Mustang Bio Expects $2.5 Million Gross Proceeds From Registered Direct Offering, Private Placement

MT Newswires Live06-20

Mustang Bio (MBIO) said Thursday that it expects to raise $2.5 million in gross proceeds through a registered direct offering and concurrent private placement.

The company said it has agreed to sell 6.13 million shares in a registered direct offering at $0.41 per share and offer up to an equal number of shares in a private placement at the same price.

The offering is slated to be completed by Friday, with the net proceeds going toward working capital and general corporate purposes, Mustang Bio said.

Shares of the company were down more than 38% in recent Thursday premarket activity.

Price: 0.5510, Change: -0.30, Percent Change: -35.18

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