Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 277

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 277
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million was paid in July 2024, and as of September 30, 2024, the $ 1.3million Deferred Amount was recorded in Accrued Other Expenses (see Note 7).

<div align='center'>F-40</div>

The Company allocated the total purchase consideration of $ 4.7million to the Repurchased Assets on a relative fair value basis. The Company used a third-party to perform a valuation of the repurchased equipment, which resulted in a fair value less costs to sell of approximately $ 2.2million. The remaining purchase consideration of $ 2.5million was allocated to the supplies repurchased. The supplies repurchased with no alternative future use were recognized as research and development expense in an amount of $ 2.2million. Repurchased supplies with an alternative future use of $ 0.3million were also recognized in research and development expense, as the Company does not have plans to resume operations in the facility, and it intends to dispose of the supplies in a single transaction with the equipment. The Company concluded that the disposal group, which includes the repurchased equipment assets and associated supplies, with an aggregate value of approximately $ 2.2million met the criteria to be classified as held for sale at the date of acquisition. As of September 30, 2024, the disposal group continues to be held for sale.

Note 6 – Property, Plant and Equipment, and Asset Impairment

At September 30, 2024, and December 31, 2023, property, plant and equipment consisted of the following:

| ​                                   | ​ |                ​ | ​ |             ​ |      ​ | ​ |            ​ |      ​ |
| ​                                   |   | Estimated Useful |   | September 30, |        |   | December 31, |        |
| ($ in thousands)                    | ​ |  Life (in years) | ​ |          2024 |        | ​ |         2023 |        |
| Leasehold improvements              |   |                9 | ​ |               |  7,694 | ​ |              |  7,694 |
| Construction in process             |   |              N/A | ​ |               |      — | ​ |              |     29 |
| Total property, plant and equipment | ​ |                ​ | ​ |               |  7,694 | ​ |              |  7,723 |
| Less: impairment loss               | ​