Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 228

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 228
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 2,657,807 shares of common stock (the “Series C-1 Warrant Shares”),
and (iv) Series C-2 warrants (the “Series C-2 Warrants,” and together with the Series C-1 Warrants, the “Warrants”)
to purchase up to an aggregate of 2,657,807 shares of common stock (the “Series C-2 Warrant Shares,” and together with the
Series C-1 Warrant Shares, the “Warrant Shares”). Each Share or Pre-Funded Warrant was sold together with one Series C-1 Warrant
to purchase one share of common stock and one Series C-2 Warrant to purchase one share of common stock. The combined public offering price
for each Share and accompanying Warrants was $3.01, and the combined public offering price for each Pre-Funded Warrant and accompanying
Warrants was $3.0099. The Pre-Funded Warrants have an exercise price of $0.0001 per share, are exercisable immediately upon issuance and
will expire when exercised in full. Each Warrant has an exercise price of $3.01 per share and will be exercisable beginning on the effective
date of stockholder approval of the issuance of the Warrant Shares (the “Warrant Stockholder Approval”). The Series C-1 warrants
will expire five years from the Warrant Stockholder Approval and the Series C-2 warrants will expire twenty-four months from the Warrant
Stockholder Approval.

The net proceeds of
the Offering, after deducting the fees and expenses of the Placement Agent (as defined below), described in more detail below, and other
offering expenses payable by the Company, but excluding the net proceeds, if any, from the exercise of the Warrants, is approximately
$6.9 million. The Offering closed on February 10, 2025.

Pursuant to an Engagement
Letter (the “Engagement Letter”) with Wainwright (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 aggregate gross proceeds raised in the Offering, (ii) a management
fee equal to 1.0% of the aggregate gross proceeds raised in the Offering, (iii) up to $100,000 for fees and expenses of the Placement
Agent’s counsel and other out of pocket expenses, (iv) a non-accountable expense allowance