Rafael Holdings converts $2.5M note into 39.5% stake in Cyclo Therapeutics

Rafael Holdings, Inc.

Converted $2,500,000 of outstanding convertible note principal into 3,968,254 shares of Cyclo common stock.
Conversion price set at $0.63, the December 20, 2024 closing price of Cyclo's stock on Nasdaq.
Rafael now beneficially owns 39.5% of Cyclo Therapeutics' issued and outstanding common shares.

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