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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
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  <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">&nbsp;</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>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR>
      <TD STYLE="width: 49%">&nbsp;</TD>
      <TD STYLE="width: 2%">&nbsp;</TD>
      <TD STYLE="width: 49%">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><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 </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>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. 2018 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>David Polinsky</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="text-align: left; font: 10pt Times New Roman, Times, Serif; 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>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR>
      <TD STYLE="width: 3%">&nbsp;</TD>
      <TD STYLE="width: 17%">&nbsp;</TD>
      <TD STYLE="width: 50%">&nbsp;</TD>
      <TD STYLE="width: 24%">&nbsp;</TD>
      <TD STYLE="width: 2%">&nbsp;</TD>
      <TD STYLE="width: 4%">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt"><B>Large&nbsp;accelerated&nbsp;filer</B></FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt"><B>&uml;</B></FONT></TD>
      <TD><FONT STYLE="font-size: 10pt"><B>Accelerated&nbsp;filer</B></FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
      <TD STYLE="padding-left: 0.1in">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt"><B>Non-accelerated filer</B></FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&thorn;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt"><B>Smaller&nbsp;reporting&nbsp;company</B></FONT></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&thorn;</FONT></TD>
      <TD STYLE="padding-left: 0.1in">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="padding-left: 0.1in">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="padding-left: 0.1in">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="padding-left: 0.1in"><B>&nbsp;</B></TD>
      <TD COLSPAN="2"><B> </B></TD>
      <TD><B>Emerging&nbsp;growth&nbsp;company</B></TD>
      <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&thorn;</FONT></TD>
      <TD STYLE="padding-left: 0.1in"><B>&nbsp;</B></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;</B><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
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  <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>CALCULATION OF REGISTRATION FEE </B></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>&nbsp;</TD><TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
    <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="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="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="width: 52%; text-indent: -12pt; padding-left: 12pt">Class B Common Stock, par value $.01 per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">908,497</TD><TD STYLE="width: 1%; text-align: left">(2)</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">44.44</TD><TD STYLE="width: 1%; text-align: left">(3)</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">40,373,607</TD><TD STYLE="width: 1%; text-align: left">(3)</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,405</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom; background-color: White">
      <TD STYLE="text-indent: -12pt; padding-left: 12pt">Total</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">908,497</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,405</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom; background-color: White">
      <TD STYLE="text-indent: -12pt; padding-left: 12pt">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
    </TABLE>
  
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  <TD STYLE="width: 0.25in">(1)</TD><TD>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;).</TD></TR><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                 </TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0.25in">(2)</TD><TD>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.</TD></TR><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
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  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
  <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 May 25, 2021.</TD></TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>General Instruction E Information</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">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.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>
  
  
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  <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>PART II </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; text-align: center">&nbsp;</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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
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    <TR>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">The Registrant&rsquo;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020033974/f10k2020_rafaelhold.htm" STYLE="-sec-extract: exhibit">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">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
    <TR>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">The Registrant&rsquo;s Quarterly Reports on Form&nbsp;10-Q&nbsp;for
      the quarters ended&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020042808/f10q1020_rafaelholding.htm" STYLE="-sec-extract: exhibit">October&nbsp; 31, 2020</A>&nbsp;and&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021016103/f10q0121_rafealholdings.htm" STYLE="-sec-extract: exhibit">January&nbsp;31, 2021</A> filed with the Commission on December 15, 2020
      and March 17, 2021, respectively;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
    <TR>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="vertical-align: top; width: 5%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
      <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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/1713863/000121390020024721/ea126284-8k_rafaelholdings.htm" STYLE="-sec-extract: exhibit">September
                                      1, 2020</A>,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020033989/ea129091-8k_rafaelhold.htm" STYLE="-sec-extract: exhibit">October&nbsp;29, 2020</A>,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020042267/ea131475-8k_rafaelhold.htm" STYLE="-sec-extract: exhibit">December 11, 2020</A>,&nbsp;December 19, 2020,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021002659/ea133546-8k_rafaelhold.htm" STYLE="-sec-extract: exhibit">January&nbsp;19, 2021</A>,&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021014893/ea137453-8k_rafhold.htm" STYLE="-sec-extract: exhibit">March 11, 2021</A> and&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390021016086/ea137914-8k_rafaelholdings.htm" STYLE="-sec-extract: exhibit">March 17, 2021</A>; and</P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  </TABLE>
  
  <P STYLE="margin: 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
    <TR>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="vertical-align: top; width: 5%">(d)</TD>
      <TD STYLE="vertical-align: top">The Registrant&rsquo;s definitive proxy statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1713863/000121390020038812/def14a1120_rafaelholdings.htm" STYLE="-sec-extract: exhibit">Schedule 14A</A> filed with the SEC on November 23, 2020; and</TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
    <TR>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font-size: 10pt">(e)</FONT></TD>
      <TD STYLE="vertical-align: top"><FONT STYLE="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" STYLE="-sec-extract: exhibit">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" STYLE="-sec-extract: exhibit">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">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">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: 24.5pt">&nbsp;</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">&nbsp;</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="vertical-align: bottom">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; white-space: nowrap; width: 10%"><B>Exhibit&nbsp;No.</B> &nbsp;</TD>
  <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; width: 89%"><B>Description</B> &nbsp;</TD></TR>
  <TR>
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap">* 4.1</TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex4-1_rafaelhold.htm">Rafael Holdings, Inc.&rsquo;s 2018 Equity Incentive Plan, as amended and restated.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
  <TD STYLE="text-align: left; white-space: nowrap">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">* 5.1</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex5-1_rafaelhold.htm">Legal Opinion of Schwell Wimpfheimer and Associates LLP.</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">*&nbsp;23.1</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex5-1_rafaelhold.htm">Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">*23.2</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex23-2_rafaelhold.htm">Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_001">Power of Attorney (included in the Signature Pages to this Registration Statement).</A></FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0"></TD><TD STYLE="width: 24.45pt">*</TD><TD>Filed herewith</TD></TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;9. Undertakings.</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 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: 24.45pt"></TD><TD STYLE="width: 24.5pt">(a)</TD><TD>The undersigned Registrant hereby undertakes:</TD></TR><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                               </TABLE>
  
