Company: MBIO
Filing Date: 2025-02-07
Form Type: 424B4
Source: 0001410578-25-000085
Chunk: 0

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-07
Form: 424B4
Chunk 0
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Filed Pursuant to Rule 424(b)(4)

File No. 333-284299

PROSPECTUS

<div align='center'>495,000 Shares of Common Stock

2,162,807 Pre-funded Warrants to Purchase up to 2,162,807 Shares of Common Stock

2,657,807 Series C-1 Warrants to Purchase up to 2,657,807 Shares of Common Stock

2,657,807 Series C-2 Warrants to Purchase up to 2,657,807 Shares of Common Stock

Placement Agent Warrants to Purchase up to 159,468 Shares of Common Stock

Up to 7,637,889 Shares of Common Stock Issuable Upon Exercise of

the Series C-1 Warrants, Series C-2 Warrants, Pre-funded Warrants and Placement Agent Warrants</div>

We are offering 495,000 shares of common stock, together with accompanying Series C-1 warrants (the “Series C-1 Warrants”) to purchase up to 495,000 shares of common stock, and Series C-2 warrants (the “Series C-2 Warrants” and together with the Series C-1 Warrants, the “Warrants”) to purchase up to 495,000 shares of common stock, pursuant to this prospectus. The combined public offering price for each share of common stock, together with one Series C-1 Warrant and one Series C-2 Warrant, each to purchase one share of common stock, is $3.01. The shares of common stock and Warrants will be separately issued. Each Warrant will have an exercise price of $3.01 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Warrants (“Warrant Stockholder Approval”). The Series C-1 Warrant will expire on the five-year anniversary of the Warrant Stockholder Approval. The Series C-2 Warrant will expire on the twenty-four-month anniversary of the Warrant Stockholder Approval.

We are also offering pre-funded warrants (the “pre-funded warrants”) to purchase up to 2,162,807 shares of common stock, together with accompanying Series C-1 Warrants to purchase up to 2,162,807 shares of common stock and Series C-2 Warrants to purchase up to 2,162,807 shares of common stock to those purchasers whose purchase of shares of common stock in this offering would result in the purchaser