content: <HTML>
  <HEAD>
       <TITLE></TITLE>
  </HEAD>
  <BODY STYLE="font: 10pt Times New Roman, Times, Serif">
  
  <P STYLE="margin: 0; text-align: right"><B>Registration No.&nbsp;333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="margin: 0; text-align: right"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>UNDER</I></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>THE SECURITIES ACT OF 1933</I></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RAFAEL HOLDINGS, INC. </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified in its
  charter)</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 2%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><FONT STYLE="font-size: 10pt"><B>82-2296593</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(State of Incorporation)</B></FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer Identification No.)</B></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>520 Broad Street</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newark, New Jersey 07102</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 658-1450 </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of Principal Executive Offices, Including
  Zip Code and Telephone Number)</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Rafael Holdings, Inc. 2021 Equity Incentive
  Plan</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Full Title of the Plan) </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Patrick Fabbio</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chief Financial Officer </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Rafael Holdings, Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>520 Broad Street </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Newark, NJ 07102</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 658-1450</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name, Address, including Zip Code, and Telephone
  Number, </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Including Area Code, of Agent for Service) </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Copies to: </I></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dov T. Schwell, Esq. </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schwell Wimpfheimer &amp; Associates LLP </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>37 West 39<SUP>th</SUP> Street, Suite 505</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10018 </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(646) 328-0795</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0"><B>Indicate by check mark whether the registrant is a large accelerated
  filer, an accelerated filer, a non-accelerated filer or a small reporting company. See definitions of &ldquo;large accelerated filer,&rdquo;
  &ldquo;accelerated filer&rdquo; and &ldquo;small reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 0.1in; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Large&nbsp;accelerated&nbsp;filer</B></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#9744;</B></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 24%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accelerated&nbsp;filer</B></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 0.1in; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-accelerated
      filer</B></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&thorn;</FONT></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Smaller&nbsp;reporting&nbsp;company</B></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 0.1in">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Emerging&nbsp;growth&nbsp;company</B></FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 0.1in">&nbsp;</TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>If an emerging growth company, indicate
  by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
  accounting standards provided pursuant to Section&nbsp;7(a)(2)(B) of the Securities Act.&nbsp;&nbsp;&#9744;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></B></P>
  
  <!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Title of Securities to be Registered</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>to be<BR> Registered<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Proposed<BR> Maximum<BR> Offering<BR>
   Price<BR> Per Share</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Proposed<BR> Maximum<BR> Aggregate<BR> Offering<BR>
  Price</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount of<BR> Registration<BR>
  Fee</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 52%; text-indent: -12pt; padding-left: 12pt">Class B Common Stock, par value $.01 per share</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">1,919,025</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><SUP>(2)</SUP></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">4.78</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">9,179,940</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">851</TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
      <TD STYLE="font-family: Times New Roman, Times, Serif; text-indent: -12pt; padding-left: 12pt">Total&#9;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">1,919,025</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right">851</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
    </TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
  <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0pt"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in">(1)</TD><TD STYLE="font-family: Times New Roman, Times, Serif">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the number of shares being
  registered shall be adjusted to include such additional indeterminate number of shares as may be issuable pursuant to the anti-dilution
  provisions of the Rafael Holdings, Inc. 2021 Equity Incentive Plan (the &ldquo;SOP&rdquo;). In addition, pursuant to Rule 416(c) under
  the Securities Act, this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the
  employee benefit plans described herein.</TD></TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Represents shares of Class B Common Stock reserved for issuance pursuant to the SOP.</TD></TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities Act,
  and based upon the average of the high and low reported prices of the shares of the Class B Common Stock of the Registrant (&ldquo;Class
  B Common Stock&rdquo;) on the New York Stock Exchange on January 18, 2022.</TD></TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>
  
  
  <!-- Field: Page; Sequence: 2 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PART I </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECTION 10(a) PROSPECTUS</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The documents containing the
