Document:

Exhibit 10.33

 

Napo Pharmaceuticals, Inc.
 201 Mission Street, Suite 2375
 San Francisco, CA 94105

 

September 1, 2017

 

VIA ELECTRONIC MAIL

MEF I, LP

40 Wall Street

58th Floor

New York, NY 10005

 

Riverside Merchant Partners

125 Jericho Turnpike, Suite 504

Jericho, NY 11753

 

Dear All:

 

Reference is hereby made to that certain Note Purchase Agreement, dated March 1, 2017 (the “NPA”), by and among MEF I, LP (“MEF”), Riverside Merchant Partners (“Riverside”), and Napo Pharmaceuticals, Inc. (“Napo”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the NPA.

 

The parties have agreed to extend the Filing Date set forth in the NPA until October 20, 2017, and this letter agreement (the “Letter Agreement”) shall serve as an amendment to the NPA pursuant to Section 7.4 of the NPA and as written evidence of the mutual agreement among the parties to extend the Filing Date.

 

1.              NPA Amendment.  Accordingly, Napo, MEF and Riverside hereby agree that Section 1.1 of Annex II of the NPA is hereby deleted in its entirety and replaced as follows:

 

“1.1        No later than October 20, 2017 (the “Filing Date”), the Company shall prepare and submit to the Securities and Exchange Commission (the “Commission”), a Registration Statement on Form S-3 (or such other form available) covering the public resale of the Registrable Securities and shall cause such Registration Statement to be filed by the Filing Date for such Registration Statement and use reasonable best efforts to have the Registration Statement declared effective under the Act as n as possible thereafter (the “Effectiveness Date”). The Company shall use its reasonable best efforts to keep such Registration Statement continuously effective under the Act during the entire Effectiveness Period.

 

2.              Miscellaneous.

 

a.  Effectiveness.  From and after the date hereof, all references to the NPA shall mean the NPA as amended by this Letter Agreement.

 

 

b.  Other Provisions Unaffected.  Except as modified by this Letter Agreement, the NPA is unchanged and shall continue in full force and effect in accordance with the provisions thereof.

 

c.  Amendments.  The provisions of this Letter Agreement may not be amended, modified or supplemented, and waivers or consents to departure from the provisions hereof may not be given, except by the written consent of all parties hereto.

 

[Signature page follows]

 

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    
	
 
    	
NAPO   PHARMACEUTICALS, INC.
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Lisa A. Conte
    
	
 
    	
Name:   
    	
Lisa   A. Conte
    
	
 
    	
Title:   
    	
President &   CEO
    
	
 
    	
 
    
	
MEF   I, LP
    	
 
    
	
 
    	
 
    
	
By:   
    	
/s/   Marc Manuel
    	
 
    
	
Name:   
    	
Marc   Manuel
    	
 
    
	
Title:   
    	
Managing   Director, Global Head of
    	
 
    
	
 
    	
On   behalf of Magna Management
    	
 
    
	
 
    	
 
    
	
RIVERSIDE   MERCHANT PARTNERS
    	
 
    
	
 
    	
 
    
	
By:   
    	
/s/   David A. Bocchi
    	
 
    
	
Name:   
    	
David   A. Bocchi
    	
 
    
	
Title:   
    	
Managing   MemberExhibit 10.34

 

Jaguar Health, Inc.
 201 Mission Street, Suite 2375
 San Francisco, CA 94105

 

August 31, 2017

 

VIA ELECTRONIC MAIL

Kingdon Associates

M. Kingdon Offshore Master Fund L.P.

Kingdon Family Partnership, L.P.

Kingdon Credit Master Fund L.P.

c/o Kingdon Capital Management, L.L.C.

