Mustang Bio Announces Exercise of Warrants For $4M Gross Proceeds; Entered Into A Definitive Agreement For The Exercise Of Certain Existing Warrants To Purchase An Aggregate Of 16,877,638 Shares Of Its Common Stock Having An Exercise Price Of $0.237 Per Share
Portfolio Pulse from Benzinga Newsdesk
Mustang Bio, Inc. (NASDAQ:MBIO) has entered into a definitive agreement for the exercise of existing warrants, resulting in gross proceeds of approximately $4 million. The exercise involves 16,877,638 shares at $0.237 per share. H.C. Wainwright & Co. is the exclusive placement agent.
October 24, 2024 | 6:11 pm
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Mustang Bio has secured approximately $4 million in gross proceeds through the exercise of existing warrants, which could provide the company with additional capital for its operations and development activities.
The exercise of warrants provides Mustang Bio with $4 million in gross proceeds, which is a positive development as it enhances the company's financial position. This capital can be used to further its clinical-stage biopharmaceutical projects, potentially leading to advancements in their cell therapy treatments. The involvement of H.C. Wainwright & Co. as the placement agent adds credibility to the transaction.
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