  information specified in Part I of Form S-8 will be sent or given to participants in the Rafael Holdings, Inc. 2021 Equity Incentive Plan
  (the &ldquo;SOP&rdquo;) as specified by Rule 428(b)(1). Such documents need not be filed with the Commission, either as part of this Registration
  Statement or as prospectuses or prospectus supplements pursuant to Rule 424 (&sect;230.424). These documents and the documents incorporated
  by reference in the registration statement pursuant to Item&nbsp;3 of Part II of this Form, taken together, constitute a prospectus that
  meets the requirements of Section&nbsp;10(a) of the Securities Act. See Rule 428(a)(1) (&sect;230.428(a)(1)).</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  
  <!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PART II</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;3. Incorporation of Documents By Reference.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents filed with the Securities
  and Exchange Commission (the &ldquo;Commission&rdquo;) by the Registrant, pursuant to the Securities Exchange Act of 1934, as amended
  (the &ldquo;Exchange Act&rdquo;), are incorporated by reference in this Registration Statement:</P>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">The Registrant&rsquo;s Annual
  Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021053306/f10k2021_rafaelhold.htm">Form&nbsp;10-K</A>&nbsp;for
  the year ended July&nbsp;31, 2021 filed with the Commission on October 18, 2021;</FONT></TD>
  </TR></TABLE>
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">The Registrant&rsquo;s Quarterly
  Reports on Form&nbsp;10-Q&nbsp;for the quarter ended&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021065478/f10q1021_rafaelholdings.htm">October
  31, 2021</A>&nbsp;filed with the Commission on December 15, 2021;</FONT></TD>
  </TR></TABLE>
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: left">The Registrant&rsquo;s Current Reports on Form&nbsp;8-K&nbsp;filed
  with the Commission on <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021041226/ea145505-8k_rafaelholdings.htm">August
  10, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021044594/ea146296-8k_rafaelhold.htm">August 24, 2021</A>,
  <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021047884/ea147371-8k_rafaelhold.htm">September 14, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021049682/ea147893-8k_rafaelhold.htm">September
  24, 2021</A>,&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021051456/ea148377-8k_rafael.htm">October&nbsp;5,
  2021</A>,&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021053294/ea148987-8k_rafaelhold.htm">October 18, 2021</A>,
  <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021054953/ea149509-8k_rafaelhold.htm">October 28, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021061000/ea151164-8k_rafaelhold.htm">November
  22, 2021</A>,&nbsp;and <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021065476/ea152394-8k_rafaelhold.htm">December
  15, 2021</A>; and</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: left">The Registrant&rsquo;s definitive proxy statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390020038812/def14a1120_rafaelholdings.htm">Schedule
  14A</A> filed with the SEC on November 23, 2020; and</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Description of our Class B common
  stock set forth &nbsp;under Item 11 in Post-Effective Amendment No. 3 to the Registrant&rsquo;s Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390018003455/f1012g2018a3_rafaelhold.htm">Form
  10</A>, filed with the SEC on March 26, 2018, and contained in <A HREF="https://www.sec.gov/Archives/edgar/data/1713863/000121390021053306/f10k2021ex4-2_rafaelhold.htm">Exhibit
  4.2</A> to our Annual Report on 10-K filed with SEC on October 18, 2021, including any amendment or report filed for the purpose of updating
  such information.</FONT></TD>
  </TR></TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">All documents subsequently filed by the Registrant
  pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates
  that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
  by reference herein and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated
  or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement
  to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated or deemed to be
  incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed,
  except as so modified or superseded, to constitute a part of this Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><B>Item&nbsp;4. Description
  of Securities.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;5.&nbsp;Interests of Named Experts and Counsel.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Certain legal matters with respect to the Class B Common Stock have been passed on by the law firm of Schwell Wimpfheimer and Associates
  LLP (the &ldquo;Firm&rdquo;). Certain partners of the Firm are the beneficial owner of an aggregate of 11,249 shares of Class B Common
  Stock, consisting of (a) 2,000 unvested restricted shares Class B Common Stock, and (b) 9,249 shares of Class B Common Stock.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;6.&nbsp;Indemnification of Directors and
  Officers.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The Registrant&rsquo;s Certificate
  of Incorporation provides that, no director shall be personally liable to the Corporation or any of its stockholders for monetary damages
  for any breach of fiduciary duty as a director, except for liability (i) for breach of the director&rsquo;s duty of loyalty to the Corporation
  or its stockholders, (ii)&nbsp;for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
  of law, (iii) pursuant to Section 174 of the DGCL or (iv) for any transaction from which the director derived an improper personal benefit&nbsp;&nbsp;and
  that&nbsp;any alteration, amendment or repeal of this section by the stockholders of the Corporation shall not adversely affect any right
  or protection of a director of the Corporation existing at the time of such alteration, amendment or repeal with respect to acts or omissions
  occurring prior to such alteration, amendment or repeal.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The Registrant&rsquo;s By-Laws provide that the Registrant shall indemnify
  and hold harmless, to the fullest extent permitted by the DGCL, any person against expenses (including attorney&rsquo;s fees), judgments,
  fines and amounts paid in settlement, actually and reasonably incurred in connection with any threatened, pending or completed legal proceedings
  in which such person is involved by reason of the fact that he is or was a director, officer, employee or agent of the Registrant (or
  serving in any such capacity with another business organization at the request of the Registrant); provided, however, that except as to
