Gain Therapeutics, Inc S-3, filed May 28, 2025

Gain Therapeutics, Inc. (GANX)

S-3 2025-05-28

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Added on October 19, 2026

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	Large accelerated filer: ☐			Accelerated filer: ☐
	Non-accelerated filer: ☒			Smaller reporting company: ☒
				Emerging growth company: ☒

	ABOUT THIS PROSPECTUS					1
	PROSPECTUS SUMMARY					2
	RISK FACTORS					5
	CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS					6
	USE OF PROCEEDS					8
	THE SECURITIES WE MAY OFFER					9
	DESCRIPTION OF CAPITAL STOCK					10
	DESCRIPTION OF WARRANTS					14
	DESCRIPTION OF DEBT SECURITIES					15
	DESCRIPTION OF SUBSCRIPTION RIGHTS					21
	DESCRIPTION OF UNITS					22
	FORMS OF SECURITIES					23
	PLAN OF DISTRIBUTION					25
	LEGAL MATTERS					29
	EXPERTS					29
	ADDITIONAL INFORMATION					30
	INCORPORATION OF CERTAIN INFORMATION BY REFERENCE					31

SEC Registration Fee	$	15,310.00(1)
FINRA fee	$	15,500
Legal Fees and Expenses		*
Accounting Fees and Expenses		*
Trustee Fees		*
Printing and Engraving		*
Miscellaneous		*
Total:	$	*

Signature	Title	Date
/s/ Gene Mack Gene Mack	Chief Executive Officer and Director (Principal Executive Officer)	May 28, 2025
/s/ Gianluca Fuggetta Gianluca Fuggetta	Senior Vice President Finance (Principal Financial and Accounting Officer)	May 28, 2025
/s/ Khalid Islam Khalid Islam	Director	May 28, 2025
/s/ Dov Goldstein Dov Goldstein	Director	May 28, 2025
/s/ Hans Peter Hasler Hans Peter Hasler	Director	May 28, 2025
/s/ Gwen Melincoff Gwen Melincoff	Director	May 28, 2025
/s/ Claude Nicaise Claude Nicaise	Director	May 28, 2025
/s/ Eric I. Richman Eric I. Richman	Director	May 28, 2025
/s/ Jeffrey Riley Jeffrey Riley	Director	May 28, 2025

Section of the Act		Section of Indenture
310(a)(1) and (2)		5.08
310(a)(3) and (4)		Inapplicable
310(b)		5.09(a), (b) and (d)
310(c)		Inapplicable
311(a)		Inapplicable
311(b)		Inapplicable
311(c)		Inapplicable
312(a)		3.05
312(b)		3.05
312(c)		4.02(c)
313(a)		5.12
313(b)(1)		5.12
313(b)(2)		5.12
313(c)		5.12
313(d)		5.12
314(a)		3.06
314(b)		Inapplicable
314(c)(1) and (2)		10.05
314(c)(3)		Inapplicable
314(d)		Inapplicable
314(e)		10.05
314(f)		Inapplicable
315(a), (c) and (d)		5.01
315(b)		4.11
315(e)		4.12
316(a)(1)		4.09
316(a)(2)		Not required
316(a) (last sentence)		6.04
316(b)		4.07
317(a)		4.02
317(b)		3.03(a) and (b)
318(a)		10.07

		Page
Article 1	DEFINITIONS	1

Section 1.01	Certain Terms Defined	1

Article 2	SECURITIES	6

Section 2.01	Forms Generally	6
Section 2.02	Form of Trustee’s Certification of Authentication	6
Section 2.03	Amount Unlimited; Issuable in Series	7
Section 2.04	Authentication and Delivery of Securities	8
Section 2.05	Execution of Securities	8
Section 2.06	Certificate of Authentication	9
Section 2.07	Denomination and Date of Securities; Payments of Interest	9
Section 2.08	Registration, Transfer and Exchange	9
Section 2.09	Mutilated, Defaced, Destroyed, Lost and Stolen Securities	11
Section 2.10	Cancellation of Securities; Destruction Thereof	11
Section 2.11	Temporary Securities	12
Section 2.12	Computation of Interest	12
Section 2.13	CUSIP Numbers	12

