- Rafael Holdings (RFL, Financial) has announced a $25 million rights offering to support the development of Trappsol® Cyclo™.
- Shareholders can purchase additional Class B shares at $1.28 per share, with a standby purchase agreement in place from Executive Chairman Howard Jonas.
- The rights offering is available from May 13 to May 29, 2025.
Rafael Holdings, Inc. (RFL) announced an update on its previously disclosed $25 million rights offering to back the development and potential launch of Trappsol® Cyclo™. Each shareholder of Class A or Class B common stock, as well as holders of Public Warrants, will receive one non-transferable subscription right for each share held as of May 9, 2025.
Each subscription right allows holders to purchase 0.603 shares of Class B common stock at a subscription price of $1.28 per share. Holders of Public Warrants receive 0.3525 subscription rights per warrant, with three warrants required for one full subscription right. Importantly, the Executive Chairman Howard Jonas has committed to purchasing any unsubscribed shares through a Standby Purchase Agreement, ensuring that the full $25 million will be raised regardless of participation levels.
The rights offering period runs from May 13 until May 29, 2025, concluding at 5:00 PM ET, unless extended or terminated earlier. The capital raised will primarily support the advancement and potential market introduction of Trappsol® Cyclo™, which targets Niemann-Pick Disease Type C1. The initiative is strategically designed to bolster Rafael Holdings' financial position and boost its growth trajectory.
As part of regulatory compliance, a registration statement relating to the Class B common stock was filed with the SEC on April 18, 2025, and became effective on April 29, 2025. Investors and shareholders are encouraged to review all subscription materials provided by Rafael Holdings and consult with their legal and financial advisors when considering participation in the offering.
