Mustang Bio Announces $4.4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
2023年10月27日 - 1:30AM
Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a
clinical-stage biopharmaceutical company focused on translating
today’s medical breakthroughs in cell and gene therapies into
potential cures for difficult-to-treat cancers and rare genetic
diseases, today 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 (or common stock equivalents in lieu
thereof) at a purchase price of $1.70 per share (or common stock
equivalent in lieu thereof) 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, 2023, subject to the satisfaction of customary closing
conditions.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The unregistered warrants will have an exercise
price $1.58 per share, will become exercisable immediately upon
issuance and will expire five and one-half years from the date of
issuance.
The gross proceeds to Mustang from the offering
are expected to be approximately $4.4 million, before deducting the
placement agent’s fees and other offering expenses payable by the
Company. Mustang currently intends to use the net proceeds from the
offering for working capital and general corporate purposes.
The shares of common stock (or common stock
equivalents) offered in the registered direct offering (but
excluding the unregistered warrants offered in the concurrent
private placement and the shares of common stock underlying such
unregistered warrants) are being offered and sold by the Company
pursuant to a “shelf” registration statement on Form S-3
(Registration No. 333-255476), including a base prospectus,
previously filed with the Securities and Exchange Commission (SEC)
on April 23, 2021 and declared effective by the SEC on May 24,
2021. The offering of the shares of common stock (or common stock
equivalents) to be issued in the registered direct offering are
being made only by means of a prospectus supplement that forms a
part of the registration statement. A final prospectus supplement
and an accompanying base prospectus relating to the registered
direct offering will be filed with the SEC and will be available on
the SEC’s website located at http://www.sec.gov. Electronic
copies of the final prospectus supplement and accompanying base
prospectus may also be obtained, when available, by contacting H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York,
NY 10022, by phone at (212) 856-5711 or e-mail at
placements@hcwco.com.
The offer and sale of the unregistered warrants
in the private placement are being made in a transaction not
involving a public offering and have not been registered under
Section 4(a)(2) of the Securities Act of 1933, as amended (the
“Securities Act”) and/or Rule 506(b) of Regulation D promulgated
thereunder and, along with the shares of common stock underlying
such unregistered warrants, have not been registered under the
Securities Act or applicable state securities laws. Accordingly,
the unregistered warrants offered in the private placement and the
underlying shares of common stock may not be reoffered or resold in
the United States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Mustang Bio
Mustang Bio, Inc. is a clinical-stage
biopharmaceutical company focused on translating today’s medical
breakthroughs in cell and gene therapies into potential cures for
difficult-to-treat cancers and rare genetic diseases. Mustang aims
to acquire rights to these technologies by licensing or otherwise
acquiring an ownership interest, to fund research and development,
and to outlicense or bring the technologies to market. Mustang has
partnered with top medical institutions to advance the development
of CAR-T therapies across multiple cancers, as well as lentiviral
gene therapies for severe combined immunodeficiency. Mustang’s
common stock is registered under the Securities Exchange Act of
1934, as amended, and Mustang files periodic reports with the U.S.
Securities and Exchange Commission (“SEC”). Mustang was founded by
Fortress Biotech, Inc. (Nasdaq: FBIO). For more information, visit
www.mustangbio.com.
Forward‐Looking Statements
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. Such statements, which are often indicated by
terms such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “goal,” “intend,” “look forward to,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “will,” “would” and
similar expressions. The Company’s forward-looking statements,
include, but are not limited to, statements regarding the
completion of the offering, the satisfaction of customary closing
conditions related to the offering and the anticipated use of
proceeds therefrom, as well as any statements relating to our
growth strategy and product development programs, including the
timing of and our ability to make regulatory filings such as INDs
and other applications and to obtain regulatory approvals for our
product candidates, statements concerning the potential of
therapies and product candidates and any other statements that are
not historical facts. Actual events or results may differ
materially from those described in this press release due to a
number of risks and uncertainties. Risks and uncertainties include,
among other things, risks related to market and other conditions,
whether the Company’s third-party manufacturer is able to
successfully perform its obligation to produce the Company’s
products under the manufacturing services agreement on a timely
basis and to acceptable standards; disruption from the sale of the
Company’s manufacturing facility making it more difficult to
maintain business and operational relationships; negative effects
of the announcement of the consummation of the sale of the
Company’s manufacturing facility on the market price of the
Company’s common stock; significant transaction costs; the
development stage of the Company’s primary product candidates, our
ability to obtain, perform under, and maintain financing and
strategic agreements and relationships; risks relating to the
results of research and development activities; risks relating to
the timing of starting and completing clinical trials;
uncertainties relating to preclinical and clinical testing; our
dependence on third-party suppliers; our ability to attract,
integrate and retain key personnel; the early stage of products
under development; our need for substantial additional funds;
government regulation; patent and intellectual property matters;
competition; as well as other risks described in Part I, Item 1A,
“Risk Factors,” in our Annual Report on Form 10-K filed on March
30, 2023, subsequent Reports on Form 10-Q, and our other filings we
make with the SEC. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in our expectations or any changes in events, conditions or
circumstances on which any such statement is based, except as
required by law, and we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.
Company Contacts:Jaclyn Jaffe and Nicole
McCloskeyMustang Bio, Inc.(781) 652-4500ir@mustangbio.com
Media Relations Contact:Tony Plohoros6
Degrees(908) 591-2839tplohoros@6degreespr.com
Mustang Bio (NASDAQ:MBIO)
過去 株価チャート
から 5 2024 まで 6 2024
Mustang Bio (NASDAQ:MBIO)
過去 株価チャート
から 6 2023 まで 6 2024