Article 3	COVENANTS OF THE ISSUER AND THE TRUSTEE	12

Section 3.01	Payment of Principal and Interest	12
Section 3.02	Offices for Payments, etc	13
Section 3.03	Paying Agents	13
Section 3.04	Certificate of the Issuer	13
Section 3.05	List of Securityholders	13
Section 3.06	Reports by the Issuer	14
Section 3.07	Corporate Existence	14
Section 3.08	Restrictions on Mergers, Sales and Consolidations	14
Section 3.09	Further Assurances	14

		Page
Article 4	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	14

Section 4.01	Event of Default Defined; Acceleration of Maturity; Waiver of Default	14
Section 4.02	Collection of Indebtedness by Trustee; Trustee May Prove Debt	16
Section 4.03	Application of Proceeds	17
Section 4.04	Suits for Enforcement	17
Section 4.05	Restoration of Rights on Abandonment of Proceedings	18
Section 4.06	Limitations on Suits by Securityholder	18
Section 4.07	Unconditional Right of Securityholders to Institute Certain Suits	18
Section 4.08	Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default	18
Section 4.09	Control by Securityholders	18
Section 4.10	Waiver of Past Defaults	19
Section 4.11	Trustee to Give Notice of Default, But May Withhold in Certain Circumstances	19
Section 4.12	Right of Court to Require Filing of Undertaking to Pay Costs	19

Article 5	CONCERNING THE TRUSTEE	19

Section 5.01	Duties and Responsibilities of the Trustee	19
Section 5.02	Certain Rights of the Trustee	20
Section 5.03	Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof	21
Section 5.04	Trustee and Agents May Hold Securities; Collections, etc	21
Section 5.05	Monies Held by Trustee	21
Section 5.06	Compensation and Indemnification of Trustee and Its Prior Claim	21
Section 5.07	Right of Trustee to Rely on Officers’ Certificate, etc	22
Section 5.08	Persons Eligible for Appointment as Trustee	22
Section 5.09	Resignation and Removal; Appointment of Successor Trustee	22
Section 5.10	Acceptance of Appointment by Successor	23
Section 5.11	Merger, Conversion, Consolidation or Succession to Business of Trustee	23
Section 5.12	Reports to the Trustee	23

		Page
Article 6	CONCERNING THE SECURITYHOLDERS	24

Section 6.01	Evidence of Action Taken by Securityholders	24
Section 6.02	Proof of Execution of Instruments and of Holding of Securities; Record Date	24
Section 6.03	Holders to be Treated as Owners	24
Section 6.04	Securities Owned by Issuer Deemed Not Outstanding	24
Section 6.05	Right of Revocation of Action Taken	24

Article 7	SUPPLEMENTAL INDENTURES	25

Section 7.01	Supplemental Indentures Without Consent of Securityholders	25
Section 7.02	Supplemental Indentures With Consent of Securityholders	26
Section 7.03	Effect of Supplemental Indenture	27
Section 7.04	Documents to Be Given to Trustee	27
Section 7.05	Notation on Securities in Respect of Supplemental Indentures	27

Article 8	CONSOLIDATION, MERGER, SALE OR CONVEYANCE	27

Section 8.01	Issuer May Consolidate, etc., on Certain Terms	27
Section 8.02	Successor Corporation Substituted	27

Article 9	DISCHARGE OF INDENTURE	28

Section 9.01	Defeasance Within One Year of Payment	28
Section 9.02	Defeasance	28
Section 9.03	Covenant Defeasance	29
Section 9.04	Application of Trust Money	29
Section 9.05	Repayment to Issuer	30

Article 10	MISCELLANEOUS PROVISIONS	30

Section 10.01	Incorporators, Stockholders, Officers and Directors Exempt from Individual Liability	30
Section 10.02	Provisions of Indenture for the Sole Benefit of Parties and Securityholders	30
Section 10.03	Successors and Assigns of Issuer Bound by Indenture	30
Section 10.04	Notices and Demands on Issuer, Trustee and Securityholders	30
Section 10.05	Officers’ Certificates and Opinions of Counsel; Statements to be Contained Therein	31
Section 10.06	Payments Due on Saturdays, Sundays and Holidays	31
Section 10.07	Conflict of Any Provision of Indenture with Trust Indenture Act of 1939	31
Section 10.08	New York Law to Govern	31
Section 10.09	Counterparts	31
Section 10.10	Effect of Headings	31

