---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-022185"
form_type: "8-K"
ticker: "RFL"
cik: "0001713863"
company_name: "Rafael Holdings, Inc."
filed_at: "2024-03-13T23:59:59+00:00"
generated_at: "2026-06-04T22:24:46.560010+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-24-022185
- form_type: 8-K
- ticker: RFL
- cik: 0001713863
- company_name: Rafael Holdings, Inc.
- filed_at: 2024-03-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713863/000121390024022185/0001213900-24-022185-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713863/000121390024022185/ea0201667-8k_rafael.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-022185
- JSON: https://secwatch.observer/filing/0001213900-24-022185.json
- Plain text: https://secwatch.observer/filing/0001213900-24-022185.txt

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