Filing Analysis
Rafael Holdings, Inc. has released an investor presentation via a Regulation FD disclosure. This filing is intended to provide supplemental information to the market and does not contain material changes to corporate structure or financial standing.
📋 Key Facts
- The company filed under Item 7.01 (Regulation FD).
- An Investor Presentation was released as Exhibit 99.1 on July 8, 2026.
- The presentation is available via the company's website.
Rafael Holdings, Inc. filed an 8-K to announce the distribution of its earnings release for the fiscal quarter ended April 30, 2026. The filing serves as a formal notice that financial results have been posted to the company's website and distributed via wire service.
📋 Key Facts
- The filing date is June 11, 2026.
- The report covers the fiscal quarter ended April 30, 2026.
- The earnings release is attached as Exhibit 99.1.
- The company's Class B common stock is traded on the New York Stock Exchange under the symbol RFL.
Rafael Holdings announced that the final patient has completed the 96-week study visit in the pivotal Phase 3 TransportNPC study for Trappsol Cyclo. The company expects to release topline data from the main study cohort in the second half of 2026.
📋 Key Facts
- Completion of the final 96-week study visit for the last patient in the Phase 3 TransportNPC study.
- The study evaluates Trappsol Cyclo for the treatment of Niemann-Pick Disease Type C.
- Topline data for the main study cohort is anticipated in H2 2026.
Rafael Holdings announced that its subsidiary, Cyclo Therapeutics, LLC, has entered into an exclusive licensing agreement with the Massachusetts Institute of Technology (MIT). The agreement covers a patent for the use of cyclodextrins to treat Alzheimer's Disease patients carrying the ApoE4 genetic mutation.
📋 Key Facts
- Exclusive licensing agreement with MIT for U.S. Patent No. 12285440.
- The patent focuses on Alzheimer's Disease (AD) patients with the ApoE4 genetic mutation.
- The agreement was announced on April 22, 2026.
- The technology involves the use of cyclodextrins.
Rafael Holdings, Inc. announced its financial results for the fiscal quarter ended January 31, 2026. The company furnished the earnings release via Item 2.02 and included the full press release as an exhibit.
📋 Key Facts
- The filing reports results for the fiscal quarter ended January 31, 2026.
- The report was filed on March 16, 2026.
- The earnings release was furnished as Exhibit 99.1.
- The information is furnished under Item 2.02 (Results of Operations and Financial Condition) and is not deemed 'filed' for liability purposes.
Rafael Holdings, Inc. held its Annual Meeting of Stockholders on January 8, 2026. The meeting resulted in the election of six directors and the ratification of CohnReznick LLP as the independent auditor.
📋 Key Facts
- Annual Meeting of Stockholders held on January 8, 2026.
- Six nominees elected to the Board of Directors: Susan Y. Bernstein, Alan Grayson, Howard S. Jonas, Markus W. Sieger, Mark N. Stein, and Michael J. Weiss.
- Ratification of CohnReznick LLP as independent registered public accounting firm for the Fiscal Year ending July 31, 2026 (99.13% approval).
- Approval of an amendment to the 2021 Equity Incentive Plan to increase available Class B common stock by 1,000,000 shares (82.34% approval).
Rafael Holdings, Inc. filed an 8-K to announce its results of operations for the fiscal quarter ended October 31, 2025. The filing serves as a formal announcement of earnings via a press release.
📋 Key Facts
- Report date: December 11, 2025
- Reporting period: Fiscal quarter ended October 31, 2025
- The company furnished results via an earnings release (Exhibit 99.1)
- Information is provided under Item 2.02 of Form 8-K
In connection with its merger with Cyclo Therapeutics, Inc., Rafael Holdings, Inc. issued 1,078,796 warrants to purchase Class B common stock. These warrants were created via the conversion of existing Cyclo warrants as part of the merger exchange ratio.
🚩 Red Flags
- Potential dilution for existing shareholders upon exercise of the new warrants.
📋 Key Facts
- Issued 1,078,796 warrants (RFL-WT) exercisable for 380,253 shares of Class B common stock.
- Exercise price is $14.19 per share.
- Warrants are listed on the NYSE American under symbol 'RFL-WT'.
- The issuance resulted from the conversion of Cyclo Therapeutics warrants as part of a merger agreement.
- Warrants expire at 5:00 pm EST on December 11, 2025.
Rafael Holdings, Inc. filed an 8-K to announce its results of operations for the fiscal quarter and fiscal year ended July 31, 2025. The filing serves as a formal notice that earnings data has been released via press release.
