Rafael holdings sells its building located at 520 broad street in newark, new jersey and associated 800-car public garage
Newark, n.j., aug. 23, 2022 (globe newswire) -- rafael holdings, inc., (nyse: rfl), an early-stage novel cancer and immune metabolism therapeutics company, today announced that it has closed on the sale of the building housing its headquarters to affiliates of the sinai equity group. the building located at 520 broad street in newark, new jersey and an associated 800-car public garage sold for a total purchase price of $49.4 million. rafael holdings expects net proceeds of approximately $33 million after paying down the $15 million mortgage and the payment of commissions, legal fees, taxes, and other costs. the company previously reported cash, cash equivalents and marketable securities of $59.4 million as of april 30, 2022, which does not include the $6m raised through the sale of common stock to an entity associated with members of the family of howard jonas, the chairman of the board, on july 7, 2022 or the proceeds from the sale of the building.
RFL Ratings Summary
RFL Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission