Mustang Bio raises $4M via warrant exercise; appoints David Jin to board

MUSTANG BIO, INC.

Investor exercised 16,877,638 existing warrants at $0.237/share for ~$4M gross proceeds, before fees.
Issued new unregistered warrants to purchase up to 33,755,276 shares at $0.27/share; exercisable after stockholder approval.
Board expanded to seven; David Jin (CFO of majority owner Fortress Biotech) appointed as director.
Net proceeds to be used for working capital and general corporate purposes.
H.C. Wainwright acted as placement agent with 7% cash fee and 1,012,658 placement agent warrants at $0.2963/share.

item 1.01 item 3.02 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

David Jin

Director

MBIO · MUSTANG BIO, INC.

Effective: 2024-10-23
Filed: October 25, 2024, 7:59 PM ET

On October 23, 2024, the Board of Directors (the “Board”) of the Company increased the number of directors on the Board from six to seven and appointed David Jin as a new member of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Jin was appointed as Director at MUSTANG BIO, INC..

Action: appointed
Role: Director

Exact text from the filing

On October 23, 2024, the Board of Directors (the “Board”) of the Company increased the number of directors on the Board from six to seven and appointed David Jin as a new member of the Board.

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MUSTANG BIO, INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-111500

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