📋 Key Facts
- Report date: October 29, 2025
- Reporting period: Fiscal quarter and fiscal year ended July 31, 2025
- The company furnished results of operations pursuant to Item 2.02.
- Earnings release is included as Exhibit 99.1.
Rafael Holdings, Inc. announced the election of Alan Grayson and Markus Sieger to the Board of Directors and various committees. These appointments were made to fill vacancies following the recent passing of director Stephen Greenberg.
🚩 Red Flags
- Board vacancy caused by the death of a director (Stephen Greenberg).
📋 Key Facts
- Alan Grayson elected as a director and member of the Compensation, Corporate Governance and Nominating committees on October 23, 2025.
- Markus Sieger elected as a member and Chairman of the Audit Committee on October 23, 2025.
- Vacancies were created by the passing of Stephen Greenberg.
- Alan Grayson is a former Member of Congress (2009-2011, 2013-2017) and has an extensive background in government contracts law.
Rafael Holdings, Inc. has released an investor presentation via its website as per Regulation FD requirements. The filing contains no material changes to operations, finances, or corporate structure.
📋 Key Facts
- The company published a slide presentation (Exhibit 99.1) on its website: https://rafaelholdings.irpass.com/.
- The information is being furnished under Item 7.01 of Form 8-K, meaning it is not considered 'filed' for purposes of liability or incorporation by reference.
- The filing was signed by CFO David Polinsky on October 10, 2025.
Rafael Holdings announced a leadership shuffle involving the resignation of Chief Medical Officer John Goldberg and the appointment of Joshua Fine as Chief Operating Officer. The filing also details significant severance packages for departing/transitioning executives and highlights potential related-party concerns.
🚩 Red Flags
- Related-party transaction: The newly appointed COO (Joshua Fine) is the son of the Company's Vice Chairman (N. Scott Fine).
- Significant cash outflows for severance: Combined severance/release obligations for Goldberg and N. Scott Fine exceed $1 million.
- Potential governance concern regarding the appointment of a relative of a Board member to an executive role.
📋 Key Facts
- John Goldberg resigned as Chief Medical Officer effective July 31, 2025; receiving $218,195 in severance plus 99,429 shares of Class B common stock.
- Joshua Fine appointed as Chief Operating Officer with a base salary of $428,000 and $25,000 in stock options.
- N. Scott Fine (Vice Chairman) entered into a General Release Agreement including an $852,168 severance payment to be paid in 36 semi-monthly installments.
- Dr. Goldberg entered into a new consulting agreement with annual fees of $100,000.
Rafael Holdings, Inc. announced the election of N. Scott Fine as an ex-officio (non-voting) director and Vice Chairman, which necessitates his resignation from his role as CEO of Cyclo Therapeutics, LLC effective July 31, 2025. The transition includes a significant severance package for Mr. Fine.
🚩 Red Flags
- Significant cash outflow via $852,168 severance package for a departing subsidiary CEO.
- Structural changes to bylaws specifically to create non-voting/ex-officio positions may indicate shifts in corporate governance or control.
📋 Key Facts
- N. Scott Fine elected as ex-officio (non-voting) director and Vice Chairman on July 14, 2025.
- Scott Fine will resign as CEO of Cyclo Therapeutics, LLC effective July 31, 2025.
- The Company and Mr. Fine entered into a General Release Agreement.
- Severance payment to Mr. Fine is $852,168, payable in thirty-six semi-monthly installments.
- Agreement includes continued vesting of all outstanding unvested equity as long as he remains a service provider.
- The Board adopted the Fourth Amended and Restated By-Laws to accommodate ex-officio director roles.
Rafael Holdings, Inc. announced that its Phase 3 pivotal study for Trappsol® Cyclo™ in treating Niemann-Pick Disease Type C1 (NPC1) will continue following a positive interim analysis by an independent Data Monitoring Committee.
📋 Key Facts
- The 96-week pivotal Phase 3 TransportNPC study is proceeding based on safety and efficacy data from a prespecified 48-week interim analysis.
- Data was reviewed by an independent Data Monitoring Committee (DMC).
- The announcement was made via press release under Item 7.01/8.01.
Rafael Holdings, Inc. filed an 8-K to announce its results of operations for the fiscal quarter ended April 30, 2025. The filing serves as a formal mechanism to furnish earnings release information via Exhibit 99.1.
