secwatch.observer — SEC 8-K summary
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Issuer:     Rafael Holdings, Inc. (RFL)
CIK:        0001713863
Form:       8-K
Filed at:   2024-08-22T23:59:59+00:00
Accession:  0001213900-24-071659
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rafael Holdings to merge with Cyclo Therapeutics; deal values Cyclo at $0.95/share
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- Rafael issues Class B common stock to Cyclo holders based on exchange ratio valuing Cyclo at $0.95/share and Rafael at net cash value.
- Merger expected to close in Q4 2024, subject to shareholder approvals and SEC effectiveness of Form S-4.
- Rafael will fund Cyclo's TransportNPC Phase 3 trial to 48-week interim analysis; enrollment complete, results expected mid-2025.
- Cyclo directors enter 6-month lock-up; Howard Jonas agrees to vote in favor of share issuance.
- Rafael also provides $3M convertible note to Cyclo under amended note purchase agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1713863/000121390024071659/0001213900-24-071659-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1713863/000121390024071659/ea0212085-8k425_rafael.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-071659

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