Company: MBIO
Filing Date: 2025-01-10
Form Type: PRE 14C
Source: 0001104659-25-002602
Chunk: 1

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-10
Form: PRE 14C
Chunk 1
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4 (the “Inducement Letter”), with a certain institutional
investor (the “Investor”), and (B) that certain previously disclosed engagement letter, dated as of October 23, 2024 (the
“Engagement Letter’), with H.C. Wainwright & Co., LLC (the “Placement Agent”), in an amount equal to or in
excess of 20% of the number of shares of common stock outstanding immediately prior to the issuance of such warrants (collectively, the
“Warrant Share Issuance”), as described in further detail in the Information Statement.

The accompanying Information Statement is being furnished only to inform stockholders in accordance with Rule 14c-2 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of the actions taken by Written Consent described in the Information Statement before the Warrant ShareIssuance takes effect. We are also furnishing the Information Statement to our
stockholders in satisfaction of the notice requirement under Section 228 of the General Corporation Law of the State of Delaware (“DGCL”).
Because the Written Consent of the Majority Holders satisfies all applicable stockholder voting requirements, the Board is not soliciting
your proxy or consent in connection with the matters discussed above. You are urged to read the Information Statement carefully and in
its entirety for further information regarding the Warrant Share Issuance.

This Information Statement is first being mailed to you on or about ,
2025. The approval of Warrant Share Issuance will become effective on the 20 day after this definitive information statement
is mailed to our stockholders.

This is not a notice of special meeting of stockholders and no stockholder meeting will be held to consider any matter which is described herein. We are not asking you for a consent or proxy and you are requested not to send us a consent or proxy.

| ,    
 2025 | By Order of the Board of Directors,                                    |
|      | Manuel Litchman, M.D.                                                  |
|      | President, Chief Executive Officer and Interim Chief Financial Officer |

<div align='center'>MUSTANG BIO, INC.

377 Plantation Street, 1st Floor
Worcester, MA 01605

INFORMATION STATEMENT PURSUANT TO SECTION 14(C) OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED</div>

This Information Statement
(this “Information Statement”) is being mailed to the holders of record