other material
confidence high
sentiment neutral
materiality 0.80
Howard Jonas gains control of Rafael Holdings via share transfer to his limited partnership
Rafael Holdings, Inc.
- On July 31, 2023, eight trusts transferred 787,163 Class A shares (51.3% voting power) to a limited partnership controlled by Howard Jonas.
- Howard Jonas, Executive Chairman, is sole manager of GP, giving him sole voting and dispositive power over the shares.
- Following the transfer, Jonas becomes controlling stockholder; company becomes a controlled company under NYSE rules.