📋 Key Facts
- Report date: June 11, 2025
- Reporting period: Fiscal quarter ended April 30, 2025
- The filing contains an earnings release (Exhibit 99.1) regarding results of operations and financial condition.
- Information is furnished pursuant to Item 2.02 but not 'filed' for purposes of incorporation by reference.
Rafael Holdings, Inc. announced the completion of a $25 million capital raise via a Rights Offering and a backstop purchase agreement. The remaining unsubscribed shares (16.4 million) are being purchased by the CEO, Howard S. Jonas, and related parties.
🚩 Red Flags
- Significant related-party transaction: The CEO (Howard S. Jonas) is acting as the 'Standby Purchaser' for the unsubscribed portion of the equity offering.
- High dilution risk: Issuance of over 16 million new shares to an insider/related parties significantly increases the share count.
📋 Key Facts
- Rights Offering raised $4,007,014 through 3,130,480 exercised shares at $1.28 per share.
- Backstop Purchase involves the issuance of 16,400,770 Class B common stock shares to CEO Howard S. Jonas and related parties.
- The Backstop Securities are being sold at $1.28 per share.
- Total estimated net proceeds from both offerings are approximately $24.9 million.
- Post-offering outstanding Class B common stock is approximately 50,879,164 shares.
Rafael Holdings, Inc. issued a press release updating the subscription rights for holders of its Public Warrants in connection with an ongoing rights offering. The update clarifies the ratio of subscription rights to warrants and the specific terms for purchasing Class B Common Stock.
🚩 Red Flags
- Rights offerings in micro-cap companies are often used to raise capital for immediate liquidity needs, which can lead to significant dilution for existing shareholders.
📋 Key Facts
- Issued on May 20, 2025, regarding a previously announced rights offering.
- Public Warrant holders receive 0.3525 non-transferable subscription rights per warrant.
- A full subscription right allows the purchase of 0.603 shares of Class B Common Stock.
- The subscription price is set at $1.28 per share.
Rafael Holdings entered into a Standby Purchase Agreement with its Executive Chairman and Board Chairman, Howard S. Jonas, to facilitate a $25 million rights offering of Class B Common Stock. The agreement includes a backstop provision where the Chairman will purchase any unsubscribed shares at $1.28 per share.
🚩 Red Flags
- Related-party transaction involving the Executive Chairman and Board Chairman.
- Significant dilution potential via the issuance of Class B Common Stock.
- Backstop agreement with an insider suggests uncertainty in raising capital from public/other shareholders.
- The Backstop Securities do not include registration rights for the Standby Purchaser.
📋 Key Facts
- Date of Agreement: May 6, 2025
- Total Rights Offering Value: $25 million
- Subscription Price: $1.28 per share of Class B Common Stock
- Standby Purchaser: Howard S. Jonas (Executive Chairman and Chairman of the Board)
- Backstop Provision: The Chairman will purchase all unsubscribed shares within 10 days after the rights offering closes.
- Record Date for Rights Offering: May 9, 2025
- The Standby Purchaser is not entitled to a fee but may be reimbursed for reasonable expenses.
Rafael Holdings, Inc. has announced a revision to its previously announced rights offering, increasing the number of shares available for subscription per right.
🚩 Red Flags
- Modification of terms in a rights offering can indicate shifting capital requirements or difficulty meeting previous targets.
📋 Key Facts
- Revised subscription ratio: Each subscription right now entitles holders to purchase 0.603 shares of Class B Common Stock.
- Previous subscription ratio was 0.526 shares per right.
- Subscription price remains unchanged at $1.28 per share.
- The announcement was made via press release on May 5, 2025.
Rafael Holdings, Inc. announced a proposed rights offering to distribute non-transferable subscription rights for Class B Common Stock at $1.28 per share. The offering is fully backstopped by the Company's Executive Chairman and Chairman of the Board, Howard Jonas.
🚩 Red Flags
- Related-party transaction: The offering is fully backstopped by the Executive Chairman (Howard Jonas), indicating potential reliance on insider capital to complete the raise.
- Dilution risk: Existing shareholders will face significant dilution through the issuance of new Class B Common Stock via subscription rights.
📋 Key Facts
- Proposed rights offering: 1 non-transferable subscription right for each share of Class A/B common stock and certain warrants held as of May 9, 2025 (Record Date).
- Subscription ratio: Each right entitles the holder to purchase 0.526 of a share of Class B Common Stock.
- Subscription price: $1.28 per share.
