other material
confidence high
sentiment neutral
materiality 0.50
Rafael Holdings invests $5M in Cyclo Therapeutics for 4M shares and warrant
Rafael Holdings, Inc.
- Rafael Holdings to purchase 4M shares of Cyclo Therapeutics common stock plus warrant for additional 4M shares at $1.25 per share; total investment $5M.
- Warrant exercisable at $1.25/share for 7 years from issuance.
- Closing subject to Cyclo stockholder approval per Nasdaq Listing Rule 5635.
- Rafael Holdings gets board designee (additional to CEO William Conkling) on Cyclo's board.
- Registration rights agreement amended to require filing for resale of shares and warrant shares upon request.