  actions to enforce indemnification rights, the Registrant shall indemnify such person seeking indemnification in connection with a proceeding
  (or part thereof) initiated by such person only if the proceeding (or part thereof) was authorized by the Board of Directors of the Registrant.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <!-- Field: Page; Sequence: 4; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;7.&nbsp;Exemption from Registration Claimed.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;8. Exhibits.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: center; width: 8%"><B>Exhibit&nbsp;No.</B>&nbsp;</TD>
      <TD STYLE="width: 2%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0pt; text-align: left; text-indent: 0pt; width: 90%; vertical-align: bottom"><B>Description</B>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;&nbsp;&nbsp;4.1</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021061756/def14a1121_rafaelholdingsinc.htm">Rafael Holdings, Inc.&rsquo;s 2021 Equity Incentive Plan (incorporated by reference to Exhibit A of the Registrant&rsquo;s Definitive Proxy Statement, filed with the Commission on November 24, 2021).</A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt">*&nbsp;4.2</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="ea154153ex4-2_rafaelhold.htm">Form of Option Agreement</A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt">*&nbsp;4.3</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="ea154153ex4-3_rafaelhold.htm">Form of Restricted Stock Agreement</A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;&nbsp;5.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex5-1_rafaelhold.htm">Legal Opinion of Schwell Wimpfheimer and Associates LLP.</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;23.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex5-1_rafaelhold.htm">Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;23.2</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex23-2_rafaelhold.htm">Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="padding: 0pt; text-indent: 0pt">&nbsp;&nbsp;&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">24.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#poa"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Power of Attorney (included in the Signature Pages to this Registration Statement).</FONT></A></TD></TR>
    </TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left">*
  Filed herewith</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;9. Undertakings.</B></P>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: left">The undersigned Registrant hereby undertakes:</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">To file, during any period in which offers or sales are being
  made, a post-effective amendment to this Registration Statement:</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(i)</TD><TD STYLE="text-align: left">To include any prospectus required by Section&nbsp;10(a)(3)
  of the Securities Act of 1933;</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(ii)</TD><TD STYLE="text-align: left">To reflect in the prospectus any facts or events arising
  after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in
  the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing,
  any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which
  was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus
  filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent
  no more than a 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo;
  table in the effective Registration Statement; and</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: left">To include any material information with respect to the plan
  of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration
  Statement.</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-left: 0in; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><U>provided</U>, <U>however</U>, that paragraphs (a)(1)(i)
  and (a)(1)(ii) will not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
  in periodic reports filed with or furnished to the Securities Exchange Commission by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d)
  of the Exchange Act of 1934 that are incorporated by reference in the Registration Statement.</P>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>
  
  <!-- Field: Page; Sequence: 5; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 79.55pt">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">That, for the purpose of determining any liability under the
  Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
  offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">To remove from registration by means of a post-effective amendment
  any of the securities being registered which remain unsold at the termination of the offering.</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: left">The undersigned Registrant hereby undertakes that, for purposes
  of determining any liability under the Securities Act of 1933, each filing of the Registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)
  or Section&nbsp;15(d) of the Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report
  pursuant to Section&nbsp;15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement
  shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at
  that time shall be deemed to be the initial bona fide offering thereof.</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: left">Insofar as indemnification for liabilities arising under
  the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
  provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification
  is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
  against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
  person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
  person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
  settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
  public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</TD>
  </TR></TABLE>
  
  <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-indent: -24.5pt">&nbsp;</P>
  
  
  <!-- Field: Page; Sequence: 6; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="poa"></A>SIGNATURES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
  Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
  filing on Form S-8 and has duly caused this Form S-8 Registration Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in the City of Newark, State of New Jersey, on January 19, 2022.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RAFAEL HOLDINGS, INC.</FONT></TD></TR>
    <TR>
      <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      <FONT STYLE="font-size: 10pt">Patrick Fabbio</FONT></FONT></TD></TR>
    <TR>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patrick Fabbio</FONT></TD></TR>
