Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 230

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 230
---
million after the closing and (ii) obtains consent of the landlord to the proposed lease transfer within two yearsof the closing date. As contemplated by the Asset Purchase Agreement, the Company entered into a Manufacturing Services Agreement, where the Company contracted uBriGene to manufacture its lead product candidates, including MB-106, and it committed to spend at least $8.0 million over a period of two years after the closing of the transaction to purchase manufacturing and related services from uBriGene. On October 26, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with a single institutional accredited investor (the “Investor”) pursuant to which the Company agreed to issue and sell, in a registered direct offering priced at-the-market under the rules of The Nasdaq Stock Market (the “Registered Offering”), (i) 920,000shares of common stock, $ 0.0001par value per share, at a price per Share of $ 1.70and (ii) pre-funded warrants (the “Pre-funded Warrants”) to purchase up to 1,668,236shares of its common stock, at a price per Pre-funded Warrant equal to $ 1.699, the price per Share, less $ 0.001. The Pre-funded Warrants have an exercise price of $ 0.001per share, became exercisable upon issuance and remain exercisable until exercised in full. In a concurrent private placement, pursuant to the terms of the Purchase Agreement, the Company also agreed to issue and sell unregistered warrants (the “Warrants”) to purchase up to 2,588,236shares of Common Stock, at an offering price of $ 0.125per Warrant to purchase one share of common stock (the “Private Placement” and, together with the Registered Offering, the “Offerings”) (which offering price is included in the purchase price per Share or Pre-funded warrant). The Warrants have an exercise price of $ 1.58per share (subject to customary adjustments as set forth in the Warrants), are exercisable upon issuance and will expire fiveand one-half years from the date of issuance. The Warrants contain customary anti-dilution adjustments to the exercise price, including for share splits, share dividends, rights offering and pro rata distributions. The Registered Offering and Private Placement closed on October 30, 2023. The Company received approximately $ 4.4million in gross proceeds from the Offerings, before deduct