On Thursday, shares of animal health company Jaguar Animal Health Inc. (JAGX - Free Report) are skyrocketing, up 115% in morning trading after the company announced it has entered into a $15 million stock purchase and registration rights agreement with Aspire Capital Fund.
Immediately after the agreement was executed, Aspire, a Chicago-based institutional investor, purchased 222,222 shares of JAGX common stock for $500,000. Jaguar must wait until a registration statement has been filed and declared effective by the SEC in order to obtain the right to sell up to the remaining $14.5 million of its common stock to Aspire.
In a statement announcing the deal, Jaguar CEO Lisa Conte said that "This agreement provides Jaguar with added balance sheet strength and flexibility to support our ongoing clinical activities and the expected commercialization of our drug product candidates, and we welcome Aspire as a stockholder.”
“Additionally, we expect that this Agreement may serve as an important asset as Jaguar continues discussions regarding potential business development and M&A activity,” Conte continued.
Currently, Jaguar sits at a #3 (Hold) on the Zacks Rank.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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On Thursday, shares of animal health company Jaguar Animal Health Inc. (JAGX - Free Report) are skyrocketing, up 115% in morning trading after the company announced it has entered into a $15 million stock purchase and registration rights agreement with Aspire Capital Fund.
Immediately after the agreement was executed, Aspire, a Chicago-based institutional investor, purchased 222,222 shares of JAGX common stock for $500,000. Jaguar must wait until a registration statement has been filed and declared effective by the SEC in order to obtain the right to sell up to the remaining $14.5 million of its common stock to Aspire.
In a statement announcing the deal, Jaguar CEO Lisa Conte said that "This agreement provides Jaguar with added balance sheet strength and flexibility to support our ongoing clinical activities and the expected commercialization of our drug product candidates, and we welcome Aspire as a stockholder.”
“Additionally, we expect that this Agreement may serve as an important asset as Jaguar continues discussions regarding potential business development and M&A activity,” Conte continued.
Currently, Jaguar sits at a #3 (Hold) on the Zacks Rank.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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