Mustang Bio repurchases previously sold assets for $1.4M; shareholders approve reverse split and warrant share issuance

MUSTANG BIO, INC.

Company to repurchase assets from uBriGene for $1,395,138; $100K upfront, $1,295,138 deferred for 12 months with possible extensions.
Shareholders approved issuance of up to 60,731,608 shares underlying warrants, representing over 20% of outstanding common stock.
Shareholders also authorized a reverse stock split between 1-for-10 and 1-for-50, with Board to determine exact ratio.
Repurchase is an Expedited Divestment under CFIUS National Security Agreement signed May 13, 2024, reversing the prior sale.
Company may defer deferred payment if net assets fall below $20M; unpaid amounts accrue 5% interest after 12 months.

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