Company: MBIO
Filing Date: 2025-04-04
Form Type: POS AM
Source: 0001104659-25-032236
Chunk: 21

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-04
Form: POS AM
Chunk 21
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 February 5, 2025 |     |  107 |     |   |

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# | Portions of this Exhibit have been omitted pursuant to Item 601(b)(1)(iv) of Regulation S-K. |
| † | Management contract or compensatory plan. |

Item 17. Undertakings.

The undersigned registrant hereby undertakes to:

| (1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this 
 registration statement:                                                                                |

| (i) | To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; |

| (ii) | To reflect in the prospectus any facts or events arising after the effective date of the registration                                       
 statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change     
 in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities 
 offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or      
 high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the U.S. Securities and Exchange     
 Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent                
 change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration       
 statement; and                                                                                                                              |

| (iii) | To include any material information with respect to the plan of distribution not previously disclosed   
 in the registration statement or any material change to such information in the registration statement; |

provided, however, that paragraphs (1)(i), (1)(ii) and (1)(iii) above do not apply if the information required to be included
in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission
by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated
by reference in the registration statement.

| (2) | That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective                                
 amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities 
 at that time shall be deemed to be