Company: MBIO
Filing Date: 2025-04-04
Form Type: POS AM
Source: 0001104659-25-032236
Chunk: 12

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-04
Form: POS AM
Chunk 12
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 share of Class A Preferred Stock shall be increased or decreased, as applicable, in proportion to such increase
or decrease in the aggregate number of shares of common stock outstanding. Additionally, if any reorganization, recapitalization, reclassification,
consolidation or merger involving the Company occurs in which the common stock (but not the Class A Preferred Stock) is converted
into or exchanged for securities, cash or other property, then each share of Class A Preferred Stock becomes convertible into the
kind and amount of securities, cash or other property which a holder of the number of shares of our common stock issuable upon conversion
of one share of the Class A Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation
or merger would have been entitled to receive pursuant to such transaction.

Additional Features

Other features of our capital stock include:

| · | Dividend Rights. The holders of outstanding shares of our common stock, including Class A                                                  
 common stock, are entitled to receive dividends out of funds legally available at the times and in the amounts that our Board of Directors 
 may determine. All dividends are non-cumulative.                                                                                           |

| · | Voting Rights. The holders of our common stock are entitled to one vote for each share of common                                         
 stock held on all matters submitted to a vote of the stockholders, including the election of directors. Our certificate of incorporation 
 and bylaws do not provide for cumulative voting rights.                                                                                  |

| · | No Preemptive or Similar Rights. The holders of our common stock have no preemptive, conversion,               
 or subscription rights, and there are no redemption or sinking fund provisions applicable to our common stock. |

| · | Right to Receive Liquidation Distributions. Upon our liquidation, dissolution, or winding-up, the                                             
 assets legally available for distribution to our stockholders would be distributable ratably among the holders of our common stock, including 
 Class A common stock, outstanding at that time after payment of other claims of creditors, if any.                                            |

| · | Fully Paid and Non-Assessable. All of the outstanding shares of our common stock, including Class A 
 common stock, and the Class A Preferred Stock are duly issued, fully paid and non-assessable.       |

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PLAN OF DISTRIBUTION AND DETERMINATION OF OFFERING PRICE</div>

We will deliver shares of our common stock offered
hereby upon the exercise of the Warrants we issued in connection with our