Mustang Bio announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 2,588,236 of its shares of common stock at a purchase price of $1.70 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, Mustang has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 2,588,236 shares of its common stock. The offering is expected to close on or about October 30. H.C. Wainwright is acting as the exclusive placement agent for the offering.
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