Company: MBIO
Filing Date: 2025-02-11
Form Type: 8-K
Source: 0001104659-25-011517
Chunk: 1

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-11
Form: 8-K
Item: Item 1.01
Chunk 1
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 if any, from the exercise of the Warrants, is approximately $6.9 million.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering closed
on February 10, 2025.

In connection with the
Offering, the Company entered into a securities purchase agreement (the “ Purchase Agreement”) with certain accredited investors
(the “ Investors”). Pursuant to the Purchase Agreement, the Company agreed not to issue, enter into any agreement to issue
or announce the issuance or proposed issuance of any shares of common stock or any securities convertible into or exercisable or exchangeable
for shares of common stock or file any registration statement or prospectus, or any amendment or supplement thereto for 90 days after
the closing date of the Offering, subject to certain exceptions. In addition, the Company has agreed not to effect or enter into an agreement
to effect any issuance of common stock or any securities convertible into or exercisable or exchangeable for shares of common stock involving
a variable rate transaction (as defined in the Purchase Agreement) until the one-year anniversary of the closing date of the Offering,
subject to certain exceptions.

The Purchase Agreement
contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations
of the Company and the purchasers, including for liabilities arising under the Securities Act of 1933, as amended (the “ Securities
Act”), other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the
Purchase Agreement were made only for the purposes of such agreements and as of specific dates, were solely for the benefit of the parties
to such agreements and may be subject to limitations agreed upon by the contracting parties.

A holder will not have
the right to exercise any portion of the Warrants or Pre-Funded Warrants if the holder (together with its affiliates) would beneficially
own in excess of 4.99% or 9.99%, as applicable, of the number of shares of common stock outstanding immediately after giving effect to
the exercise, as such percentage ownership is determined in accordance with the terms of the Warrants or the Pre-Funded Warrants, respectively.

Pursuant to an Engagement
Letter (the “ Engagement Letter”) with H. C. Wainwright & Co., LLC (the “ Placement Agent”), the Company agreed
to pay the Placement Agent in connection with the Offering (i) a cash fee equal to 7.0% of the