secwatch.observer — SEC 8-K summary
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Issuer:     MUSTANG BIO, INC. (MBIO)
CIK:        0001680048
Form:       8-K
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0001104659-24-111500
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1680048/000110465924111500/0001104659-24-111500-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1680048/000110465924111500/tm2426843d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-111500

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer