secwatch.observer — SEC 8-K summary
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Issuer:     Rafael Holdings, Inc. (RFL)
CIK:        0001713863
Form:       8-K
Filed at:   2025-06-04T23:59:59+00:00
Accession:  0001213900-25-051166
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1713863/000121390025051166/0001213900-25-051166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1713863/000121390025051166/ea0244725-8k_rafael.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-051166

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