Jaguar Health and Milan, Italy-based Dragon SPAC today announced the initial funding of the private financing of the SPAC, which plans to acquire Napo EU. Dragon SPAC and Napo Pharmaceuticals, Jaguar’s wholly-owned U.S. subsidiary, have agreed that Dragon will issue units to Napo Pharma in a private placement for cash consideration of approximately $10.8 million, with proceeds to be used in part for Dragon’s merger with Napo EU. Each unit consists of one ordinary share of Dragon SPAC and one warrant. Each warrant will entitle the holder to purchase one ordinary share at an exercise price of EUR 10 per ordinary share.
Jaguar Health is engaged in the development of a variety of therapies, including treatments for chronic COVID patients. Read more.