- Backstop agreement: The offering is fully backstopped by Executive Chairman and Board Chairman Howard Jonas via a standby purchase agreement.
Rafael Holdings, Inc. (RFL) filed an 8-K/A to provide audited financial statements and pro forma information following its completed business combination with Cyclo Therapeutics, Inc.
🚩 Red Flags
- The filing is an amendment to provide previously missing audited financials, which can sometimes indicate delays in closing or reporting complexities.
📋 Key Facts
- The filing is an amendment (8-K/A) to a previously filed 8-K regarding the completion of a merger.
- The transaction involved the merger of Cyclo Therapeutics, Inc. into Rafael Holdings, Inc. via two merger subs.
- Included in this filing are audited consolidated financial statements for Cyclo as of and for the years ended December 31, 2024, and 2023 (Exhibit 99.1).
- Included unaudited pro forma condensed combined financial information as of January 31, 2025, and July 31, 2024 (Exhibit 99.2).
Rafael Holdings, Inc. announced the resignation of CEO and President William Conkling effective May 31, 2025. Howard Jonas, the current Executive Chairman, will succeed him as CEO and President effective June 1, 2025.
🚩 Red Flags
- Concentrated control: A single family (the Jonas family) via trusts holds a controlling interest in both the registrant and its related entity IDT Corporation.
- Significant related-party transactions involving IDT Corporation and Cornerstone Pharmaceuticals.
- CEO departure accompanied by accelerated vesting of equity/stock options.
📋 Key Facts
- CEO William Conkling to resign on May 31, 2025; will enter a consulting arrangement with $100,000 annual fees and accelerated vesting of stock options/restricted stock.
- Executive Chairman Howard Jonas appointed as new CEO and President effective June 1, 2025.
- The Company's controlling interest is held by trusts for the benefit of Mr. Jonas’ nine children.
- Related-party transactions include $296,232 billed to the Company by IDT Corporation under a Transition Services Agreement in Fiscal 2024.
- Cornerstone Pharmaceuticals (a 67% owned subsidiary) owes the Company $910,800 as of July 31, 2024.
Rafael Holdings, Inc. completed a business combination (merger) with Cyclo Therapeutics, Inc. on March 25, 2025. The transaction resulted in the issuance of approximately 7.13 million shares of Rafael Class B Common Stock and the appointment of Markus W. Sieger to the Board.
🚩 Red Flags
- Significant dilution: Issuance of ~7.13 million new shares of Class B Common Stock.
📋 Key Facts
- Transaction completed on March 25, 2025.
- Exchange ratio: Cyclo stockholders receive 0.3525 shares of Rafael Class B Common Stock for each share held.
- Rafael issued approximately 7,132,228 shares of Class B Common Stock in connection with the merger.
- 618,702 Cyclo Options were converted into options to acquire Rafael Class B Common Stock.
- Markus W. Sieger (former Chairman of Cyclo) appointed to the Rafael Board as an independent director.
- Cyclo Therapeutics (formerly trading under 'CYTH' on Nasdaq) has suspended trading.
Rafael Holdings, Inc. announced the successful approval of a shareholder vote to issue Class B common stock in exchange for shares of Cyclo Therapeutics, Inc. as part of a proposed merger. The meeting also approved an adjournment of the special meeting to allow for further proxy solicitation if necessary.
🚩 Red Flags
- Potential dilution for existing shareholders due to the issuance of Class B common stock as part of the merger consideration.
📋 Key Facts
- Special Meeting held on March 20, 2025.
- Shareholders approved the issuance of Class B common stock in exchange for Cyclo Therapeutics, Inc. shares (99.92% approval).
- Shareholders approved the adjournment of the Special Meeting to allow for further proxy solicitation if needed (99.77% approval).
- The merger is pursuant to an Agreement and Plan of Merger dated August 21, 2024, with subsequent amendments in December 2024 and February 2025.
Rafael Holdings, Inc. has filed an 8-K to furnish its earnings release for the fiscal quarter ended January 31, 2025. The filing is a standard disclosure of quarterly results of operations and financial condition.
📋 Key Facts
- Report date: March 13, 2025
- Reporting period: Fiscal quarter ended January 31, 2025
- The company furnished an earnings release via Exhibit 99.1
- Information is being furnished under Item 2.02 of Form 8-K and is not considered 'filed' for purposes of incorporation by reference.
Rafael Holdings, Inc. has entered into an amendment to its merger agreement with Cyclo Therapeutics, Inc., extending the deadline for SEC effectiveness of the Form S-4 registration statement. The previous expiration date was February 15, 2025, and it is now extended to March 31, 2025.
