Company: MBIO
Filing Date: 2025-01-22
Form Type: DEF 14C
Source: 0001104659-25-005251
Chunk: 11

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-22
Form: DEF 14C
Chunk 11
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|                                      |     |              Class 
     A Common Stock 
 Beneficially Owned |     |            |   |
| Name                                 
 and Address of Beneficial Owner(1)   |     |             Number 
                 of 
         Shares and 
          Nature of 
         Beneficial 
          Ownership |     | Percentage 
         of 
      Total 
    Class A 
     Common 
      Stock |   |
| City of Hope National Medical Center |     |            845,385 |     |        100 | % |

(1) The address of City of Hope National Medical Center is 1500 East
Duarte Road, Duarte, California 91010.

|                                    |     |              Class 
  A Preferred Stock 
 Beneficially Owned |     |            |   |
| Name                               
 and Address of Beneficial Owner(1) |     |             Number 
                 of 
         Shares and 
          Nature of 
         Beneficial 
          Ownership |     | Percentage 
         of 
      Total 
    Class A 
  Preferred 
      Stock |   |
| Fortress Biotech, Inc.             |     |            250,000 |     |        100 | % |

(1) The address of Fortress Biotech Inc. is c/o Fortress Biotech,
Inc., 1111 Kane Concourse, Suite 301, Bay Harbor Islands, Florida 33154.

<div align='center'>ADDITIONAL INFORMATION</div>

We file reports with the SEC on an annual basis using Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The SEC maintains a website that contains annual, quarterly, and current reports, proxy statements, and other information that issuers (including us) file electronically with the SEC. The SEC’s website address is. You can also obtain copies of materials
we file with the SEC from our Internet website found at . Our common stock is listed on the Nasdaq Capital Market
under the symbol “MBIO.”

<div align='center'>EFFECTIVE DATE</div>

Pursuant to Rule 14c-2 under
the Exchange Act, the above action to approve the Warrant Share Issuance will not be effective until a date at least 20 days after the
date on which the definitive Information Statement has been mailed to the stockholders.

<div align='center'>HOUSEHOLDING OF STOCKHOLDER MATERIALS</div>

Some banks, brokers and other
nominee record holders may be participating in the