Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 115

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 115
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, share dividend,
rights offerings and pro rata distributions. This offering closed on June 21, 2024, concurrently with a registered direct offering
with the same institutional accredited investor that was registered under the Securities Act. The gross proceeds to us from the private
placement, before deducting placement agent fees and other estimated offering expenses payable by us, were approximately $2.5 million.
H.C. Wainwright & Co., LLC (“Wainwright”) acted as the placement agent in connection with the private placement pursuant
to an engagement agreement, between us and Wainwright. Wainwright was paid a cash fee equal to 7.0% of the gross proceeds received us
in the offerings, a management fee equal to 1.0% of the gross proceeds of the offerings, $75,000 for non-accountable expenses and a clearing
fee of $15,950. In addition, under the terms of the engagement letter with Wainwright, we issued to Wainwright (or its designees) warrants
to purchase up to 7,355 shares of our common stock The warrants issued to Wainwright have substantially the same terms as the June 2024
Warrants, except that the Wainwright warrants will expire five (5) years from the commencement of the sales of the offerings and
have an exercise price of $25.625 per share (subject to customary adjustment as set forth in the Wainwright warrants). The June 2024
Warrants were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities
Act. The investor also represented that it qualified as an “accredited investor” within the meaning of Rule 501 of Regulation
D.

October 2024 Induced Warrant Exercise

On October 24, 2024, we entered into an inducement
offer letter agreement (the “Inducement Letter”) with an institutional accredited investor which held certain outstanding
(i) Series A-1 Warrants to purchase up to an aggregate of 337,552 shares of common stock, (ii) Series A-2 Warrants
to purchase up to an aggregate of 337,552 shares of common stock, and (iii) Series A-3 Warrants to purchase up to an aggregate
of 337,552 shares of common stock, originally issued to the Investor on May 2, 2024 (collectively, the “May 2024 Warrants”).
The May