Company: MBIO
Filing Date: 2025-01-10
Form Type: PRE 14C
Source: 0001104659-25-002602
Chunk: 8

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-10
Form: PRE 14C
Chunk 8
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 8-K on October 25, 2024, and are incorporated herein by reference. The discussion herein is qualified in its entirety
by reference to the filed documents. We will furnish without charge to you a copy of any or all of the documents incorporated by reference,
including exhibits to these documents, upon written or oral request. Direct your written request to: Corporate Secretary, Mustang Bio,
Inc., 377 Plantation Street, Worcester, Massachusetts 01605, or (781) 652-4500.

No Appraisal Rights

Under the DGCL, stockholders
are not entitled to appraisal rights with respect to the authorization of the Warrant Share Issuance.

<div align='center'>INTEREST OF CERTAIN PERSONS IN MATTERS TO BE ACTED UPON</div>

None of our directors, executive
officers or any associate of a director or executive officer has a substantial interest, direct or indirect, by security holdings or
otherwise, in any matter described in this Information Statement.

<div align='center'>SECURITIES OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</div>

The following table shows information, as of January10, 2025, concerning the beneficial ownership of our common stock by:

| · | each person we know to be the beneficial owner of more than 5% of our common stock; |
| · | each of our current directors;                                                      |
| · | each of our Named Executive Officers (“NEOs”); and                                  |
| · | all current directors and NEOs as a group.                                          |

As of January10, 2025, there were 64,768,830 shares of our common stock, 845,385 shares of our Class A Common Stock, and 250,000
shares of our Class A Preferred Stock outstanding. In order to calculate a stockholder’s percentage of beneficial ownership, we
include in the calculation those shares underlying options or warrants beneficially owned by that stockholder that are vested or that
will vest within 60 days of January 10, 2025. Shares of restricted stock are deemed to be outstanding. Options or warrants held by other
stockholders that are not attributed to the named beneficial owner are disregarded in this calculation. Beneficial ownership is determined
in accordance with the rules of the SEC and includes voting or investment power with respect to the shares of our common stock. Unless
we have indicated otherwise, each person named in the table below has sole voting power and investment power for the shares