Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 249

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 249
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 more directors by the provisions of the Certificate of Incorporation, vacancies and
newly created directorships of such class or classes or series may be filled by a majority of the directors elected by such class or classes
or series thereof then in office, or by a sole remaining director so elected.

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Amendment of the Certificate of Incorporation and Bylaws

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Our Certificate of Incorporation
provides that the Company reserves the right at any time, and from time to time, to amend, alter, change or repeal any provision contained
in our Certificate of Incorporation, and other provisions authorized by the DGCL and the laws of the State of Delaware at the time in
force may be added or inserted, in the manner now or hereafter prescribed by law; and all rights, preferences and privileges of whatsoever
nature conferred upon stockholders, directors or any other persons whomsoever by and pursuant to our Certificate of Incorporation in its
present form or as hereafter amended, are granted subject to the rights reserved in our Certificate of Incorporation.

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In furtherance and not in limitation
of the powers conferred by the laws of the State of Delaware, the Board of Directors of the Company is expressly authorized to make, alter,
and repeal the Bylaws of the Company, subject to the power of the stockholders of the Company to alter or repeal any bylaw whether adopted
by them or otherwise.

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Our Bylaws provide that the
original or other bylaws of the Company may be adopted, amended, or repealed by the stockholders entitled to vote; provided, however,
that the Company may, in our Certificate of Incorporation, confer the power to adopt, amend or repeal bylaws upon the directors. The fact
that such power has been so conferred upon the directors shall not divest the stockholders of the power, nor limit their power to adopt,
amend or repeal bylaws.

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Anti-Takeover Provisions of Delaware Law

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Our Certificate of Incorporation
provides that the Company elects not to be governed by Section 203 of the DGCL. To the fullest extent permitted by section 122(17) of
the DGCL, the Company, on behalf of itself and its subsidiaries, renounces any interest or expectancy of the Company and its subsidiaries
in any Excluded Opportunity (as defined in the Certificate of Incorporation) or in being offered an opportunity to receive notice of or
participate in any Excluded Opportunity, even if the opportunity is one that the Company or its