, CVI Investments, Heights Capital Management, SEC filing, Schedule 13G, beneficial ownership, common stock, warrants, institutional investment
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