		Page
Article 11	REDEMPTION OF SECURITIES	32

Section 11.01	Applicability of Article	32
Section 11.02	Notice of Redemption; Partial Redemptions	32
Section 11.03	Payment of Securities Called for Redemption	33
Section 11.04	Exclusion of Certain Securities from Eligibility for Selection for Redemption	33
Section 11.05	Conversion Arrangement On Call For Redemption	33

Article 12	CONVERSION OF SECURITIES	34

Section 12.01	Applicability of Article	34
Section 12.02	Right of Securityholders to Convert Securities	34
Section 12.03	Issuance of Shares of Capital Stock on Conversion	34
Section 12.04	No Payment or Adjustment for Interest or Dividends	35
Section 12.05	Adjustment of Conversion Rate	35
Section 12.06	No Fractional Shares to Be Issued	38
Section 12.07	Preservation of Conversion Rights Upon Consolidation, Merger, Sale or Conveyance	38
Section 12.08	Notice to Security Holders of a Series Prior to Taking Certain Types of Action	38
Section 12.09	Covenant to Reserve Shares for Issuance on Conversion of Securities	38
Section 12.10	Compliance with Governmental Requirements	38
Section 12.11	Payment of Taxes Upon Certificates for Shares Issued Upon Conversion	39
Section 12.12	Trustee’s Duties with Respect to Conversion Provisions	39

	GAIN THERAPEUTICS, INC., as Issuer

	By:
	Name:
	Title:

	●, as Trustee

	By:
	Name:
	Title:

Dated:	Signed:
		(Signed exactly as name appears on the other side of this Security)

Signature Guarantee:	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

		Page
ARTICLE 1 DEFINITIONS		1

Section 1.01	Certain Terms Defined	1

ARTICLE 2 SECURITIES		6

Section 2.01	Forms Generally	6
Section 2.02	Form of Trustee’s Certification of Authentication	6
Section 2.03	Amount Unlimited; Issuable in Series	6
Section 2.04	Authentication and Delivery of Securities	7
Section 2.05	Execution of Securities	8
Section 2.06	Certificate of Authentication	8
Section 2.07	Denomination and Date of Securities; Payments of Interest	8
Section 2.08	Registration, Transfer and Exchange	8
Section 2.09	Mutilated, Defaced, Destroyed, Lost and Stolen Securities	10
Section 2.10	Cancellation of Securities; Destruction Thereof	11
Section 2.11	Temporary Securities	11
Section 2.12	Computation of Interest	11
Section 2.13	CUSIP Numbers	11

ARTICLE 3 COVENANTS OF THE ISSUER AND THE TRUSTEE		11

Section 3.01	Payment of Principal and Interest	11
Section 3.02	Offices for Payments, etc	11
Section 3.03	Paying Agents	12
Section 3.04	Certificate of the Issuer	12
Section 3.05	List of Securityholders	13
Section 3.06	Reports by the Issuer	13
Section 3.07	Corporate Existence	13
Section 3.08	Restrictions on Mergers, Sales and Consolidations	13
Section 3.09	Further Assurances	13

ARTICLE 4 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT		13

Section 4.01	Event of Default Defined; Acceleration of Maturity; Waiver of Default	13
Section 4.02	Collection of Indebtedness by Trustee; Trustee May Prove Debt	15
Section 4.03	Application of Proceeds	16
Section 4.04	Suits for Enforcement	16
Section 4.05	Restoration of Rights on Abandonment of Proceedings	17
Section 4.06	Limitations on Suits by Securityholder	17
Section 4.07	Unconditional Right of Securityholders to Institute Certain Suits	17
Section 4.08	Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default	17
Section 4.09	Control by Securityholders	17
Section 4.10	Waiver of Past Defaults	17
Section 4.11	Trustee to Give Notice of Default, But May Withhold in Certain Circumstances	18
Section 4.12	Right of Court to Require Filing of Undertaking to Pay Costs	18

		Page
ARTICLE 5 CONCERNING THE TRUSTEE		18

Section 5.01	Duties and Responsibilities of the Trustee	18
Section 5.02	Certain Rights of the Trustee	19
Section 5.03	Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof	20
Section 5.04	Trustee and Agents May Hold Securities; Collections, etc	20
Section 5.05	Monies Held by Trustee	20
Section 5.06	Compensation and Indemnification of Trustee and Its Prior Claim	20
Section 5.07	Right of Trustee to Rely on Officers’ Certificate, etc	20
Section 5.08	Persons Eligible for Appointment as Trustee	20
Section 5.09	Resignation and Removal; Appointment of Successor Trustee	21
Section 5.10	Acceptance of Appointment by Successor	21
Section 5.11	Merger, Conversion, Consolidation or Succession to Business of Trustee	22
Section 5.12	Reports to the Trustee	22

