{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-036180","form_type":"8-K/A","ticker":"RFL","cik":"0001713863","company_name":"Rafael Holdings, Inc.","filed_at":"2025-04-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.445734+00:00","generated_at":"2026-05-23T05:04:30.552737+00:00","sec_items":["9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Rafael acquires Cyclo; Cyclo's 2024 net loss $23.3M, accumulated deficit $107.2M","bullets":["Cyclo's 2024 net loss $23.3M ($0.81/share), revenue $0.9M, accumulated deficit $107.2M.","Cash and equivalents $0.5M at Dec 31, 2024; negative working capital $16.8M.","Rafael loaned $21M to Cyclo via convertible notes; all debt forgiven upon merger close.","Exchange ratio finalized at 0.3535 Rafael shares per Cyclo share, valuing Cyclo at $0.95.","Merger closed March 25, 2025; Cyclo now operates as Cyclo Therapeutics, LLC."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-036180","json":"https://secwatch.observer/filing/0001213900-25-036180.json","markdown":"https://secwatch.observer/filing/0001213900-25-036180.md","text":"https://secwatch.observer/filing/0001213900-25-036180.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1713863/000121390025036180/0001213900-25-036180-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1713863/000121390025036180/ea0239462-8ka1_rafael.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T05:04:30.552737+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}