Mustang Bio Announces $2.5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - Mustang Bio, Inc. has announced a definitive agreement for the issuance and sale of 6,130,000 shares of common stock at a price of $0.41 per share, along with unregistered warrants to purchase an equal number of shares, aimed at raising approximately $2.5 million for working capital and general corporate purposes [2][5]. Group 1: Offering Details - The gross proceeds from the offering are expected to be approximately $2.5 million before deducting fees and expenses [2]. - The offering includes a registered direct offering and a concurrent private placement of unregistered warrants [5]. - The unregistered warrants will have an exercise price of $0.41 per share and will expire five years from the date of stockholder approval [6]. Group 2: Regulatory Information - The unregistered warrants and underlying shares have not been registered under the Securities Act and may not be resold in the U.S. without an effective registration statement or applicable exemption [3]. - The shares offered in the registered direct offering are being made under a "shelf" registration statement previously filed with the SEC [7]. Group 3: Company Overview - Mustang Bio is a clinical-stage biopharmaceutical company focused on developing cell therapies for difficult-to-treat cancers [9]. - The company aims to acquire rights to medical technologies, fund research and development, and partner with leading medical institutions to advance CAR-T therapies [9].