Company: MBIO
Filing Date: 2025-01-17
Form Type: 8-K
Source: 0001104659-25-004565
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Company: MUSTANG BIO, INC.
Filing Date: 2025-01-17
Form: 8-K
Item: Item 3.03
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Item 3.03      Material Modification to Rights of Security Holders  

On January 15, 2025, Mustang
Bio, Inc. (the “ Company”) filed a Certificate of Amendment (the “ Amendment”) to its Amended and Restated Certificate
of Incorporation, as amended, with the Secretary of State of the State of Delaware to effect a 1-for-50 reverse stock split (the “ Reverse
Stock Split”) of the Company’s shares of common stock, $0.0001 par value.

As previously disclosed in
the Company’s Definitive Information Statement on Schedule 14C filed with the Securities and Exchange Commission on July 10, 2024
(the “ Information Statement”), the Company’s stockholders approved the Reverse Stock Split within a range of between
1-for-10 and 1-for-50, with the final ratio to be determined by the board of directors of the Company (the “ Board”). On January
6, 2025, the Board selected a final ratio of 1-for-50.

As a result of the Reverse
Stock Split, every 50 shares of the Company’s pre-Reverse Stock Split common stock will be combined and reclassified as one share
of common stock. Proportionate voting rights and other rights of common stockholders will not be affected by the Reverse Stock Split,
other than as a result of the payment in lieu of issuance of fractional shares. No fractional shares will be issued in connection with
the Reverse Stock Split. Stockholders who would otherwise hold a fractional share of common stock will receive (upon surrender to the
exchange agent of certificates representing such shares), a cash payment in lieu thereof, without interest or deduction, rounded to the
nearest cent, in an amount equal to the product obtained by multiplying (a) the closing price per share of the Company’s common
stock as reported on the Nasdaq Capital Market as of the effective date of the Reverse Stock Split, by (b) the fraction of one share owned
by the stockholder.

The Reverse Stock Split became
effective on January 15, 2025, and the common stock was quoted on the Nasdaq Capital Market on a post-Reverse Stock Split basis at the
open of business on January 16, 2025. The Company’s post-Reverse Stock Split common stock has a new CUSIP number, 62818Q302, but
the par value and other terms of the common stock were not affected by the Reverse Stock Split.

The Company