---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-051166"
form_type: "8-K"
ticker: "RFL"
cik: "0001713863"
company_name: "Rafael Holdings, Inc."
filed_at: "2025-06-04T23:59:59+00:00"
generated_at: "2026-05-20T00:01:39.084750+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Rafael Holdings completes rights offering raising ~$24.9M net; backstop purchase by CEO for $21M

## Summary
- Rights offering: 3,130,480 shares subscribed at $1.28 for gross proceeds of $4.0M from non-backstop holders.
- Backstop purchase: Howard Jonas and related parties to buy 16,400,770 shares at $1.28, aggregate $20.99M.
- Net proceeds of ~$24.9M to fund regulatory approval efforts and potential launch of Trappsol Cyclo for NPC1.
- Post-closing shares outstanding: ~50.9M Class B common and 787k Class A common (convertible 1:1).
- Backstop shares issued in reliance on Section 4(a)(2) exemption; purchasers are accredited investors.

## SEC filing metadata
- accession: 0001213900-25-051166
- form_type: 8-K
- ticker: RFL
- cik: 0001713863
- company_name: Rafael Holdings, Inc.
- filed_at: 2025-06-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713863/000121390025051166/0001213900-25-051166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713863/000121390025051166/ea0244725-8k_rafael.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-051166
- JSON: https://secwatch.observer/filing/0001213900-25-051166.json
- Plain text: https://secwatch.observer/filing/0001213900-25-051166.txt

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