Mustang Bio closes $8M public offering, regains Nasdaq minimum bid compliance

MUSTANG BIO, INC.

Priced $8M offering of 2.66M shares (or equivalents) and Series C-1/C-2 warrants at $3.01 per unit; closed Feb 10, 2025.
Net proceeds ~$6.9M; warrants exercisable upon stockholder approval at $3.01/share.
Received Nasdaq notice of compliance with Bid Price Rule (minimum bid $1.00) after 1-for-50 reverse stock split on Jan 15.
Company believes it now meets Nasdaq equity rule ($2.5M minimum) following offering; awaiting formal determination.

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