    <TR>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; padding-left: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer
      </FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned directors and officers hereby
  constitute and appoint Joyce Mason, with full power to act and with full power of substitution and resubstitution, our true and lawful
  attorney-in-fact with full power to execute in our name in the capacities indicated any and all amendments (including post-effective amendments)
  to this Registration Statement and to sign any and all additional registration statements relating to the same offering of securities
  as this Form S-8 that are filed pursuant to the requirements of the Securities Act of 1933, and to file the same, with all exhibits thereto
  and other documents in connection therewith, with the Securities and Exchange Commission and hereby ratify and confirm that all such attorneys-in
  fact, or either of them, or their substitutes shall lawfully do or cause to be done by virtue thereof.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
  Act of 1933, as amended, this Form S-8 Registration Statement has been signed by the following persons in the capacities indicated as
  of January 19, 2022.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; white-space: nowrap; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Signature</B></FONT></P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 58%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Titles</B>&nbsp;</FONT></P></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Howard S. Jonas</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
      and Chairman of the Board</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="padding: 0pt; font-family: Times New Roman, Times, Serif; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Howard
      S. Jonas</FONT></P></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding: 0pt; font-family: Times New Roman, Times, Serif; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="padding: 0pt; font-family: Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding: 0pt; font-family: Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Ameet Mallik</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
      Executive Officer</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="padding: 0pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ameet
      Mallik</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding: 0pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Principal
      Executive Officer)</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Patrick Fabbio</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
      Financial Officer</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Patrick
      Fabbio</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Principal
      Financial Officer and Principal Accounting Officer)</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Stephen Greenberg</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stephen
      Greenberg</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Rachel Jonas</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rachel
      Jonas</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Shannon Klinger</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shannon
      Klinger</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Mark McCamish</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mark
      McCamish</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
      Boris C. Pasche</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Boris
      C. Pasche</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt">/s/ Michael
      J. Weiss</TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="font-family: Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Michael
      J. Weiss</FONT></TD>
      <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    </TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  
  <!-- Field: Page; Sequence: 7; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; width: 8%"><B>Exhibit&nbsp;No.</B></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 2%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; width: 90%; vertical-align: bottom"><B>Description</B></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt">&nbsp;&nbsp;&nbsp;4.1</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021061756/def14a1121_rafaelholdingsinc.htm">Rafael Holdings, Inc.&rsquo;s 2021 Equity Incentive Plan (incorporated by reference to Exhibit A of the Registrant&rsquo;s Definitive Proxy Statement, filed with the Commission on November 24, 2021).</A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt">*&nbsp;4.2</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><A HREF="ea154153ex4-2_rafaelhold.htm">Form of Option Agreement</A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;4.3</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex4-3_rafaelhold.htm">Form of Restricted Stock Agreement</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;5.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex5-1_rafaelhold.htm">Legal Opinion of Schwell Wimpfheimer and Associates LLP.</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;23.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex5-1_rafaelhold.htm">Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*&nbsp;23.2</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ea154153ex23-2_rafaelhold.htm">Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;24.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; font-size: 10pt"><A HREF="#poa"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Power of Attorney (included in the Signature Pages to this Registration Statement).</FONT></A></TD></TR>
    </TABLE>
  
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left">*
  Filed herewith</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
  
  
  <!-- Field: Page; Sequence: 8; Options: Last -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>
  
  </BODY>
  </HTML>
metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "ea154153-s8_rafaelhold.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 78510}]
metadata_filer: {"company-data": {"conformed-name": "Rafael Holdings, Inc.", "cik": "0001713863", "assigned-sic": "6500", "irs-number": "822296593", "state-of-incorporation": "DE", "fiscal-year-end": "0731"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-262243", "film-number": "22539260"}, "business-address": {"street1": "520 BROAD STREET", "city": "NEWARK", "state": "NJ", "zip": "07120", "phone": "212-658-1450"}, "mail-address": {"street1": "520 BROAD STREET", "city": "NEWARK", "state": "NJ", "zip": "07120"}}
text: Registration No. 333-
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  RAFAEL HOLDINGS, INC.
