Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 281

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 281
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-Funded Warrant was sold together with oneSeries A-1 Warrant to purchase oneshare of common stock, oneSeries A-2 Warrant to purchase oneshare of common stock, and oneSeries A-3 Warrant to purchase oneshare of common stock. The public offering price for each share of common stock and accompanying Warrants was $ 11.85, and the public offering price for each May 2024 Pre-Funded Warrant and accompanying Warrants was $ 11.845. The May 2024 Pre-Funded Warrants have an exercise price of $ 0.005per share, were exercisable immediately and will expire when exercised in full. Each Warrant has an exercise price of $ 11.85per share, will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Warrants (the “Warrant Stockholder Approval”). The Series A-1 Warrant will expire on the five-yearanniversary of the Warrant Stockholder Approval. The Series A-2 Warrant will expire on the twenty-four-monthanniversary of the Warrant Stockholder Approval. The Series A-3 Warrant will expire on the nine-monthanniversary of the Warrant Stockholder Approval. The Warrants contain customary anti-dilution adjustments to the exercise price, including for share splits, share dividends, rights offering and pro rata distributions.

F-42

The net proceeds of the May 2024 Offering, after deducting the fees and expenses of the Placement Agent (as defined below), described in more detail below, and other offering expenses payable by us, but excluding the net proceeds, if any, from the exercise of the Warrants, was approximately $ 3.2million. The May 2024 Offering closed on May 2, 2024. In connection with the May 2024 Offering, the Company also entered into a warrant amendment agreement (the “Warrant Amendment Agreement”) with the Investor. Under the Warrant Amendment Agreement, the Company agreed to amend certain existing warrants to purchase up to 51,764 shares of common stock that were previously issued in October 2023 to the Investor, with an exercise price of $ 79.00 per share (the “Existing Warrants”), in consideration for their purchase of the securities in the May 2024 Offering, as follows: (i) lower the exercise price of the Existing Warrants to $ 11.85 per share, (ii) provide