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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
  No.&nbsp;333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></FONT></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="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="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</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; font-size: 10pt"><B>UNITED
  STATES </B></FONT></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; font-size: 10pt"><B>SECURITIES
  AND EXCHANGE COMMISSION</B></FONT></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; font-size: 10pt"><B>Washington,
  D.C. 20549 </B></FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
  S-8 </B></FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REGISTRATION
  STATEMENT </B></FONT></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; font-size: 10pt"><B><I>UNDER
  </I></B></FONT></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; font-size: 10pt"><B><I>THE
  SECURITIES ACT OF 1933</I></B></FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RAFAEL
  HOLDINGS, INC. </B></FONT></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; font-size: 10pt"><B>(Exact
  name of registrant as specified in its charter) </B></FONT></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; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>82-2296593</B></FONT></TD></TR>
    <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(State of Incorporation)</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></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; font-size: 10pt"><B>520
  Broad Street</B></FONT></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; font-size: 10pt"><B>Newark,
  New Jersey 07102</B></FONT></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; font-size: 10pt"><B>(212)
  658-1450 </B></FONT></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; font-size: 10pt"><B>(Address
  of Principal Executive Offices, Including Zip Code </B></FONT></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; font-size: 10pt"><B>and
  Telephone Number) </B></FONT></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; font-size: 10pt"><B>&nbsp;</B></FONT></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; font-size: 10pt"><B>Rafael
  Holdings, Inc. 2018 Equity Incentive Plan</B></FONT></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; font-size: 10pt"><B>(Full
  Title of the Plan) </B></FONT></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; font-size: 10pt"><B>&nbsp;</B></FONT></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; font-size: 10pt"><B>David
  Polinsky</B></FONT></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; font-size: 10pt"><B>Chief
  Financial Officer </B></FONT></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; font-size: 10pt"><B>Rafael
  Holdings, Inc.</B></FONT></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; font-size: 10pt"><B>520
  Broad Street </B></FONT></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; font-size: 10pt"><B>Newark,
  NJ 07102</B></FONT></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; font-size: 10pt"><B>(212)
  658-1450</B></FONT></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; font-size: 10pt"><B>(Name,
  Address, including Zip Code, and Telephone Number, </B></FONT></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; font-size: 10pt"><B>Including
  Area Code, of Agent for Service) </B></FONT></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; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></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; font-size: 10pt"><B><I>Copies
  to: </I></B></FONT></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; font-size: 10pt"><B>Dov
  T. Schwell, Esq. </B></FONT></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; font-size: 10pt"><B>Schwell
  Wimpfheimer &amp; Associates LLP </B></FONT></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; font-size: 10pt"><B>37
  West 39<SUP>th</SUP> Street, Suite 505</B></FONT></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; font-size: 10pt"><B>New
  York, NY 10018 </B></FONT></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; font-size: 10pt"><B>(646)
  328-0795</B></FONT></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; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; 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; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font: 10pt 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: 10pt Times New Roman, Times, Serif; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#9744;</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accelerated&nbsp;filer</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#9744;</B></FONT></TD>
      </TR>
    <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font: 10pt 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: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#9745;</B></FONT></TD>
      <TD STYLE="font: 10pt 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: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#9745;</B></FONT></TD>
      </TR>
  
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
      <TD STYLE="font: 10pt 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: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#9745;</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
      </TR>
    </TABLE>
  <P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><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;</B>&#9744;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></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; font-size: 10pt"><B>CALCULATION
  OF REGISTRATION FEE</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Title of Securities to be Registered</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B><BR> <B>to be<BR> Registered<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Proposed<BR> Maximum<BR> Offering Price<BR> Per Share</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Proposed<BR> Maximum<BR> Aggregate<BR> Offering&nbsp;Price</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount of<BR> Registration&nbsp;Fee</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
      <TD STYLE="padding-bottom: 1.5pt; width: 52%; text-indent: -12pt; padding-left: 12pt">Class B Common Stock, par value $.01 per share</TD><TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">118,409</TD><TD STYLE="width: 1%; text-align: left"><SUP>(2)</SUP></TD><TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">40.42</TD><TD STYLE="padding-bottom: 1.5pt; width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,786,092</TD><TD STYLE="width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">522.16</TD><TD STYLE="padding-bottom: 1.5pt; width: 1%; text-align: left">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom; background-color: White">
      <TD STYLE="padding-bottom: 4pt; text-indent: -12pt; padding-left: 12pt">Total</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">118,409</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">522.16 </TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
    </TABLE>
  