  (Exact name of registrant as specified in its
  charter)
  Delaware
  82-2296593
  (State of Incorporation)
  (I.R.S. Employer Identification No.)
  520 Broad Street
  Newark, New Jersey 07102
  (212) 658-1450
  (Address of Principal Executive Offices, Including
  Zip Code and Telephone Number)
  Rafael Holdings, Inc. 2021 Equity Incentive
  Plan
  (Full Title of the Plan)
  Patrick Fabbio
  Chief Financial Officer
  Rafael Holdings, Inc.
  520 Broad Street
  Newark, NJ 07102
  (212) 658-1450
  (Name, Address, including Zip Code, and Telephone
  Number,
  Including Area Code, of Agent for Service)
  Copies to:
  Dov T. Schwell, Esq.
  Schwell Wimpfheimer & Associates LLP
  37 West 39
  th
  Street, Suite 505
  New York, NY 10018
  (646) 328-0795
  Indicate by check mark whether the registrant is a large accelerated
  filer, an accelerated filer, a non-accelerated filer or a small reporting company. See definitions of "large accelerated filer,"
  "accelerated filer" and "small reporting company" in Rule 12b-2 of the Exchange Act.
  Large accelerated filer
  ☐
  Accelerated filer
  ☐
  Non-accelerated
      filer
  þ
  Smaller reporting company
  þ
  Emerging growth company
  þ
  If an emerging growth company, indicate
  by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
  accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.  ☐
  CALCULATION OF REGISTRATION FEE
  Title of Securities to be Registered
  Amount
  to be
  Registered
  (1)
  Proposed
  Maximum
  Offering
  Price
  Per Share
  Proposed
  Maximum
  Aggregate
  Offering
  Price
  Amount of
  Registration
  Fee
  Class B Common Stock, par value $.01 per share
  1,919,025
  (2)
  $
  4.78
  (3)
  $
  9,179,940
  (3)
  $
  851
  Total
  1,919,025
  $
  851
  (1)
  Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), the number of shares being
  registered shall be adjusted to include such additional indeterminate number of shares as may be issuable pursuant to the anti-dilution
  provisions of the Rafael Holdings, Inc. 2021 Equity Incentive Plan (the "SOP"). In addition, pursuant to Rule 416(c) under
  the Securities Act, this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the
  employee benefit plans described herein.
  (2)
  Represents shares of Class B Common Stock reserved for issuance pursuant to the SOP.
  (3)
  Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities Act,
  and based upon the average of the high and low reported prices of the shares of the Class B Common Stock of the Registrant ("Class
  B Common Stock") on the New York Stock Exchange on January 18, 2022.
  PART I
  SECTION 10(a) PROSPECTUS
  The documents containing the
  information specified in Part I of Form S-8 will be sent or given to participants in the Rafael Holdings, Inc. 2021 Equity Incentive Plan
  (the "SOP") as specified by Rule 428(b)(1). Such documents need not be filed with the Commission, either as part of this Registration
  Statement or as prospectuses or prospectus supplements pursuant to Rule 424 (§230.424). These documents and the documents incorporated
  by reference in the registration statement pursuant to Item 3 of Part II of this Form, taken together, constitute a prospectus that
  meets the requirements of Section 10(a) of the Securities Act. See Rule 428(a)(1) (§230.428(a)(1)).
  1
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents By Reference.
