Rafael Holdings, Inc. Provides Update to the Description of Subscription Rights Related to its Public Warrants in Connection With its Previously Announced $25 Million Rights Offering to Support Its Commitment to the Development and Potential Launch of Trappsol® Cyclo™
Rafael Holdings (NYSE: RFL) has provided an update on its previously announced $25 million rights offering for Class B common stock. The company is distributing one non-transferable subscription right for each share of Class B or Class A common stock, or for shares issuable upon exercise of Public Warrants held as of May 9, 2025.
Each subscription right allows holders to purchase 0.603 shares of Class B common stock at $1.28 per share. Public Warrant holders receive 0.3525 subscription rights, with three warrants equaling one full subscription right. The subscription period runs from May 13 to May 29, 2025. Executive Chairman Howard Jonas has agreed to purchase any unsubscribed shares through a Standby Purchase Agreement at the same subscription price.
The offering aims to support the development and potential launch of Trappsol® Cyclo™.Rafael Holdings (NYSE: RFL) ha fornito un aggiornamento sulla sua precedente offerta di diritti da 25 milioni di dollari per azioni ordinarie di Classe B. La società sta distribuendo un diritto di sottoscrizione non trasferibile per ogni azione ordinaria di Classe B o Classe A, o per le azioni emettibili tramite l'esercizio dei Public Warrants detenuti al 9 maggio 2025.
Ogni diritto di sottoscrizione consente ai titolari di acquistare 0,603 azioni ordinarie di Classe B a 1,28 dollari per azione. I possessori di Public Warrants ricevono 0,3525 diritti di sottoscrizione, con tre warrant che corrispondono a un diritto di sottoscrizione completo. Il periodo di sottoscrizione va dal 13 maggio al 29 maggio 2025. Il Presidente Esecutivo Howard Jonas si è impegnato ad acquistare eventuali azioni non sottoscritte tramite un Accordo di Acquisto Standby allo stesso prezzo di sottoscrizione.
L'offerta mira a sostenere lo sviluppo e il potenziale lancio di Trappsol® Cyclo™.
Rafael Holdings (NYSE: RFL) ha proporcionado una actualización sobre su previamente anunciada oferta de derechos por 25 millones de dólares para acciones comunes Clase B. La compañía está distribuyendo un derecho de suscripción no transferible por cada acción común Clase B o Clase A, o por las acciones emitibles al ejercer los Public Warrants en poder al 9 de mayo de 2025.
Cada derecho de suscripción permite a los titulares comprar 0.603 acciones comunes Clase B a 1.28 dólares por acción. Los poseedores de Public Warrants reciben 0.3525 derechos de suscripción, siendo tres warrants equivalentes a un derecho de suscripción completo. El período de suscripción es del 13 al 29 de mayo de 2025. El Presidente Ejecutivo Howard Jonas ha acordado comprar las acciones no suscritas mediante un Acuerdo de Compra en Espera al mismo precio de suscripción.
La oferta tiene como objetivo apoyar el desarrollo y el posible lanzamiento de Trappsol® Cyclo™.
Rafael Holdings (NYSE: RFL)는 이전에 발표한 2,500만 달러 규모의 권리 공모에 대한 업데이트를 제공했습니다. 회사는 2025년 5월 9일 기준으로 보유한 클래스 B 또는 클래스 A 보통주 또는 공공 워런트 행사로 발행 가능한 주식 1주당 1개의 양도 불가능한 청약권을 배포하고 있습니다.
각 청약권은 보유자에게 주당 1.28달러에 클래스 B 보통주 0.603주를 구매할 수 있는 권리를 제공합니다. 공공 워런트 보유자는 0.3525개의 청약권을 받으며, 3개의 워런트가 1개의 완전한 청약권에 해당합니다. 청약 기간은 2025년 5월 13일부터 5월 29일까지입니다. 최고경영자 하워드 조나스는 미청약 주식을 동일한 청약 가격으로 대기 매입 계약을 통해 구매하기로 동의했습니다.
