Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 258

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 258
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 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 7,061 shares 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 $ 0.5 million 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 3,742 shares 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 $ 1.1 million 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 25 shares issuable to Fortress, which equaled 2.5% of the gross proceeds of $ 0.2 million 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 1,294 shares issuable to Fortress, which equaled 2.5 % of the gross proceeds of $ 4.4 million. For the year ended December 31, 2022, the Company issued 259 shares of common stock to Fortress at a weighted average price of $ 634.49 per share, the value of