Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 214

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 214
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 from the June 2024 Offering, after deducting the fees and expenses of the Placement Agent andother offering expenses
payable by us, but excluding the net proceeds, if any, from the exercise of the Warrants, was approximately $2.1 million. The June 2024 Offering closed on June 21, 2024.

In a concurrent private
placement, pursuant to the terms of the Purchase Agreement, the Company also agreed to issue and sell to the June 2024 Investor unregistered
warrants (the “Private Placement Warrants”) to purchase up to 122,600 shares of common stock, at an offering price of $20.50
per Private Placement Warrant to purchase one share of common stock (the “Private Placement” and, together with the Registered
Direct Offering, the “Offerings”) (which offering price was included in the purchase price per share of common stock or Pre-Funded
Warrant). The Private Placement Warrants have an exercise price of $0.41 per share (subject to customary adjustments as set forth in the
Private Placement Warrants), were exercisable upon issuance and will expire five years from the date of issuance. The Private Placement
Warrants contain customary anti-dilution adjustments to the exercise price, including for share splits, share dividends, rights offering
and pro rata distributions. The resale of the shares of common stock issuable upon the exercise of the Private Placement Warrants was
subsequently registered in July 2024 on a Form S-1 (File No. 333-280927).

Wainwright acted as the exclusive placement agent
in connection with the Offerings under an Engagement Letter, dated as of June 18, 2024, between us and Wainwright (the “Engagement
Letter”). Pursuant to the Engagement Letter, the

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Company issued to Wainwright (or its designees)
warrants to purchase up to 7,355 shares of common stock (the “Wainwright Warrants” and, together with the Private Placement
Warrants, the “2024 Warrants”). The Wainwright Warrants have substantially the same terms as the Private Placement Warrants,
except that the Wainwright Warrants will expire five years from the commencement of the sales of the Offerings and have an exercise price
of $25.625 per share (subject to customary adjustment as set forth in the Wainwright Warrants