The interest-only period may be extended to 36 months contingent upon Mustang's achieving certain milestones. In connection with the debt financing, Mustang issued Runway warrants to purchase up to 748,036 of its common shares at an exercise price of $0.8021 per share. Proceeds from the facility will be used to support the ongoing clinical development of key investigational product candidates within Mustang's pipeline and for general working capital purposes. Cantor Fitzgerald served as sole placement agent to Mustang in conjunction with this transaction. 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 hematologic cancers, solid tumors 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.