Mustang Bio (MBIO) Prices 10.79M Share Common Offering at $3.25/Sh

Mustang Bio, Inc. (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced the pricing of its previously announced underwritten public offering. Mustang is offering 10,769,231 shares of its common stock, par value $0.0001 per share, at a price to the public of $3.25 per share. In connection with the offering, Mustang has also granted the underwriter a 30-day option to purchase up to an additional 1,615,384 shares of common stock offered in the public offering, at the same public offering price per share.

Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering.

The Company expects to receive gross proceeds from the offering, excluding the exercise of the underwriter’s option, if any, of $35.0 million, excluding underwriting discounts and commissions and other offering-related expenses. Assuming the full exercise of the underwriter’s option, gross proceeds would be $40.3 million.

Mustang intends to use the net proceeds from the offering primarily for the continued development of its product candidates, the potential in-license, acquisition, development and commercialization of other pharmaceutical products and for general corporate purposes.

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