JAGXJaguar Health, Inc. · NASDAQ · $5.62 · $10.93M mkt cap
Assessed Sep 29, 2026 · Float drift
Is the float you're seeing correct?
1.78M
Estimated float

Traditional method: cover count from the 8-K of 9/25, minus insider holdings from the DEF 14A divided by 15.

Confirmed · within 3%
1.72M
Reported float

Data-service feed, fetched today. The number TradingView and most screeners show.

Your screener's float is right for JAGX. Trade off 1.78M shares. What it does not show you is what is about to be added to it.

Dilution risk9/10EXTREME
CONFIDENCE: MEDIUM

The float your screener shows is right, at 1.78M. An active $9.8M ATM, 1 floorless convertible note and 8 reverse splits can add another 491% of the float.

  • Variable-rate preferred (death spiral). Fife entities hold about 884 shares of Series Q ($22.1M stated value).

  • Predatory lender active exchanges. Streeterville received 1,211,573 freely tradeable 3(a)(9) shares between 9/23 and 9/25, 62% of outstanding, at falling prices ($9.22, then $7.06).

  • ATM capacity vs market cap. $9.82M of ATM capacity was reloaded on 9/24, more than the roughly $8.8M market cap (about 1.63M shares, 92% of float).

From today's float to the ceiling

shares
1.78M
Estimated float
tradeable today
+43.2K can sell now
1.82M
Effective supply
float plus what sells on notice
+4.22M if floors are cut and warrants exercise
6.04M
Fully diluted
ceiling

Where the shares come from

each subtotal is a rung on the ladder above

Tradeable today
1.78M
Can sell now
Warrants in the money, at or near a zero strike
Exercisable at or below the current tape.
+43.2K
Effective supply
1.82M
Converts only if floors are cut · floors $2905.95 to $2905.95 against a $5.62 tape
Convertible notes
At the stated conversion prices; a cut to those prices raises the count.
+660.9K
Preferred stock, as converted
Common equivalent at the stated conversion ratio.
+3.67M
Above the current price
Warrants out of the money
Struck above the current tape; supply only if the stock rises.
+50.1K
Options and RSUs
Employee equity; vests and settles over time.
+658
Fully diluted
6.04M

ATM program active with $9.8M of registered capacity remaining. Public float is under $75M, so the baby-shelf rule caps primary sales near $3.2M per 12 months; the headline figure is not the near-term supply.

Not counted anywhere: ATM and shelf capacity. Convertible share counts use stated conversion prices.

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The facts

Price
$5.62
Market cap
$10.93M
Shares outstanding
1.95M
Reported float
1.72M
Avg volume
9.67M
Reverse splits
8 · latest 1-for-15 · Sep 17, 2026
Going concern
Yes · 0.7 quarters runway
Quarterly burn
$5.60M

Market data as of Oct 7, 2026

Key dates

  • Oct 1, 2026 · Streeterville 2021 Note matures (about $1.5M left); royalty monthly payments restart and can be settled by exchange at the Nasdaq Minimum Price
  • Dec 24, 2026 · Bridge Extension Warrants expire