Rafael Holdings, Inc. Announces Proposed Terms of a $25 Million Rights Offering to Support Its Commitment to the Development and Potential Launch of Trappsol® Cyclo™

Core Viewpoint - Rafael Holdings, Inc. announced a rights offering aimed at raising $25 million to support the potential launch of Trappsol® Cyclo™ pending positive interim results from a clinical trial for Niemann-Pick Disease Type C1 [1][10] Rights Offering Details - The rights offering allows existing stockholders and holders of public warrants to purchase additional shares of Class B common stock at a subscription price of $1.28 per share [3] - Each holder will receive one non-transferable subscription right for each share held as of the Record Date, allowing them to purchase 0.526 of a share of Class B Common Stock [3] - The subscription period will run from May 13, 2025, to May 29, 2025, with the possibility of extension or termination by the company [5][8] Standby Purchase Agreement - Howard Jonas, the Executive Chairman, will enter into a Standby Purchase Agreement to buy any unsubscribed shares at the same subscription price [4] Important Dates - May 8, 2025: Ownership Day for shares and/or public warrants to be acquired to qualify as a holder of record [8] - May 9, 2025: Record Date for eligibility in the rights offering [8] - May 13, 2025: Subscription Period Begins [8] - May 29, 2025: Subscription Period Ends at 5:00 PM ET [8] SEC Registration - A registration statement for the Class B Common Stock was filed with the SEC on April 18, 2025, and declared effective on April 29, 2025 [7]