Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 259

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 259
---
24</div>

On April 23, 2021, the Company filed a shelf registration statement No. 333-255476 on Form S-3 (the “2021 S-3”), which was declared effective on May 24, 2021. Under the 2021 S-3, the Company may sell up to a total of $ 200.0million of its securities. As of December 31, 2023, approximately $ 195.6million of the 2021 S-3 remains available for sale of securities. Stock Issuances to Fortress Under the terms of the Second Amended and Restated Founders Agreement, which became effective July 22, 2016, Fortress will receive a grant of shares of our common stock equal to two and one-half percent ( 2.5%) of the gross amount of any equity or debt financing. Additionally, pursuant to the Amended and Restated Articles of Incorporation, Fortress receives and Annual Stock Dividend on January 1 st, representing 2.5% of the fully-diluted outstanding equity of Mustang. For the year ended December 31, 2023, the Company recorded the value of 353,086shares of common stock to Fortress for the Annual Stock Dividend, as Common stock issuable – Annual Stock Dividend in the Statement of Stockholders’ Equity. The Company recorded an expense of approximately $ 0.5million in research and development – licenses acquired related to these issuable shares during the year ended December 31, 2023. For the year ended December 31, 2022, the Company recorded the value of 187,134shares of common stock to Fortress for the Annual Stock Dividend, as Common stock issuable – Annual Stock Dividend in the Statement of Stockholders’ Equity. The Company recorded an expense of approximately $ 1.1million in research and development – licenses acquired related to these issuable shares during the year ended December 31, 2022. For the year ended December 31, 2023, the Company did not issue any shares of common stock and recorded the value of 1,297shares issuable to Fortress, which equaled 2.5% of the gross proceeds of $ 0.2million from the sale of shares of common stock under Mustang’s At-the-Market Offering. In connection with the Registered Direct Offering, the Company recorded 64,706shares issuable to Fortress, which equaled 2.5%