Rafael Holdings, Inc. Announces Revised Subscription Rights in Connection With its Previously Announced $25 Million Rights Offering to Support Its Commitment to the Development and Potential Launch of Trappsol® Cyclo™

Core Points - Rafael Holdings, Inc. announced revised subscription rights for its rights offering, with a Record Date of May 9, 2025 [1][5] - The rights offering will allow holders to purchase shares of Class B Common Stock at a subscription price of $1.28 per share [3][4] - The subscription period will run from May 13, 2025, to May 29, 2025, unless extended or terminated [5][7] Rights Offering Details - Each holder will receive one non-transferable subscription right for each share held as of the Record Date, allowing the purchase of 0.603 of a share of Class B Common Stock [3] - Subscription rights can only be exercised in whole numbers, and fractional shares will not be issued [3] - Howard Jonas, the Executive Chairman, will enter into a Standby Purchase Agreement to buy any unsubscribed shares at the same price [4] Participation Requirements - Former holders of Cyclo Therapeutics, Inc. must submit their letter of transmittal to Equiniti Trust Company to participate in the rights offering [2] - Holders must complete open market purchases by May 8, 2025, to be considered record holders on the Record Date [1][7] Important Dates - May 8, 2025: Ownership Day for shares and/or Public Warrants [7] - May 9, 2025: Record Date [7] - May 13, 2025: Subscription Period Begins [7] - May 29, 2025: Subscription Period Ends at 5:00 PM ET [5][7] Company Overview - Rafael Holdings, Inc. holds interests in clinical and early-stage pharmaceutical companies, including Cyclo Therapeutics, LLC, which is developing Trappsol Cyclo™ for Niemann-Pick Disease Type C1 [10]