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

Core Points - Mustang Bio, Inc. has completed a registered direct offering of 6,130,000 shares of common stock at a price of $0.41 per share, generating approximately $2.5 million in gross proceeds [1][2] - The company intends to use the net proceeds for working capital and general corporate purposes [2] - In a concurrent private placement, Mustang issued unregistered warrants to purchase an additional 6,130,000 shares at the same exercise price of $0.41 per share [1][3] Offering Details - The offering was conducted under Nasdaq rules and the shares were sold at-the-market [1] - The unregistered warrants are exercisable upon stockholder approval and will expire five years from that date [1] - H.C. Wainwright & Co. acted as the exclusive placement agent for the offering [7] Company Overview - Mustang Bio is a clinical-stage biopharmaceutical company focused on developing cell therapies for difficult-to-treat cancers [10] - The company aims to acquire rights to medical technologies through licensing or ownership, fund research and development, and bring these technologies to market [10] - Mustang has partnered with leading medical institutions to advance CAR-T therapy development [10]