ARTICLE 6 CONCERNING THE SECURITYHOLDERS		22

Section 6.01	Evidence of Action Taken by Securityholders	22
Section 6.02	Proof of Execution of Instruments and of Holding of Securities; Record Date	22
Section 6.03	Holders to be Treated as Owners	23
Section 6.04	Securities Owned by Issuer Deemed Not Outstanding	23
Section 6.05	Right of Revocation of Action Taken	23

ARTICLE 7 SUPPLEMENTAL INDENTURES		24

Section 7.01	Supplemental Indentures Without Consent of Securityholders	24
Section 7.02	Supplemental Indentures With Consent of Securityholders	24
Section 7.03	Effect of Supplemental Indenture	25
Section 7.04	Documents to Be Given to Trustee	25
Section 7.05	Notation on Securities in Respect of Supplemental Indentures	25

ARTICLE 8 CONSOLIDATION, MERGER, SALE OR CONVEYANCE		26

Section 8.01	Issuer May Consolidate, etc	26
Section 8.02	Successor Corporation Substituted	26

		Page
ARTICLE 9 DISCHARGE OF INDENTURE		26

Section 9.01	Defeasance Within One Year of Payment	26
Section 9.02	Defeasance	27
Section 9.03	Covenant Defeasance	27
Section 9.04	Application of Trust Money	28
Section 9.05	Repayment to Issuer	28

ARTICLE 10 MISCELLANEOUS PROVISIONS		28

Section 10.01	Incorporators, Stockholders, Officers and Directors Exempt from Individual Liability	28
Section 10.02	Provisions of Indenture for the Sole Benefit of Parties and Securityholders	28
Section 10.03	Successors and Assigns of Issuer Bound by Indenture	28
Section 10.04	Notices and Demands on Issuer, Trustee and Securityholders	28
Section 10.05	Officers’ Certificates and Opinions of Counsel; Statements to be Contained Therein	29
Section 10.06	Payments Due on Saturdays, Sundays and Holidays	29
Section 10.07	Conflict of Any Provision of Indenture with Trust Indenture Act of 1939	29
Section 10.08	New York Law to Govern	30
Section 10.09	Counterparts	30
Section 10.10	Effect of Headings	30

ARTICLE 11 REDEMPTION OF SECURITIES		30

Section 11.01	Applicability of Article	30
Section 11.02	Notice of Redemption; Partial Redemptions	30
Section 11.03	Payment of Securities Called for Redemption	31
Section 11.04	Exclusion of Certain Securities from Eligibility for Selection for Redemption	31
Section 11.05	Conversion Arrangement On Call For Redemption	31

		Page
ARTICLE 12 CONVERSION OF SECURITIES		32

Section 12.01	Applicability of Article	32
Section 12.02	Right of Securityholders to Convert Securities	32
Section 12.03	Issuance of Shares of Capital Stock on Conversion	32
Section 12.04	No Payment or Adjustment for Interest or Dividends	33
Section 12.05	Adjustment of Conversion Rate	33
Section 12.06	No Fractional Shares to Be Issued	35
Section 12.07	Preservation of Conversion Rights Upon Consolidation, Merger, Sale or Conveyance	36
Section 12.08	Notice to Security Holders of a Series Prior to Taking Certain Types of Action	36
Section 12.09	Covenant to Reserve Shares for Issuance on Conversion of Securities	36
Section 12.10	Compliance with Governmental Requirements	36
Section 12.11	Payment of Taxes Upon Certificates for Shares Issued Upon Conversion	37
Section 12.12	Trustee’s Duties with Respect to Conversion Provisions	37

ARTICLE 13 SUBORDINATION OF SECURITIES		37

Section 13.01	Agreement Of Subordination	37
Section 13.02	Payments to Holders	37
Section 13.03	Subrogation Of Securities	38
Section 13.04	Authorization By Holders	39
Section 13.05	Notice to Trustee	39
Section 13.06	Trustee’s Relation to Senior Indebtedness	39
Section 13.07	No Impairment Of Subordination	40
Section 13.08	Rights Of Trustee	40

By:
	Authorized Signatory