Company: MBIO
Filing Date: 2025-01-22
Form Type: DEF 14C
Source: 0001104659-25-005251
Chunk: 5

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-22
Form: DEF 14C
Chunk 5
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 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 Company agreed to issue Series B-1, Series B-2, and Placement Agent warrants to purchase up to an aggregate of
34,767,934 shares of the Company’s common stock.

The Investor held certain outstanding Series A-3 warrants to purchase up to an aggregate of 16,877,638 shares of the Company’s common stock, par value $0.0001 per share, originally issued to the Investor on May 2, 2024 (the “Existing Warrants”). The Existing Warrants had an exercise price of $0.237 per share. Pursuant to the Inducement Letter, the Investor agreed to exercise in full, for cash,
the Existing Warrants in consideration for the Company’s agreement to issue in a private placement (x) new Series B-1 common stock
purchase warrants (the “New Series B-1 Warrants”) to purchase up to 16,877,638 shares of common stock (the “New Series
B-1 Warrant Shares”) and (y) new Series B-2 common stock Purchase Warrants (the “New Series B-2 Warrants” and, together
with the New Series B-1 Warrants, the “New Warrants”) to purchase up to 16,877,638 shares of common stock (the “New
Series B-2 Warrant Shares”).

The closing of the transactions
contemplated pursuant to the Inducement Letter occurred on October 25, 2024 (the “Closing Date”). The Company received aggregate
gross proceeds of approximately $