Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 126

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 126
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 after the execution of the NSA, with uBriGene able to eliminate some of its obligations
under the NSA if it is able to sell the equipment assets purchased back to us within 45 days after the execution of the NSA (an “Expedited
Divestment”).

June 2024 Repurchase of Assets

On June 27, 2024 (the “Effective Date”),
we entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with uBriGene, pursuant to which we agreed, subject
to the terms and conditions set forth therein, to repurchase (the “Repurchase Transaction”) the assets, properties and rights
previously transferred by the Company to uBriGene under the Prior Asset Purchase Agreement, excluding any inventory transferred under
the Purchase Agreement that has been consumed or transferred to a third party by uBriGene since the closing of the Prior Asset Purchase
Agreement (collectively, the “Repurchased Assets”). For the avoidance of doubt, “Repurchased Assets” also includes
all Mustang Assets (as such term is defined in the NSA) that were previously sold, transferred, conveyed, assigned, delivered, or contributed
by us or our affiliates to uBriGene or its affiliates, to the extent such assets have not been consumed or transferred to a third party
by uBriGene since the closing of the Prior Asset Purchase Agreement. The Repurchased Assets do not include inventory acquired by uBriGene
after the closing of the Prior Asset Purchase Agreement. We further agreed to assume all obligations, liabilities and commitments previously
transferred by us to uBriGene under the Prior Asset Purchase Agreement. The Repurchase Transaction was intended to constitute an Expedited
Divestment by uBriGene pursuant to the NSA with CFIUS.

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Table of Contents

As consideration for the Repurchase Transaction,
we agreed to pay to uBriGene a total purchase price (the “Purchase Price”) of $1,395,138, consisting of (i) an upfront
payment of $100,000 due within five (5) business days of the Effective Date and a (ii) subsequent amount of $1,295,138
due on the date that is twelve (12) months after the Closing (the “Deferred Amount”). In the event that as of the original
(or any extended) date on which the Deferred Amount is payable we have, as of the date of the public reporting