Company: MBIO
Filing Date: 2025-01-10
Form Type: PRE 14C
Source: 0001104659-25-002602
Chunk: 4

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-10
Form: PRE 14C
Chunk 4
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 a meeting or via written consent.

Each share of Class A Preferred
Stock is entitled to the number of votes that is equal to one and one-tenth times a fraction, the numerator of which is the sum of (A)
the shares of outstanding common stock and (B) the whole shares of common stock into which the shares of outstanding Class A Common Stock
and Class A Preferred Stock are convertible and the denominator of which is the number of shares of outstanding Class A Preferred Stock.
As of the record date, there were a total of 136,151,230 votes outstanding (64,768,830 common stock votes plus 56,359 Class A Common
Stock votes plus 71,326,041 Class A Preferred Stock votes).

Pursuant to Section 228 of
the DGCL, unless otherwise provided in the certificate of incorporation, any corporate action required to be taken at a meeting of stockholders
may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action
so taken, shall be signed by stockholders having not less than the minimum number of votes that would be necessary to authorize or take
such action at a meeting at which all members having a right to vote thereon were present and voted. The Majority Holders, who held in
the aggregate the equivalent of 77,878,822 votes, or approximately 57% of the voting equity of the Company, voted in favor of the Warrant
Share Issuance by executing the Written Consent in lieu of a meeting in accordance with our Bylaws and the DGCL. The Written Consent
is sufficient under the DGCL and our Bylaws to approve and adopt the actions described in this Information Statement. Consequently, no
further stockholder action is required.

<div align='center'>ITEM I: WARRANT SHARE ISSUANCE</div>

On October 24, 2024, the Company completed an induced warrant exercise of outstanding warrants to purchase the Company’s common
stock, par value $0.0001 per share (the “Induced Warrant Exercise”), and in connection with the Induced Warrant Exercise,
entered into (i) that certain Engagement Letter, dated as of October 23, 2024, with the Placement Agent and (ii) that certain Investor
Inducement Letter, dated as of October 24, 2024 (together with the Engagement Letter, the “Agreements”), with the Investor,
pursuant to which the