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. 2018 Equity Incentive Plan, as amended and restated (the &ldquo;Plan&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.</FONT></TD>
  </TR></TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
  the maximum number of shares of common stock reserved for issuance exclusively for the grant of awards (the &ldquo;Inducement Awards&rdquo;)
  granted pursuant to the Plan in compliance with New York Stock Exchange Rule 303A.08.</FONT></TD>
  </TR></TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 April 13, 2021.</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></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; font-size: 10pt"><B>PART
  I </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>General
  Instruction E Information</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
  Registration Statement is being filed for the purpose of increasing the number of securities of the same class as other securities for
  which certain Registration Statements on Form&nbsp;S-8&nbsp;relating to the same employee benefit plan are effective in order to provide
  an increase in the pool from which to grant Inducement Awards granted pursuant to the Rafael Holdings, Inc. 2018 Equity Incentive Plan,
  as amended and restated, in compliance with New York Stock Exchange Rule 303A.08. The Registrant&rsquo;s Registration Statement on Form&nbsp;S-8&nbsp;filed
  with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) (File&nbsp;No.&nbsp;333-225115),&nbsp;excluding reports that
  the Registrant filed with the Commission that were incorporated into the Form&nbsp;S-8&nbsp;Registration Statements in order to maintain
  current information about the Registrant, are hereby incorporated by reference into this Registration Statement pursuant to General Instruction
  E of Form&nbsp;S-8.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  
  <!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PART
  II </B></FONT></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; font-size: 10pt"><B>&nbsp;</B></FONT></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; font-size: 10pt"><B>INFORMATION
  REQUIRED IN THE REGISTRATION STATEMENT </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item&nbsp;3.
  Incorporation of Documents By Reference.</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  Registrant&rsquo;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020033974/f10k2020_rafaelhold.htm">Form&nbsp;10-K</A>&nbsp;for the year ended July&nbsp;&nbsp;31, 2020 filed with the Commission on October
  29, 2020;</FONT></TD>
  </TR></TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  Registrant&rsquo;s Quarterly Reports on Form&nbsp;10-Q&nbsp;for the quarters ended&nbsp;October&nbsp; 31, 2020&nbsp;and&nbsp;January&nbsp;31,
  2021 filed with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020042808/f10q1020_rafaelholding.htm">December 15, 2020</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021016103/f10q0121_rafealholdings.htm">March 17, 2021</A>, respectively;</FONT></TD>
  </TR></TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <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>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
    <TR STYLE="vertical-align: top">
      <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; width: 0.25in">&nbsp;</TD>
      <TD STYLE="padding-right: 0; padding-left: 0; width: 0.25in">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">(c)</P>
      </TD>
      <TD STYLE="text-align: justify; padding-right: 0; padding-left: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
      Registrant&rsquo;s Current Reports on Form&nbsp;8-K&nbsp;filed with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020024827/ea126292-8k_rafaelshold.htm">September 1, 2020</A>,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020033989/ea129091-8k_rafaelhold.htm">October&nbsp;29, 2020</A>,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020042267/ea131475-8k_rafaelhold.htm">December 11, 2020</A>,&nbsp;December 19, 2020,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021002659/ea133546-8k_rafaelhold.htm">January&nbsp;19, 2021</A>,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021014893/ea137453-8k_rafhold.htm">March 11, 2021</A> and&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021016086/ea137914-8k_rafaelholdings.htm">March 17, 2021</A>;
      and</FONT></TD></TR>
    </TABLE>
  <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>&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  Registrant&rsquo;s definitive proxy statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020038812/def14a1120_rafaelholdings.htm">Schedule 14A</A> filed with the SEC on November 23, 2020; and</FONT></TD>
  </TR></TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description
  of our Class B common stock set forth under Item 11 in Post-Effective Amendment No. 3 to the Registrant&rsquo;s Registration Statement
  on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390018003455/f1012g2018a3_rafaelhold.htm">Form 10</A>, filed with the SEC on March 26, 2018,&nbsp;&nbsp;and contained in <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020033974/f10k2020ex4-2_rafaelhold.htm">Exhibit 4.2</A> to our Annual Report on 10-K filed with SEC
  on October 29, 2020, 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-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item&nbsp;8.
  Exhibits. </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></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="text-align: center; border-bottom: Black 1.5pt solid; width: 9%">
      <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit No.</B></P></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Description</B></P></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: center">
      <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">* 4.1</P></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex4-1_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rafael Holdings, Inc.&rsquo;s 2018 Equity Incentive Plan, as amended and restated.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">* 5.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex5-1_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Opinion of Schwell Wimpfheimer and Associates LLP.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*&nbsp;23.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex5-1_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">* 23.2</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex23-2_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;24.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="#poa"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
  herewith</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <!-- Field: Page; Sequence: 4; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item&nbsp;9.
  Undertakings.</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  undersigned Registrant hereby undertakes:</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
  file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
  include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933;</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><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.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 79.55pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-indent: -24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  
  <!-- Field: Page; Sequence: 5; Value: 1 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
      <!-- Field: /Page -->
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="poa"></A><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SIGNATURES
  </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 April&nbsp;14, 2021.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
      <TD STYLE="padding-left: 0">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="padding-left: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RAFAEL HOLDINGS, INC.</FONT></TD></TR>
    <TR STYLE="font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="padding-left: 0; width: 60%">&nbsp;</TD>
      <TD STYLE="padding-left: 0; font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="padding-left: 0; font: 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
    <TR STYLE="font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="padding-left: 0">&nbsp;</TD>
      <TD STYLE="padding-left: 0; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD STYLE="padding-left: 0; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
      <FONT STYLE="font: 10pt Times New Roman, Times, Serif">David Polinsky</FONT></FONT></TD></TR>
    <TR STYLE="font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="padding-left: 0">&nbsp;</TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="padding-left: 0; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Polinsky</FONT></TD></TR>
    <TR STYLE="font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="padding-left: 0">&nbsp;</TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="padding-left: 0; font: 10pt Times New Roman, Times, Serif; 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: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 April 14, 2021.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></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; width: 36%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 2%; text-align: center">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 62%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Titles</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Howard S. Jonas</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer and Chairman of the Board of Directors</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Howard S. Jonas</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">David Polinsky</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Polinsky</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial Officer and Principal Accounting Officer)</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stephen Greenberg</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephen Greenberg</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rachel Jonas</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rachel Jonas</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Boris C. Pasche</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Boris C. Pasche</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Michael J. Weiss</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael J. Weiss</FONT></TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  
  <!-- Field: Page; Sequence: 6; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>EXHIBIT
  INDEX </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></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="text-align: center; border-bottom: Black 1.5pt solid; width: 9%">
      <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit No.</B></P></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 90%">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Description</B></P></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: center">
      <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">* 4.1</P></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex4-1_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rafael Holdings, Inc.&rsquo;s 2018 Equity Incentive Plan, as amended and restated.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">* 5.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex5-1_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Opinion of Schwell Wimpfheimer and Associates LLP.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*&nbsp;23.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex5-1_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">* 23.2</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea139407ex23-2_rafaelhold.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="#poa"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
  herewith</FONT></TD>
  </TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>
  
