Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 144

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 144
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Registration Statements

On April 23, 2021, the Company filed a shelf registration
statement on Form S-3 (File No. 333-255476) (the “2021 S-3”), which was declared effective on May 24, 2021. Under the 2021
S-3, the Company was able to sell up to a total of $200.0 million of its securities. The 2021 S-3 expired on May 24, 2024. The Company
sold approximately $4.4 million of securities under the 2021 S-3.

On May 31, 2024, the Company filed a shelf registration
statement on Form S-3 (File No. 333-279891) (the “2024 S-3”), which was declared effective on June 12, 2024. Under the 2024
S-3, the Company may sell up to a total of $40.0 million of its securities. As of December 31, 2024, approximately $34.8 million of the
2024 S-3 remains available for sales of securities.

As of the filing of this Form 10-K, the Company
is subject to the General Instruction I.B.6 to Form S-3, known as the “baby shelf rules,” which limit the number of securities
it can sell under its registration statements on Form S-3.

Equity Offerings

During the year ended December 31, 2024, we completed equity offerings, including the May 2024 Offering and the June 2024 Offering,and
in February 2025, we completed the February 2025 Offering (together, the “Equity Offerings”), as described above in “Management’s Discussion and Analysis of the Results of Operations – Financing Activities.”
Net proceeds from the Equity Offerings were approximately $12.2 million. We intend to use the net proceeds from the Equity Offering for
working capital and general corporate purposes.

In connection with the May 2024 Offering and June
2024 Offering, pursuant to the Founders Agreement, we issued 11,503 shares of common stock to Fortress.

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Induced Warrant Exercise

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In October 2024, we
entered into an inducement offer letter agreement, as described above in “Management’s Discussion and Analysis of the Results
of Operations – Financing Activities.” Net proceeds to us