Mustang Bio sells FF&E for $1M, terminates Worcester lease; expects ~$2M savings

MUSTANG BIO, INC.

Sold FF&E to AbbVie for $1.0M cash; lease termination expected to save ~$2.0M in lease obligations.
Lease base term (ending Oct 2026) terminated early; company to vacate 377 Plantation St within ~20 business days.
Waived lease extension options; no further rent or operating expenses after Early Termination Date.
Escrow agent holds purchase price pending inspection of FF&E condition; agreement provides for price adjustment if FF&E insufficient.

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