Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 262

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 262
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 700 |
| Research and development               | ​ |                                 |  132 | ​ |   | 1,583 |
| Total stock-based compensation expense | ​ | $                               |  568 | ​ | $ | 2,283 |

Stock Warrants

In connection with the Company’s Registered Direct Offering on October 26, 2023, the Company issued pre-funded warrants to purchase up to shares of common stock, and in a concurrent private placement, the Company issued unregistered warrants to purchase up to shares of common stock. In connection with these offerings, H.C. Wainwright received Placement Agent Warrants to purchase up to shares of common stock.

In connection with the Term Loan on March 4, 2022, the Company issued a warrant to the Lender to purchase shares of the Company’s common stock with an exercise price of $, see Note 8.

F-27

A summary of warrant activities for years ended December 31, 2023 and 2022, is presented below:

| ​                                   
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 ​ |         ​ 
         ​ 
         ​ 
         ​ 
  Warrants | ​ 
 ​ 
 ​ 
 ​ | ​                
 ​                
 ​                
 Weighted Average 
 Exercise Price   |      ​ 
      ​ 
      ​ | ​ 
 ​ 
 ​ 
 ​ |                    ​ 
     Weighted Average 
            Remaining 
 Contractual Life (in 
               years) |
|:------------------------------------|:--|----------:|:--|:-----------------|-------:|:--|---------------------:|
| Outstanding as of December 31, 2021 |   |   220,577 | ​ | $                | 120.30 |   |                 0.73 |
| Expired                             | ​ |  -200,251 | ​ | ​                | 127.49 | ​ |                    — |
| Granted                             |   |    49,869 | ​ |                  |  12.03 |   |                 9.18 |
| Outstanding as of December 31, 2022 |   |    70,195 | ​ | $                |  22.80 |   |                 8.29 |
| Exercised                           |   |       -93 | ​ |                  |      — |   |                    — |
| Granted                             |   | 4,411,766 | ​ |