Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 125

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 125
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 new 45-day review period on November 14, 2023.
CFIUS’s 45-day review ended on December 28, 2023. Since CFIUS had not concluded its review by December 28, 2023, the proceeding
transitioned to a subsequent 45-day investigation period, which ended on February 12, 2024.

Following the 45-day review period and subsequent
45-day investigation period described above, on February 12, 2024, we and uBriGene requested permission to withdraw and re-file our
joint voluntary notice to allow more time for review and discussion regarding the nature and extent of national security risk posed by
the Transaction. Upon our joint request to withdraw and re-file their joint voluntary notice to CFIUS, on February 12, 2024, CFIUS
granted this request, accepted the joint voluntary notice and commenced a new 45-day review period on February 13, 2024. CFIUS’s
new 45-day review ended on March 28, 2024. Because CFIUS had not yet concluded its action, the proceeding transitioned to a second
45-day phase as CFIUS further investigated the Transaction. On March 28, 2024, CFIUS advised us that its investigation would be completed
no later than May 13, 2024.

On May 13, 2024, together with uBriGene and
CFIUS, we executed a National Security Agreement (the “NSA”), pursuant to which we and uBriGene agreed to abandon the Transaction
and all other transactions contemplated by the Asset Purchase Agreement and the agreements entered into in connection therewith. The execution
of the NSA was the result of CFIUS’ determination that such transactions posed a risk to the national security of the United States.
We disagree with this position but did not feel a meaningful likelihood existed that the Transaction would be consummated in light of
CFIUS’ objections. The NSA imposes certain conditions on us and uBriGene and its affiliates. Most significantly, we agreed (i) not
to effect the Transaction with uBriGene or any of its affiliates; and (ii) to appoint a point of contact representative with whom
CFIUS and uBriGene’s designated contact person may interact as needed. The NSA also obligates uBriGene to sell, or otherwise dispose
of, the equipment assets purchased within 180 days