As previously disclosed, on March 4, 2022, Mustang Bio, Inc. (the "Company") entered into a $75.0 million loan and security agreement (the "Loan Agreement") with Runway Growth Finance Corp., as a lender and as administrative agent and collateral agent for Lenders ("Runway") (Filing, 8-K, Mustang Bio, DEC 7, 2022, View Source [SID1234625216]).

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On December 7, 2022, the Company entered into the First Amendment (the "First Amendment") to the Loan Agreement by and between the Company and Runway. The First Amendment amended certain definitions and other provisions of the Loan Agreement to replace LIBOR-based benchmark rates applicable to loans outstanding under the Loan Agreement with SOFR-based rates, subject to adjustments as specified in the First Amendment.

The foregoing description of the First Amendment is not intended to be complete and is qualified in its entirety by reference to the full text of the First Amendment, a copy of which is filed as Exhibit 10.1, hereto and is incorporated by reference herein.