Rafael Holdings, Inc. (RFL): M&A transaction — Rafael Holdings completes merger with Cyclo Therapeutics after shareholder approvals

Rafael Holdings, Inc.

Cyclo shareholders received 0.3525 shares of Rafael Class B common stock per share; Rafael issued approximately 7,132,228 shares.
Cyclo's Phase 3 TransportNPC trial for Niemann-Pick Type C1 is fully enrolled; 48-week interim analysis expected mid-2025.
Markus W. Sieger, former Cyclo Chairman, appointed to Rafael board as independent director.
Certain Cyclo warrants converted into Rafael warrants; new warrants to be publicly traded on NYSE American around March 31, 2025.
Cyclo common stock (CYTH) suspended from Nasdaq as of March 25, 2025.

item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Markus W. Sieger

Director

RFL · Rafael Holdings, Inc.

Effective: 2025-03-25
Filed: March 26, 2025, 7:59 PM ET

On March 25, 2025, effective as of the Effective Time, Markus W. Sieger, former Chairman of the Board of Cyclo, was appointed as a member of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Markus W. Sieger was appointed as Director at Rafael Holdings, Inc..

Action: appointed
Role: Director

Exact text from the filing

On March 25, 2025, effective as of the Effective Time, Markus W. Sieger, former Chairman of the Board of Cyclo, was appointed as a member of the Board.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Rafael Holdings, Inc. completed an acquisition involving Cyclo Therapeutics, Inc. (closed 2025-03-25).

Action: acquisition
Counterparty: Cyclo Therapeutics, Inc.
Closing: 2025-03-25

Exact text from the filing

On March 25, 2025, Rafael Holdings, Inc., a Delaware corporation (“Rafael”), completed the previously announced business combination transaction with Cyclo Therapeutics, Inc., a Nevada corporation (“Cyclo”) contemplated by that certain Agreement and Plan of Merger, dated as of August 21, 2024

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Rafael Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001013762-25-002413

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