Company: MBIO
Filing Date: 2025-02-11
Form Type: 8-K
Source: 0001104659-25-011517
Chunk: 3

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-11
Form: 8-K
Item: Item 8.01
Chunk 3
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Item 8.01.      Other Events.  

Nasdaq Continued Listing
Requirements

As
previously disclosed, the Company had been notified by the Staff of the Listing Qualifications Department (the “ Staff”) of
The Nasdaq Stock Market LLC (“ Nasdaq”) that it was not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires a
company to maintain a minimum of $2.5 million in stockholders’ equity (the “ Equity Rule”), nor did it meet the alternatives
of market value of listed securities or net income from continuing operations. Under a decision by a Nasdaq Hearings Panel (the “ Panel”),
the Company has until February 18, 2025 to demonstrate compliance with the Equity Rule.

As a result of the closing
of the Offering described above, taking into account the net proceeds thereof, the Company believes that, as of the date of this Current
Report on Form 8-K, it satisfies the Equity Rule for continued listing on the Nasdaq Capital Market. The Company is awaiting a formal
compliance determination from the Panel and will provide an update upon receipt of such determination.

Additionally, as previously
disclosed, the Company had been notified by the Staff that the Company’s closing bid price was below $1.00 per share for 30 consecutive
business days, and that, therefore, the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the “ Bid Price Rule”),
which is the minimum bid price requirement for continued listing on the Nasdaq Capital Market. Under a decision by the Panel, the Company
was provided until January 31, 2025 to satisfy the Bid Price Rule for at least 10 consecutive trading days. The Company effected a 1-for-50
reverse stock split on January 15, 2025, which was intended to bring the Company into compliance with Nasdaq’s Bid Price Rule. On
February 10, 2025, the Company was notified by the Staff that it had regained compliance with the Bid Price Rule.

Press Releases

On February 6, 2025,
the Company issued a press release announcing the pricing of the Offering, and on February 10, 2025, the Company issued a press release
announcing the closing of the Offering.

On February 11, 2025,
the Company issued a press release announcing notification from the Staff regarding the Company’s compliance with the Bid Price
Rule.

A copy of each such press