Explanation needed
$Mustang Bio(MBIO.US$ can anyone explain wht the latest prospectus ammended means?
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102533717 : 1. Public Float and Stock Value: As of July 3, 2024, the value of the company’s publicly traded shares (not held by company insiders) is $26,707,995. This value is based on 31,417,475 shares priced at $0.8501 each as of June 18, 2024.
2. Selling Restrictions: The company has a limit on how many shares it can sell. The limit is either:
• The amount registered on a specific form (Form S-3).
• A value that doesn’t exceed one-third of the public float (shares held by the public) within any 12-month period if the public float is less than $75,000,000.
3. Recent Sales: In the past 12 months, the company has sold $6,256,312 worth of securities under these rules.
4. Future Sales: Given these rules and the current public float, the company can sell up to $2,646,352 worth of shares through a sales agreement with Wainwright.