Rafael Holdings, Inc. bought CYTH
December 23, 2024 · Form 4 insider transaction
Rafael Holdings, Inc. bought 3,968,254 shares of CYTH at $0.63 per share, a transaction worth $2.50M. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 21 days after the transaction.
Footnotes
On December 23, 2024, the reporting person gave notice to the issuer that it had elected to convert $2,500,000 of the outstanding balance of the Convertible Promissory Note, dated August 21, 2024, made by the issuer in favor of the reporting person, into 3,968,254 shares of the issuer's common stock, at a conversion price of $0.63. The conversion price was based on the closing price of the issuer's common stock on The Nasdaq Capital Market on December 20, 2024, the trading date immediately preceding the date of conversion.