---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-045976"
form_type: "8-K"
ticker: "RFL"
cik: "0001713863"
company_name: "Rafael Holdings, Inc."
filed_at: "2023-06-05T23:59:59+00:00"
generated_at: "2026-06-14T07:26:02.074071+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Rafael Holdings invests $5M in Cyclo Therapeutics for 4M shares and warrant

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-23-045976
- form_type: 8-K
- ticker: RFL
- cik: 0001713863
- company_name: Rafael Holdings, Inc.
- filed_at: 2023-06-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713863/000121390023045976/0001213900-23-045976-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713863/000121390023045976/ea179750-8k_rafaelhold.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-045976
- JSON: https://secwatch.observer/filing/0001213900-23-045976.json
- Plain text: https://secwatch.observer/filing/0001213900-23-045976.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.