06:03 AM EDT, 04/30/2024 (MT Newswires) -- Mustang Bio ( MBIO ) said Monday it has priced a public offering of about 16.9 million common shares along with series A-1, A-2 and A-3 warrants to purchase three separate tranches of up to about 16.9 million shares at $0.237 per share and accompanying warrants.

The warrants will have an exercise price of $0.237 per share and will be exercisable on the effective date of stockholder approval of the issuance of the shares.

The series A-1 warrants will expire five years from the date of stockholder approval, the Series A-2 warrants will expire 24 months from the date of stockholder approval, and the Series A-3 warrants will expire nine months from the date of stockholder approval.

The closing of the offering is expected to occur around Thursday subject to customary closing conditions.

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