  The following documents filed with the Securities
  and Exchange Commission (the "Commission") by the Registrant, pursuant to the Securities Exchange Act of 1934, as amended
  (the "Exchange Act"), are incorporated by reference in this Registration Statement:
  (a)
  The Registrant's Annual
  Report on
  Form 10-K
  for
  the year ended July 31, 2021 filed with the Commission on October 18, 2021;
  (b)
  The Registrant's Quarterly
  Reports on Form 10-Q for the quarter ended
  October
  31, 2021
  filed with the Commission on December 15, 2021;
  (c)
  The Registrant's Current Reports on Form 8-K filed
  with the Commission on
  August
  10, 2021
  ,
  August 24, 2021
  ,
  September 14, 2021
  ,
  September
  24, 2021
  ,
  October 5,
  2021
  ,
  October 18, 2021
  ,
  October 28, 2021
  ,
  November
  22, 2021
  , and
  December
  15, 2021
  ; and
  (d)
  The Registrant's definitive proxy statement on
  Schedule
  14A
  filed with the SEC on November 23, 2020; and
  (e)
  Description of our Class B common
  stock set forth  under Item 11 in Post-Effective Amendment No. 3 to the Registrant's Registration Statement on
  Form
  10
  , filed with the SEC on March 26, 2018, and contained in
  Exhibit
  4.2
  to our Annual Report on 10-K filed with SEC on October 18, 2021, including any amendment or report filed for the purpose of updating
  such information.
  All documents subsequently filed by the Registrant
  pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates
  that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
  by reference herein and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated
  or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement
  to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated or deemed to be
  incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed,
  except as so modified or superseded, to constitute a part of this Registration Statement.
  Item 4. Description
  of Securities.
  Not applicable.
  Item 5. Interests of Named Experts and Counsel.
  Certain legal matters with respect to the Class B Common Stock have been passed on by the law firm of Schwell Wimpfheimer and Associates
  LLP (the "Firm"). Certain partners of the Firm are the beneficial owner of an aggregate of 11,249 shares of Class B Common
  Stock, consisting of (a) 2,000 unvested restricted shares Class B Common Stock, and (b) 9,249 shares of Class B Common Stock.
  Item 6. Indemnification of Directors and
  Officers.
  The Registrant's Certificate
  of Incorporation provides that, no director shall be personally liable to the Corporation or any of its stockholders for monetary damages
  for any breach of fiduciary duty as a director, except for liability (i) for breach of the director's duty of loyalty to the Corporation
  or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
  of law, (iii) pursuant to Section 174 of the DGCL or (iv) for any transaction from which the director derived an improper personal benefit  and
  that any alteration, amendment or repeal of this section by the stockholders of the Corporation shall not adversely affect any right
  or protection of a director of the Corporation existing at the time of such alteration, amendment or repeal with respect to acts or omissions
  occurring prior to such alteration, amendment or repeal.
  The Registrant's By-Laws provide that the Registrant shall indemnify
  and hold harmless, to the fullest extent permitted by the DGCL, any person against expenses (including attorney's fees), judgments,
  fines and amounts paid in settlement, actually and reasonably incurred in connection with any threatened, pending or completed legal proceedings
  in which such person is involved by reason of the fact that he is or was a director, officer, employee or agent of the Registrant (or
  serving in any such capacity with another business organization at the request of the Registrant); provided, however, that except as to
  actions to enforce indemnification rights, the Registrant shall indemnify such person seeking indemnification in connection with a proceeding
  (or part thereof) initiated by such person only if the proceeding (or part thereof) was authorized by the Board of Directors of the Registrant.
  2
  Item 7. Exemption from Registration Claimed.
  Not applicable.
  Item 8. Exhibits.
  Exhibit No.
  Description
  4.1
  Rafael Holdings, Inc.'s 2021 Equity Incentive Plan (incorporated by reference to Exhibit A of the Registrant's Definitive Proxy Statement, filed with the Commission on November 24, 2021).
  * 4.2
  Form of Option Agreement
  * 4.3
  Form of Restricted Stock Agreement
  *  5.1
  Legal Opinion of Schwell Wimpfheimer and Associates LLP.
  * 23.1
  Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).
  * 23.2
  Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.
  24.1
  Power of Attorney (included in the Signature Pages to this Registration Statement).
  *
  Filed herewith
  Item 9. Undertakings.