이번 공모는 Trappsol® Cyclo™의 개발 및 잠재적 출시를 지원하는 것을 목표로 합니다.
Rafael Holdings (NYSE : RFL) a fourni une mise à jour concernant son offre de droits de 25 millions de dollars précédemment annoncée pour les actions ordinaires de classe B. La société distribue un droit de souscription non transférable pour chaque action ordinaire de classe B ou A, ou pour les actions susceptibles d'être émises suite à l'exercice des Public Warrants détenus au 9 mai 2025.
Chaque droit de souscription permet aux détenteurs d'acheter 0,603 action ordinaire de classe B au prix de 1,28 dollar par action. Les détenteurs de Public Warrants reçoivent 0,3525 droits de souscription, trois warrants équivalant à un droit de souscription complet. La période de souscription s'étend du 13 au 29 mai 2025. Le président exécutif Howard Jonas s'est engagé à acheter les actions non souscrites via un accord d'achat de réserve au même prix de souscription.
L'offre vise à soutenir le développement et le lancement potentiel de Trappsol® Cyclo™.
Rafael Holdings (NYSE: RFL) hat ein Update zu seinem zuvor angekündigten 25-Millionen-Dollar Bezugsrechtangebot für Stammaktien der Klasse B veröffentlicht. Das Unternehmen verteilt ein nicht übertragbares Bezugsrecht für jede Aktie der Klasse B oder Klasse A oder für Aktien, die durch Ausübung der Public Warrants zum 9. Mai 2025 ausgegeben werden können.
Jedes Bezugsrecht berechtigt die Inhaber zum Kauf von 0,603 Aktien der Klasse B zu je 1,28 USD. Inhaber von Public Warrants erhalten 0,3525 Bezugsrechte, wobei drei Warrants einem vollen Bezugsrecht entsprechen. Die Bezugsfrist läuft vom 13. bis 29. Mai 2025. Executive Chairman Howard Jonas hat sich bereit erklärt, nicht gezeichnete Aktien zum gleichen Bezugspreis durch eine Standby-Kaufvereinbarung zu erwerben.
Das Angebot zielt darauf ab, die Entwicklung und den möglichen Start von Trappsol® Cyclo™ zu unterstützen.
- Executive Chairman Howard Jonas commits to purchase any unsubscribed shares, ensuring full subscription
- Rights offering provides opportunity for existing shareholders to participate in company growth
- Proceeds will support development and potential launch of Trappsol® Cyclo™
- Potential dilution for shareholders who do not participate in the rights offering
- Complex subscription structure may discourage participation
Insights
Rafael Holdings is raising $25M through a rights offering with guaranteed funding, strengthening their financial position for Trappsol® Cyclo™ development and potential launch.
Rafael Holdings is conducting a $25 million rights offering to support development and potential launch of Trappsol® Cyclo™, with shareholders able to purchase additional Class B shares at
What's particularly notable is the backstop commitment from Executive Chairman Howard Jonas, who will purchase any unsubscribed shares in a private placement at the same price. This effectively guarantees the full
The rights offering runs from May 13 to May 29, 2025, giving shareholders limited time to participate. The company has taken proper regulatory steps with SEC registration becoming effective April 29, 2025. This capital raise appears strategically timed to fund the final stages of Trappsol® Cyclo™ development and potential commercialization.
This financing structure allows existing shareholders to maintain their proportional ownership while ensuring the company receives its targeted funding amount. The
NEWARK, N.J., May 20, 2025 (GLOBE NEWSWIRE) -- Rafael Holdings, Inc. (NYSE: RFL; NYSE American: RFL-WT) today provided an update to the subscription rights related to its Public Warrants in connection with its previously announced rights offering.
Under the rights offering, Rafael Holdings has distributed one (1) non-transferable subscription right for each share of Class B common stock or Class A common stock, or for each share of Class B common stock issuable upon exercise of the outstanding warrants, initially issued on May 11, 2020 by Cyclo Therapeutics, Inc. (the “Public Warrants”), in each case, held as of May 9, 2025, the record date for the rights offering.
