Mustang Bio Announces Pricing of $8 Million Public Offering

Core Viewpoint - Mustang Bio, Inc. has announced a public offering of 2,657,807 shares of common stock and associated warrants at a price of $3.01 per share, aiming to raise approximately $8 million for working capital and corporate purposes [1][2]. Group 1: Offering Details - The public offering includes Series C-1 and Series C-2 warrants, each allowing the purchase of up to 2,657,807 shares at an exercise price of $3.01 [1]. - The Series C-1 warrants will expire five years from stockholder approval, while the Series C-2 warrants will expire twenty-four months from the same approval [1]. - The closing of the offering is expected around February 7, 2025, pending customary closing conditions [1]. Group 2: Financial Aspects - The gross proceeds from the offering are anticipated to be approximately $8 million before deducting fees and expenses [2]. - The net proceeds will be utilized for working capital and general corporate purposes [2]. Group 3: Company Overview - Mustang Bio, Inc. is a clinical-stage biopharmaceutical company focused on developing cell therapies for difficult-to-treat cancers [5]. - The company aims to acquire rights to innovative technologies through licensing or ownership, funding research and development, and bringing these technologies to market [5]. - Mustang has established partnerships with leading medical institutions to advance CAR-T therapy development [5].