152 W 57th St # 50

New York, NY 10019

Attn: Richard Weinstein

 

Dear Richard:

 

Reference is hereby made to (i) that certain Amended and Restated Note Purchase Agreement (the “NPA”), dated March 31, 2017, by and among Napo Pharmaceuticals, Inc. (“Napo”), Kingdon Associates (“Kingdon Associates”), M. Kingdon Offshore Master Fund L.P. (“Kingdon Offshore Master Fund”), Kingdon Family Partnership, L.P. (“Kingdon Family Partnership”), and Kingdon Credit Master Fund L.P. (“Kingdon Credit Master Fund” and, together with Kingdon Associates, Kingdon Offshore Master Fund, Kingdon Family Partnership, the “Purchasers”), (ii) that certain Agreement and Plan of Merger (the “Merger Agreement”) by and among Jaguar Health, Inc. (f/k/a Jaguar Animal Health, Inc.) (“Jaguar”), Napo Acquisition Corporation, Napo, and Greg Stock (and, pursuant to the Merger Agreement, Napo became a wholly owned subsidiary of Jaguar following the closing of the transactions contemplated thereby (the “Merger”)), and (iii) that certain Letter Agreement, dated March 31, 2017, by and among Jaguar and the Purchasers.  Capitalized terms used but not defined herein shall have the meanings ascribed to them in the NPA.

 

The parties have agreed to extend the deadline to file a registration statement with the U.S. Securities and Exchange Commission with respect to the Conversion Stock (as defined in the Note) together with any shares of Jaguar’s common stock issued in connection with interest payments under the Note (“Filing Deadline”) set forth in the Letter Agreement until October 20, 2017, and this letter agreement (the “Letter Agreement Amendment”) shall serve as an amendment to the Letter Agreement and as written evidence of the mutual agreement among the parties to extend the Filing Deadline.

 

1.              Letter Agreement Amendment.  Accordingly, Jaguar and the Purchasers hereby agree that Section 2 of the Letter Agreement is hereby deleted in its entirety and replaced as follows:

 

“2.  Registration Rights.  Jaguar hereby agrees that, not later than October 20, 2017 (the “Filing Deadline”), Jaguar shall file a registration statement with the U.S. Securities and Exchange Commission with respect to the Conversion Stock (as defined in the Note)

 

 

together with any shares of Jaguar’s common stock issued in connection with interest payments under the Note, and Jaguar shall use its best efforts to cause such registration statement to be declared effective no later than 120 days after the Filing Deadline; once effective, Jaguar shall maintain the effectiveness of such registration statement until the date that is the earlier to occur of (i) twelve months following the last date on which shares of Jaguar’s common stock are issuable under the Notes (for the avoidance of doubt, other than pursuant to the Merger Agreement) and (y) a Change of Control (as defined in the Notes), subject to customary delays and suspensions.”

 

2.              Miscellaneous.

 

a.  Effectiveness.  From and after the date hereof, all references to the Letter Agreement shall mean the Letter Agreement as amended by this Letter Agreement Amendment.

 

b.  Other Provisions Unaffected.  Except as modified by this Letter Agreement Amendment, the Letter Agreement is unchanged and shall continue in full force and effect in accordance with the provisions thereof.

 

c.  Amendments.  The provisions of this Letter Agreement Amendment may not be amended, modified or supplemented, and waivers or consents to departure from the provisions hereof may not be given, except by the written consent of all parties hereto.

 

[Signature page follows]

 

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    
	
 
    	
JAGUAR   HEALTH, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lisa A. Conte
    
	
 
    	
Name:
    	
Lisa   A. Conte
    
	
 
    	
Title:
    	
President &   CEO
    
	
 
    	
 
    
	
M.   KINGDON OFFSHORE MASTER FUND, L.P.
    	
 
    
	
 
    	
 
    
	
By:   Kingdon Capital Management, L.L.C.,
    	
 
    
	
in   its capacity as agent and investment adviser
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   William Walsh
    	
 
    
	
Name:
    	
William   Walsh
    	
 
    
	
Title:
    	
Chief   Financial Officer
    	
 
    
	
 
    	
 
    
	
KINGDON   FAMILY PARTNERSHIP, L.P.
    	
 
    
	
 
    	
 
    
	
By:   Kingdon Capital Management, L.L.C.,
    	
 
    
	
in   its capacity as agent and investment adviser
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   William Walsh
    	
 
    
	
Name:
    	
William   Walsh
    	
 
    
	
Title:
    	
Chief   Financial Officer
    	
 
    
	
 
    	
 
    
	
KINGDON   CREDIT MASTER FUND L.P.
    	