  (a)
  The undersigned Registrant hereby undertakes:
  (1)
  To file, during any period in which offers or sales are being
  made, a post-effective amendment to this Registration Statement:
  (i)
  To include any prospectus required by Section 10(a)(3)
  of the Securities Act of 1933;
  (ii)
  To reflect in the prospectus any facts or events arising
  after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in
  the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing,
  any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which
  was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus
  filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent
  no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee"
  table in the effective Registration Statement; and
  (iii)
  To include any material information with respect to the plan
  of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration
  Statement.
  provided
  ,
  however
  , that paragraphs (a)(1)(i)
  and (a)(1)(ii) will not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
  in periodic reports filed with or furnished to the Securities Exchange Commission by the Registrant pursuant to Section 13 or Section 15(d)
  of the Exchange Act of 1934 that are incorporated by reference in the Registration Statement.
  3
  (2)
  That, for the purpose of determining any liability under the
  Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
  offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  (3)
  To remove from registration by means of a post-effective amendment
  any of the securities being registered which remain unsold at the termination of the offering.
  (b)
  The undersigned Registrant hereby undertakes that, for purposes
  of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a)
  or Section 15(d) of the Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report
  pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement
  shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at
  that time shall be deemed to be the initial bona fide offering thereof.
  (c)
  Insofar as indemnification for liabilities arising under
  the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
  provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification
  is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
  against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
  person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
  person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
  settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
  public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
  4
  SIGNATURES
  Pursuant to the requirements of the Securities
  Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
  filing on Form S-8 and has duly caused this Form S-8 Registration Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in the City of Newark, State of New Jersey, on January 19, 2022.
  RAFAEL HOLDINGS, INC.
  By:
  /s/
  Patrick Fabbio
  Patrick Fabbio
  Chief Financial Officer
  The undersigned directors and officers hereby
  constitute and appoint Joyce Mason, with full power to act and with full power of substitution and resubstitution, our true and lawful
  attorney-in-fact with full power to execute in our name in the capacities indicated any and all amendments (including post-effective amendments)
  to this Registration Statement and to sign any and all additional registration statements relating to the same offering of securities
  as this Form S-8 that are filed pursuant to the requirements of the Securities Act of 1933, and to file the same, with all exhibits thereto
  and other documents in connection therewith, with the Securities and Exchange Commission and hereby ratify and confirm that all such attorneys-in
  fact, or either of them, or their substitutes shall lawfully do or cause to be done by virtue thereof.
  Pursuant to the requirements of the Securities
  Act of 1933, as amended, this Form S-8 Registration Statement has been signed by the following persons in the capacities indicated as
  of January 19, 2022.
  Signature
  Titles
  /s/
      Howard S. Jonas
  Director
      and Chairman of the Board
  Howard
      S. Jonas
  /s/
      Ameet Mallik
  Chief
      Executive Officer
  Ameet
      Mallik
  (Principal
      Executive Officer)
  /s/
      Patrick Fabbio
  Chief
      Financial Officer
  Patrick
      Fabbio
  (Principal
      Financial Officer and Principal Accounting Officer)
  /s/
      Stephen Greenberg
  Stephen
      Greenberg
  Director
  /s/
      Rachel Jonas
  Director
  Rachel
      Jonas
  /s/
      Shannon Klinger
  Director
  Shannon
      Klinger
  /s/
      Mark McCamish
  Director
  Mark
      McCamish
  /s/
      Boris C. Pasche
  Director
  Boris
      C. Pasche
  /s/ Michael
      J. Weiss
  Director
  Michael
      J. Weiss
  5
  EXHIBIT INDEX
  Exhibit No.
  Description
  4.1
  Rafael Holdings, Inc.'s 2021 Equity Incentive Plan (incorporated by reference to Exhibit A of the Registrant's Definitive Proxy Statement, filed with the Commission on November 24, 2021).
  * 4.2
  Form of Option Agreement
  * 4.3
  Form of Restricted Stock Agreement
  * 5.1
  Legal Opinion of Schwell Wimpfheimer and Associates LLP.
  * 23.1
  Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).
  * 23.2
  Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.
  24.1
  Power of Attorney (included in the Signature Pages to this Registration Statement).
  *
  Filed herewith
  6