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">5</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>
  
  <!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>
  
  </BODY>
  </HTML>
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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": "333-255227", "film-number": "21826455"}, "business-address": {"street1": "520 BROAD STREET", "city": "NEWARK", "state": "NJ", "zip": "07120", "phone": "973-438-1000"}, "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. 2018 Equity Incentive Plan
  (Full
  Title of the Plan)
  David
  Polinsky
  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
  ☑
  Smaller reporting company
  ☑
  Emerging growth company
  ☑
  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
  $
  118,409
  (2)
  $
  40.42
  (3)
  $
  4,786,092
  (3)
  $
  522.16
  Total
  118,409
  $
  522.16
  (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. 2018 Equity Incentive Plan, as amended and restated (the "Plan"). 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
  the maximum number of shares of common stock reserved for issuance exclusively for the grant of awards (the "Inducement Awards")
  granted pursuant to the Plan in compliance with New York Stock Exchange Rule 303A.08.
  (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 April 13, 2021.
  PART
  I
  General
  Instruction E Information
  This
  Registration Statement is being filed for the purpose of increasing the number of securities of the same class as other securities for
  which certain Registration Statements on Form S-8 relating to the same employee benefit plan are effective in order to provide
  an increase in the pool from which to grant Inducement Awards granted pursuant to the Rafael Holdings, Inc. 2018 Equity Incentive Plan,
  as amended and restated, in compliance with New York Stock Exchange Rule 303A.08. The Registrant's Registration Statement on Form S-8 filed
  with the Securities and Exchange Commission (the "Commission") (File No. 333-225115), excluding reports that
  the Registrant filed with the Commission that were incorporated into the Form S-8 Registration Statements in order to maintain
  current information about the Registrant, are hereby incorporated by reference into this Registration Statement pursuant to General Instruction
  E of Form S-8.
  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, 2020 filed with the Commission on October
  29, 2020;
  (b)
  The
  Registrant's Quarterly Reports on Form 10-Q for the quarters ended October  31, 2020 and January 31,
  2021 filed with the Commission on
  December 15, 2020
  and
  March 17, 2021
  , respectively;
  (c)
  The
      Registrant's Current Reports on Form 8-K filed with the Commission on
  September 1, 2020
  ,
  October 29, 2020
  ,
  December 11, 2020
  , December 19, 2020,
  January 19, 2021
  ,
  March 11, 2021
  and
  March 17, 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 29, 2020, 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 8.
  Exhibits.
  Exhibit No.
  Description
  * 4.1
  Rafael Holdings, Inc.'s 2018 Equity Incentive Plan, as amended and restated.
  * 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
  2
  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.
  (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.
  3
  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 April 14, 2021.
  RAFAEL HOLDINGS, INC.
  By:
  /s/
  David Polinsky
  David Polinsky
  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 April 14, 2021.
  Signature
  Titles
  /s/ Howard S. Jonas
  Chief Executive Officer and Chairman of the Board of Directors
  Howard S. Jonas
  (Principal Executive Officer)
  /s/
  David Polinsky
  Chief Financial Officer
  David Polinsky
  (Principal Financial Officer and Principal Accounting Officer)
  /s/
  Stephen Greenberg
  Stephen Greenberg
  Director
  /s/
  Rachel Jonas
  Rachel Jonas
  Director
  /s/
  Boris C. Pasche
  Boris C. Pasche
  Director
  /s/
  Michael J. Weiss
  Michael J. Weiss
  Director
  4
  EXHIBIT
  INDEX
  Exhibit No.
  Description
  * 4.1
  Rafael Holdings, Inc.'s 2018 Equity Incentive Plan, as amended and restated.
  * 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
  5