Jul. 6 at 11:00 PM
If Google is right, it appears CEO Howard Jonas offloaded nearly 5m of his free shares in Raphael for
$15M or so. Why free?
In 2025 he was accredited with purchasing far more than that in
$RFL during the merger with
$CYTH which appeared bullish, yet, he admitted to not using his own money but, instead, using shares acquired in Cyclo Therapeutics during his “financing” of their operations which gave the appearance of bullishness.
However, let’s focus on today as that’s all we have. Other explanations for his reduced stake here could be that…
1. Google made a mistake! And he still owns 19m shares.
2. The shares weren’t sold but transferred to a private party such as a family member. This wouldn’t require a S-4.
3. The shares weren’t sold but transferred to a buyer of one of his subsidiaries. If true, we could be receiving a PR about one or more of his subsidiaries being sold for in excess of the amount transferred to them in
$RFL shares.
Wishful thinking perhaps but possible.