Company: MBIO
Filing Date: 2025-02-07
Form Type: 424B4
Source: 0001410578-25-000085
Chunk: 256

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-07
Form: 424B4
Chunk 256
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,239.62 |
| Nonvested at December 31, 2022 |   |           3,303 | ​ | $                | 1,391.48 |
| Granted                        |   |             577 | ​ |                  |   256.51 |
| Forfeited                      | ​ |          -1,027 | ​ | ​                | 1,374.25 |
| Vested                         |   |            -942 | ​ |                  | 1,614.25 |
| Nonvested at December 31, 2023 |   |           1,911 | ​ | $                |   948.25 |

As of December 31, 2023, the Company had unrecognized stock-based compensation expense related to restricted stock units of approximately $0.5 million, which is expected to be recognized over a weighted average period of approximately 2.1 years. The following table summarizes stock-based compensation expense for the years ended December 31, 2023 and 2022 (in thousands).

| ​                                      
 ​                                      | ​ 
 ​ 
 ​ | ​                               
 For the year ended December 31, |    ​ 
 2023 | ​ | ​ |     ​ 
  2022 |
|:---------------------------------------|:--|:--------------------------------|-----:|:--|:--|------:|
| General and administrative             | ​ | $                               |  436 | ​ | $ |   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 33,364 shares of common stock, and in a concurrent private placement, the Company issued unregistered warrants to purchase up to 51,764 shares of common stock. In connection with these offerings, H.C. Wainwright received Placement Agent Warrants to purchase up to 3,104 shares of common stock.

F-26

In connection with the Term Loan on March 4, 2022, the Company issued a warrant to the Lender to purchase 997 shares of the Company’s common stock with an exercise price of $601.58, see Note 8. A summary of warrant activities for years ended December