Company: MBIO
Filing Date: 2025-04-04
Form Type: POS AM
Source: 0001104659-25-032236
Chunk: 19

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-04
Form: POS AM
Chunk 19
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 institutional accredited investor which held certain outstanding
(i) Series A-1 Warrants to purchase up to an aggregate of 337,552 shares of common stock, (ii) Series A-2 Warrants
to purchase up to an aggregate of 337,552 shares of common stock, and (iii) Series A-3 Warrants to purchase up to an aggregate
of 337,552 shares of common stock, originally issued to the Investor on May 2, 2024 (collectively, the “May 2024 Warrants”).
The May 2024 Warrants had an exercise price of $11.85 per share. Pursuant to the Inducement Letter, the Investor agreed to exercise
in full, for cash, the Series A-3 Warrants (the “Existing Warrants”) at the exercise price of $11.85 per share in consideration
for our agreement to issue in a private placement (x) new Series B-1 Warrants to purchase337,552
shares of common stock and (y) new Series B-2 Warrants to purchase337,552 shares of
common stock (collectively, the “New Warrants”). In addition, we issued to Wainwright or its designees placement agent warrants
to purchase 20,251 shares of common stock. The placement agent warrants have the same terms as the
Series B-1 Warrants, except that the placement agent warrants have an exercise price equal to $14.815 per share. The transactions
contemplated by the Inducement Letter closed on October 25, 2024. We received aggregate gross proceeds of approximately $4 million
from the exercise of the Existing Warrants by the investor, before deducting placement agent fees and other expenses payable by us. The
New Warrants were offered and sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities
Act. The investor also represented that it qualified as an “accredited investor” within the meaning of Rule 501 of Regulation
D.

Item 16. Exhibits and financial statement schedules.

| (a) | Exhibits. |

The exhibits listed below are filed as part of
this registration statement.

The exhibits to the Registration Statement are
listed in the Exhibit Index attached hereto and incorporated by reference herein.

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| Exhibit No. |     | Description                                                                                                                                                                                                                                                                                                                                                                                                  |     | Form   |     | File      
 Number    |     |