Mustang Bio, Inc 8-K, filed Apr 13, 2023
Mustang Bio, Inc. (MBIO)
About this 8-K
Mustang Bio, Inc filed this 8-K on April 13, 2023, reporting on events of April 11, 2023.
Items reported
- Item 1.02: Ended a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
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| Item 1.02. | Termination of a Material Definitive Agreement. |
On April 11, 2023, the Loan and Security Agreement, dated as of March 4, 2022, by and among Mustang Bio, Inc. (the “Company”) and Runway Growth Finance Corp., as a lender and as administrative agent and collateral agent for Lenders (“Runway”), as amended by the First Amendment, dated as of December 7, 2022 (together, the “Runway Loan Agreement”), was terminated upon receipt by Runway of a payoff amount of $30.7 million from the Company (comprising principal, interest and the applicable final payment amount); provided that the Company continues to be bound by certain indemnification obligations under Section 12.3 of the Runway Loan Agreement. The Runway Loan Agreement provided for term loans in an aggregate principal amount of up to $75.0 million to be delivered in multiple tranches, subject to the achievement of certain milestones. The payoff amount paid by the Company in connection with the termination of the Runway Loan Agreement was pursuant to a payoff letter with Runway.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Mustang Bio, Inc. | ||
| (Registrant) | ||
| Date: April 13, 2023 | ||
| By: | /s/ Eliot M. Lurier | |
| Eliot M Lurier | ||
| Interim Chief Financial Officer | ||