Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 132

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 132
---
2024 Offering, as follows: (i) lower the exercise price of the Existing Warrants
to $11.85 per share, (ii) provide that the Existing Warrants, as amended, will not be exercisable until the receipt of Warrant Stockholder
Approval for the exercisability of the Warrants in the May 2024 Offering, and (iii) extend the original expiration date
of the Existing Warrants by five years following the receipt of such Warrant Stockholder Approval. The Warrant Amendment Agreement
became effective on May 2, 2024.

June 2024 Registered Direct Offering and Concurrent Private Placement of Warrants (the “June 2024 Offering”)

On June 19, 2024, we entered into a Securities
Purchase Agreement (the “June 2024 SPA”) with an institutional accredited investor, pursuant to which we agreed to issue
and sell, in a registered direct offering priced at-the-market under the rules of Nasdaq (the “Registered Direct Offering”),
(i) 60,500 shares of common stock, at a price per Share of $20.50 and (ii) pre-funded warrants (the “Pre-Funded Warrants”)
to purchase up to 62,100 shares of our common stock, at a price per Pre-Funded Warrant equal to $20.495, the price per share of common
stock, less $0.005.

The Pre-Funded Warrants were sold, in lieu of
shares of common stock, to the investor, whose purchase of shares of common stock in the Registered Direct Offering would otherwise
result in the investor, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the investor’s
option upon issuance, 9.99%) of our outstanding common stock immediately following the completion of the Registered Direct Offering. The
Pre-Funded Warrants have an exercise price of $0.005 per share, became exercisable upon issuance and remain exercisable until exercised
in full.

The Registered Direct Offering closed on June 21,
2024. We intend to use the net proceeds of approximately $2.1 million from the Registered Direct Offering for general corporate purposes
and working capital requirements.

In a concurrent private placement, pursuant to
the terms of the June 2024 SPA, we also agreed to issue and sell to the investor unregistered warrants (the “Private Placement
Warrants”) to purchase up to 122,600 shares