🚩 Red Flags
- Repeated extensions: This is an amendment to a previously amended agreement, indicating delays in regulatory approval (SEC effectiveness).
- Time sensitivity: The merger is contingent on the SEC declaring the S-4 effective by the new deadline of March 31, 2025.
📋 Key Facts
- Amendment No. 2 to the Merger Agreement was executed on February 4, 2025.
- The 'Merger Agreement End Date' has been extended from February 15, 2025, to March 31, 2025.
- The extension is specifically related to the SEC declaring the Form S-4 effective.
- Rafael Holdings currently holds approximately 39.5% of Cyclo Therapeutics' outstanding common stock.
Rafael Holdings, Inc. held its Annual Meeting of Stockholders on January 9, 2025. The meeting resulted in the successful election of five directors and the ratification of CohnReznick LLP as the independent auditor.
📋 Key Facts
- Annual Meeting of Stockholders held on January 9, 2025.
- Five nominees (Susan Y. Bernstein, Stephen M. Greenberg, Howard S. Jonas, Mark N. Stein, and Michael J. Weiss) were elected to the Board of Directors for one-year terms.
- CohnReznick LLP was ratified as the independent registered public accounting firm for the Fiscal Year ending July 31, 2025 (99.93% votes in favor).
- Shareholders approved an amendment to the 2021 Equity Incentive Plan to increase available Class B common stock by 750,000 shares.
Rafael Holdings, Inc. has converted $2.5 million of a convertible promissory note into common stock of Cyclo Therapeutics, Inc. This conversion results in Rafael Holdings owning 39.5% of Cyclo's outstanding shares.
🚩 Red Flags
- The conversion involves a significant portion (83%) of the original note principal, indicating potential liquidity needs or structured debt settlement.
📋 Key Facts
- Conversion amount: $2,500,000 of the original $3,000,000 principal note.
- Shares received: 3,968,254 shares of Cyclo Therapeutics, Inc. common stock.
- Conversion price: $0.63 per share (based on Dec 20, 2024 closing price).
- Ownership stake: Rafael Holdings now beneficially owns 39.5% of Cyclo's issued and outstanding shares.
Rafael Holdings, Inc. filed an 8-K to furnish its earnings release for the fiscal quarter ended October 31, 2024. The filing is a standard regulatory procedure to disclose quarterly results of operations.
📋 Key Facts
- The company announced results for the fiscal quarter ended October 31, 2024.
- Results were distributed via wire service and posted to the company's website on December 11, 2024.
- The filing is made pursuant to Item 2.02 of Form 8-K.
Rafael Holdings, Inc. filed an 8-K to announce its results of operations for the fiscal quarter and fiscal year ended July 31, 2024. The filing serves as a formal notice that earnings were released via wire service and on the company's website.
📋 Key Facts
- Report date: November 6, 2024
- Reporting period: Fiscal quarter and fiscal year ended July 31, 2024
- The filing includes an earnings release as Exhibit 99.1
- Information is furnished under Item 2.02 but not considered 'filed' for incorporation by reference purposes.
Rafael Holdings, Inc. has entered into a definitive merger agreement to acquire Cyclo Therapeutics, Inc. through a two-step business combination involving the issuance of Rafael Class B Common Stock.
🚩 Red Flags
- Complexity of valuation: The consideration includes a variable component based on Rafael's cash value, marketable securities, and investments less current liabilities, which can lead to dilution uncertainty.
- Funding obligation: Rafael has committed to funding Cyclo's operations until the deal closes, creating an ongoing capital drain for the parent company.
📋 Key Facts
- Agreement and Plan of Merger signed on August 21, 2024.
- Transaction involves Rafael Holdings (Parent), Tandem Therapeutics, Inc. (First Merger Sub), Tandem Therapeutics, LLC (Second Merger Sub), and Cyclo Therapeutics, Inc. (Cyclo).
- Exchange ratio values Cyclo shares at $0.95 per share plus a portion of Rafael's cash value/marketable securities less current liabilities.
- Rafael has committed to funding Cyclo through the consummation of the merger or termination to cover operating costs and debts.
- The deal is expected to close in Q4 2024, subject to stockholder approvals and SEC effectiveness of Form S-4.
- Markus W. Sieger (current Cyclo director) will join the Rafael board upon closing.