 
    
	
 
    	
 
    
	
By:   Kingdon Capital Management, L.L.C.,
    	
 
    
	
in   its capacity as agent and investment adviser
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   William Walsh
    	
 
    
	
Name:
    	
William   Walsh
    	
 
    
	
Title:
    	
Chief   Financial OfficerExhibit 10.35

 

Napo Pharmaceuticals, Inc.
 201 Mission Street, Suite 2375
 San Francisco, CA 94105

 

August 28, 2017

 

VIA ELECTRONIC MAIL

Dorsar Investment Company

Alco Investment Company

Two Daughters LLC

 

Dear All:

 

Reference is hereby made to that certain Debt and Warrant Settlement Agreement, dated March 31, 2017 (the “Settlement Agreement”), by and among Dorsar Investment Company (together with all affiliates, collectively referred to herein as “Dorsar”), Alco Investment Company (“Alco”), Two Daughters LLC (“Two Daughters” and, together with Dorsar and Alco, collectively, the “Feinberg Parties” and each, individually, a “Feinberg Party”), and Napo Pharmaceuticals, Inc. (“Napo”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Settlement Agreement.

 

The parties have agreed to extend the Filing Date set forth in the Settlement Agreement until October 20, 2017, and this letter agreement (the “Letter Agreement”) shall serve as an amendment to the Settlement Agreement and as written evidence of the mutual agreement among the parties to extend the Filing Date.

 

1.              Settlement Agreement Amendment.  Accordingly, Napo and the Feinberg Parties hereby agree that Section 8.a of the Settlement Agreement is hereby deleted in its entirety and replaced as follows:

 

“a.  No later than October 20, 2017 (the “Filing Date”), Jaguar shall prepare and file with the Securities and Exchange Commission (the “Commission”), a Registration Statement on Form S-3 (or such other form available) covering the public resale of the Debt Settlement Securities and shall cause such Registration Statement to be filed by the Filing Date for such Registration Statement and use reasonable best efforts to have the Registration Statement declared effective under the Securities Act as soon as possible thereafter (the “Effectiveness Date”). Jaguar shall use its reasonable best efforts to keep such Registration Statement continuously effective under the Securities Act during the entire Effectiveness Period.”

 

2.              Miscellaneous.

 

a.  Effectiveness.  From and after the date hereof, all references to the Settlement Agreement shall mean the Settlement Agreement as amended by this Letter Agreement.

 

 

b.  Other Provisions Unaffected.  Except as modified by this Letter Agreement, the Settlement Agreement is unchanged and shall continue in full force and effect in accordance with the provisions thereof.

 

c.  Amendments.  The provisions of this Letter Agreement may not be amended, modified or supplemented, and waivers or consents to departure from the provisions hereof may not be given, except by the written consent of all parties hereto.

 

[Signature page follows]

 

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    
	
 
    	
NAPO   PHARMACEUTICALS, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lisa A. Conte
    
	
 
    	
Name:
    	
Lisa   A. Conte
    
	
 
    	
Title:
    	
President &   CEO
    
	
 
    	
 
    
	
FEINBERG   PARTIES:
    	
 
    
	
 
    	
 
    
	
DORSAR   INVESTMENT COMPANY
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   William Feinberg
    	
 
    
	
Name:
    	
William   Feinberg
    	
 
    
	
Title:
    	
President,   Dorsar Investment
    	
 
    
	
 
    	
Management,   GP of
    	
 
    
	
 
    	
 
    
	
ALCO   INVESTMENT COMPANY
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Douglas C. Rosen
    	
 
    
	
Name:
    	
Douglas   C. Rosen
    	
 
    
	
Title:
    	
Secretary
    	
 
    
	
 
    	
 
    
	
TWO   DAUGHTERS LLC
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Craig E. Tall
    	
 
    
	
Name:
    	
Craig   E. Tall
    	
 
    
	
Title:
    	
Manager

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