  <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: 55.05pt"></TD><TD STYLE="width: 24.5pt">(1)</TD><TD>To file, during any period in which offers or sales are being made,
                                              a post-effective amendment to this Registration Statement:</TD></TR><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                  </TABLE>
  
  <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: 79.5pt"></TD><TD STYLE="width: 24.5pt">(i)</TD><TD>To include any prospectus required by Section&nbsp;10(a)(3) of the
                                              Securities Act of 1933;</TD></TR><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                               </TABLE>
  
  <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: 79.5pt"></TD><TD STYLE="width: 24.5pt">(ii)</TD><TD>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><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                      </TABLE>
  
  <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: 79.5pt"></TD><TD STYLE="width: 24.5pt">(iii)</TD><TD>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><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                          </TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 79.55pt"><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>
  
  <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: 55.05pt"></TD><TD STYLE="width: 24.5pt">(2)</TD><TD>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><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                  </TABLE>
  
  <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: 55.05pt"></TD><TD STYLE="width: 24.5pt">(3)</TD><TD>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><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                                      </TABLE>
  
  <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: 24.45pt"></TD><TD STYLE="width: 24.5pt">(b)</TD><TD>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><TR STYLE="vertical-align: top">
  <TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                     </TABLE>
  
  <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: 24.45pt"></TD><TD STYLE="width: 24.5pt">(c)</TD><TD>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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-indent: -24.5pt">&nbsp;</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">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <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><A NAME="a_001"></A>SIGNATURES </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-indent: 24.5pt">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 May 26, 2021.</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>&nbsp;</TD>
      <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">RAFAEL HOLDINGS, INC.</FONT></TD></TR>
    <TR>
      <TD STYLE="width: 60%">&nbsp;</TD>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="width: 36%">&nbsp;</TD></TR>
    <TR>
      <TD>&nbsp;</TD>
      <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom">/s/ <FONT STYLE="font-size: 10pt">David Polinsky</FONT></TD></TR>
    <TR>
      <TD>&nbsp;</TD>
      <TD STYLE="vertical-align: top; padding-left: 0.1in">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">David Polinsky</FONT></TD></TR>
    <TR>
      <TD>&nbsp;</TD>
      <TD STYLE="vertical-align: top; padding-left: 0.1in">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom; padding-bottom: 0.75pt"><FONT STYLE="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">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">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: 24.5pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">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 May 26, 2021.</P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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; width: 40%; 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%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 58%; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">/s/ <FONT STYLE="font-size: 10pt">Howard
      S. Jonas</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">/s/ <FONT STYLE="font-size: 10pt">Ameet
      Mallik</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
      Executive 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">Ameet Mallik</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">/s/ <FONT STYLE="font-size: 10pt">David
      Polinsky</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; 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><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"></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">/s/ <FONT STYLE="font-size: 10pt">Stephen
      Greenberg</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</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">Stephen Greenberg</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">/s/ <FONT STYLE="font-size: 10pt">Rachel
      Jonas</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</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">Rachel Jonas</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">/s/ <FONT STYLE="font-size: 10pt">Boris
      C. Pasche</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</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">Boris C. Pasche</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">/s/ <FONT STYLE="font-size: 10pt">Michael
      J. Weiss</FONT></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</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">Michael J. Weiss</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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">&nbsp;</P>
  
  
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  <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>
  
  <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="vertical-align: bottom">
  <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; white-space: nowrap; width: 10%"><B>Exhibit&nbsp;No.</B> &nbsp;</TD>
  <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1.5pt solid; width: 89%"><B>Description</B> &nbsp;</TD></TR>
  <TR>
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap">* 4.1</TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex4-1_rafaelhold.htm">Rafael Holdings, Inc.&rsquo;s 2018 Equity Incentive Plan, as amended and restated.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
  <TD STYLE="text-align: left; white-space: nowrap">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">* 5.1</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex5-1_rafaelhold.htm">Legal Opinion of Schwell Wimpfheimer and Associates LLP.</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">*&nbsp;23.1</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex5-1_rafaelhold.htm">Consent of Schwell Wimpfheimer and Associates LLP (included in Exhibit 5.1 hereto).</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">*23.2</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="ea141658ex23-2_rafaelhold.htm">Consent of CohnReznick LLP, Independent Registered Public Accounting Firm.</A></FONT></TD></TR>
  <TR STYLE="background-color: White">
  <TD STYLE="text-align: left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
  <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_001">Power of Attorney (included in the Signature Pages to this Registration Statement).</A></FONT></TD></TR>
  </TABLE>
  
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  <TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt">*</TD><TD>Filed herewith</TD></TR></TABLE>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">II-4</P>
  
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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
  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
  908,497
  (2)
  $
  44.44
  (3)
  $
  40,373,607
  (3)
  $
  4,405
  Total
  908,497
  $
  4,405
  (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").
  (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 May 25, 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
  II-
  1
  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.
  II-
  2
  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 May 26, 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 May 26, 2021.
  Signature
  Titles
  /s/
  Howard
      S. Jonas
  Chairman
      of the Board of Directors
  Howard S. Jonas
  /s/
  Ameet
      Mallik
  Chief
      Executive Officer
  Ameet Mallik
  (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
  II-
  3
  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
  II-4