Rafael Holdings gains ~67% control of Cornerstone via debt conversion and $1.5M investment

Rafael Holdings, Inc.

Converted $29.2M line of credit and $2.1M loan into 32.2M common shares at $0.97/sh.
Converted preferred stock into 6.1M common shares; invested $1.5M cash for 1.5M additional shares.
Now indirectly owns or controls 67.03% of Cornerstone's total outstanding equity.
RP Finance (37.5%-owned entity) received 3.66M shares for extending $21.9M debt maturity.
Majority of Cornerstone debt holders agreed to convert notes or extend maturity; mutual releases executed.

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