Company: MBIO
Filing Date: 2025-02-13
Form Type: 8-K
Source: 0001104659-25-013029
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Company: MUSTANG BIO, INC.
Filing Date: 2025-02-13
Form: 8-K
Item: Item 1.01
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Item       Entry Into a Material Definitive Agreement.  

Bill
of Sale and Surrender Agreement

Effective
February 10, 2025, Mustang Bio, Inc. (the “ Company”) entered into a Bill of Sale and Surrender Agreement (the “ Sale/Surrender Agreement”), effective as of January 31, 2025 (the “ Effective Date”), with AbbVie Bioresearch Center Inc., a Delaware
corporation (“ AbbVie”). The Company is the current tenant in the leased premises located at 377 Plantation Street, Worcester,
Massachusetts (the “ Premises”) under a Lease Agreement, dated as of October 27, 2017 (the “ Lease”) with WCS -
377 Plantation Street, Inc., a Massachusetts nonprofit corporation (the “ Landlord”). Prior to the transactions described herein,
the base term (the “ Base Term”) of the Lease was scheduled to expire on October 31, 2026 (the “ Termination Date”).

Pursuant
to the terms of the Sale/Surrender Agreement, AbbVie agreed to purchase from the Company, and the Company agreed to sell and convey to AbbVie, certain
furniture, fixtures and equipment (“ FF& E”) located in the Premises and other items as set forth in the Sale/Surrender Agreement for
a purchase price of $1.0 million (the “ Purchase Price”). AbbVie also agreed to lease the Premises from the Landlord following
the termination of the Lease pursuant to a First Amendment to Lease Agreement (the “ Amendment”), dated as of February 7, 2025,
as more fully described below. On or before the tenth (10th) business day (the “ Anticipated Vacation Date”) following
the Effective Date, the Company agreed to provide notice and vacate the Premises no later than twenty (20) business days following the
Effective Date.