Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 113

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 113
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 On February 7, 2025, we entered
into the First Amendment to the lease agreement, pursuant to which the lease was terminated, which became effective on February 21, 2025.

On June 14, 2022, we entered into a sublease agreement
with The Paul Revere Life Insurance Company. Pursuant to the terms of the sublease agreement, we agreed to sublease 26,503 square
feet, located at 1 Mercantile Street, Worcester, MA (the “Mercantile Street Facility”),

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Table of Contents

through January 2030. Base rent, net of abatements
of $1.2 million, totals approximately $3.4 million. On July 18, 2023, we executed, with a retroactive effective date of June 15, 2023,
a Third Amendment to the Sublease, with the Paul Revere Life Insurance Company, pursuant to which we relocated from the 26,503 square
feet of rentable space on the fourth floor of the Mercantile Street Facility to 11,916 square feet of rentable space on the second floor.
There were no modifications to the lease term. The reduction of the rentable space resulted in a decrease in the base rent and abatements.
Base rent, net of abatements of $0.2 million, totals approximately $1.6 million, for the reduced space. In June 2024, we terminated the
sublease and paid an early termination fee of $40,000.

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Item 3. Legal Proceedings

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We are not involved in any legal proceedings that
we believe could have a material adverse effect on our financial position or results of operations. There is no action, suit, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to
the knowledge of our executive officers, threatened against or affecting our company or our officers or directors in their capacities
as such.

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Item 4. Mine Safety Disclosures

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Not applicable

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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

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Market information

Our common stock is listed on the Nasdaq Capital
Market under the symbol “MBIO.”

Securities Authorized for Issuance Under Equity Compensation Plans

Information