Each subscription right will entitle the Holder of a share of Class A common stock or Class B common stock to purchase 0.603 of a share of Class B common stock at a subscription price of
Each Holder of a Public Warrant received 0.3525 of a subscription right (corresponding to the ratio between Public Warrants and the portion of a share of Class B common stock for which each is exercisable). Accordingly, a holder of three (3) Public Warrants received a full subscription right. Each full subscription right entitles the Holder to purchase 0.603 of a share of Class B common stock at a subscription price of
Subscription rights may only be exercised in whole numbers, and fractional shares will not be issued. The number of shares that may be purchased by each holder of subscription rights will be rounded down to the nearest whole number.
All terms of the rights offering remain unchanged.
Howard Jonas, the Company’s Executive Chairman and Chairman of the Board will enter into a Standby Purchase Agreement with the Company pursuant to which he will purchase from the Company, in a private placement, any shares of Class B common stock not subscribed for in the proposed rights offering for the same subscription price payable by holders electing to exercise the subscription rights in the proposed rights offering.
The rights offering will be subject to certain conditions, and Rafael Holdings reserves the right to terminate the rights offering at any time prior to its expiration date.
The subscription rights are non-transferable and may only be exercised during the subscription period, which commenced on May 13, 2025, and expires 5:00 PM ET on May 29, 2025, unless extended or terminated earlier by Rafael Holdings.
Rafael Holdings has engaged D.F. King & Co., Inc. as the Information Agent for the rights offering. For questions or to request copies of the prospectus supplement, please contact D.F. King at (800) 992-3086 or via email at rfl@dfking.com.
Neither Rafael Holdings nor its Board of Directors has made any recommendation regarding whether Holders should exercise their subscription rights. Holders are encouraged to carefully review the subscription materials provided by Rafael Holdings and consult with their legal and financial advisors before making a decision.
SEC Registration
A registration statement relating to the Class B common stock has been filed with the SEC on April 18, 2025, and was declared effective on April 29, 2025. The rights offering will be made solely by means of a written prospectus supplement describing the terms of the rights offering and how Holders may exercise their subscription rights in the proposed rights offering and will be available on the SEC’s website at https://www.sec.gov when filed. Copies of the prospectus supplement, when available, will be mailed to Holders as of the Record Date and may be obtained from D.F. King & Co., email: rfl@dfking.com, or telephone: (800) 992-3086.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Rafael Holdings, Inc.
Rafael Holdings, Inc. holds interests in clinical and early-stage pharmaceutical and certain other companies, including our wholly-owned subsidiary, Cyclo Therapeutics, LLC, a clinical stage biotechnology company dedicated to developing Rafael’s lead clinical candidate, Trappsol® Cyclo™, which is being evaluated in clinical trials for the potential treatment of Niemann-Pick Disease Type C1 (“NPC1”), a rare, fatal, and progressive genetic disorder. Rafael also holds majority equity interests in LipoMedix Pharmaceuticals Ltd., a clinical stage pharmaceutical company, Cornerstone Pharmaceuticals, Inc., formerly known as Rafael Pharmaceuticals Inc., a cancer metabolism-based therapeutics company, Rafael Medical Devices, LLC, an orthopedic-focused medical device company developing instruments to advance minimally invasive surgeries, and Day Three Labs, Inc., a company which empowers third-party manufacturers to reimagine their existing cannabis offerings.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our expectations surrounding the potential, safety, efficacy, and regulatory and clinical progress of our product candidates; plans regarding the further evaluation of clinical data; and the potential of our pipeline, including our internal cancer metabolism research programs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, those disclosed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended July 31, 2024, and our other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
For further information, please contact:
D.F. King & Co., Inc. (Information Agent)
Toll-Free Number: (800) 992-3086
Email: rfl@dfking.com
Investor Contact:
Rafael Holdings, Inc.
Barbara Ryan
Barbara.ryan@rafaelholdings.com
(203) 274-2825
FAQ
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