Rafael Holdings, Inc. announced a change in its Board of Directors effective August 5, 2024. The company reported the resignation of director Mark McCamish and the election of Dr. Mark N. Stein to the Board and various committees.
🚩 Red Flags
- Immediate resignation of a director (Mark McCamish) can sometimes signal internal disagreement, though no reason was provided in the filing.
📋 Key Facts
- Mark McCamish resigned as a director, effective immediately on August 5, 2024.
- Dr. Mark N. Stein was elected as a director on August 5, 2024.
- Dr. Stein will serve on the Audit, Compensation, and Corporate Governance committees.
- Dr. Stein is an Associate Professor of Medicine at Columbia University Irving Medical Center with expertise in genitourinary malignancies.
Rafael Holdings, Inc. filed an 8-K to announce its results of operations for the fiscal quarter ended April 30, 2024. The filing serves as a formal notice that earnings information was released via wire service and the company website.
📋 Key Facts
- Reporting period: Fiscal quarter ended April 30, 2024.
- Filing date: June 14, 2024.
- The report includes an earnings release as Exhibit 99.1.
This is an amendment to a previous 8-K filing by Rafael Holdings, Inc. providing audited financial statements and pro forma information related to the acquisition of Cornerstone Pharmaceuticals, Inc.
🚩 Red Flags
- Complex corporate restructuring involving recapitalization and the consolidation of an LLC (RP Finance LLC), which can often mask debt or dilution issues in micro-cap entities.
📋 Key Facts
- Amendment No. 1 to the original March 13, 2024, Form 8-K.
- Includes audited financial statements for Cornerstone Pharmaceuticals, Inc. as of and for the year ended July 31, 2023.
- Includes unaudited financial statements for Cornerstone Pharmaceuticals, Inc. for the three months ended October 31, 2023.
- Provides unaudited pro forma condensed combined financial information regarding a recapitalization, restructuring of Cornerstone, acquisition of a controlling interest in Cornerstone, and consolidation of RP Finance LLC.
Rafael Holdings, Inc. filed an 8-K to announce its results of operations for the fiscal quarter ended January 31, 2024.
📋 Key Facts
- The filing is a standard earnings release under Item 2.02.
- Reporting period: Fiscal quarter ended January 31, 2024.
- Report date: March 13, 2024.
- Earnings release furnished as Exhibit 99.1.
Rafael Holdings, Inc. completed a major restructuring of Cornerstone Pharmaceuticals, Inc., resulting in the Company gaining indirect control with approximately 67.03% equity ownership. The transaction involved converting over $31 million in debt and preferred stock into common equity following a 1-for-10 reverse stock split.
🚩 Red Flags
- Reverse stock split (ten-for-one) used to facilitate debt conversion and equity restructuring.
- Complex VIE (Variable Interest Entity) accounting expected, as the Company does not consider this a 'business' under ASC 810.
- Significant concentration of control/governance involving family members (Howard Jonas, CEO William Conkling, and son-in-law Shmuel Levinger).
📋 Key Facts
- Cornerstone Pharmaceuticals, Inc. (formerly Rafael Pharmaceuticals, Inc.) underwent a restructuring of debt and equity interests on March 13, 2024.
- The Company converted ~$29.2M in line of credit debt and ~$2.1M in loan agreement debt into 32,197,679 shares at $0.97/share (post-reverse split).
- The Company invested an additional $1.5 million in cash to purchase 1,546,391 shares of Cornerstone Common Stock.
- Following the restructuring, the Company holds ~67.03% of Cornerstone's total outstanding equity.
- Cornerstone underwent a ten-for-one (1-for-10) reverse stock split as part of the conversion process.
- The transaction includes a mutual release from all obligations arising out of the terminated 2021 merger agreement.
Rafael Holdings, Inc. reported the results of its Annual Meeting of Stockholders held on January 10, 2024. The meeting included elections for the Board of Directors and advisory votes regarding auditor appointment and executive compensation.
📋 Key Facts
- Annual Meeting of Stockholders held on January 10, 2024.
- Five nominees (Susan Y. Bernstein, Stephen M. Greenberg, Howard S. Jonas, Mark A. McCamish, and Michael J. Weiss) were elected to the Board of Directors for one-year terms.
- Stockholders ratified the appointment of CohnReznick LLP as the independent registered public accounting firm for the fiscal year ending July 31, 2024 (99.70% in favor).
- Advisory vote on executive compensation was approved with 87.32% in favor.
- Stockholders voted to hold advisory votes on executive compensation once every three years.