Smaio renews a U.S. surgeon and plans up to 25,000 warrants to compensate him
Smaio announced on November 6, 2026 the renewal of Dr. Tenner Guillaume's term on its scientific committee in the United States.
This surgeon is mainly compensated in share subscription warrants. The company chose this form of compensation for its consulting surgeons in order to "preserve its financial resources".
A term extended by 12 months on the same terms
An orthopedic surgeon at Gillette Children's Hospital in St. Paul, Minnesota, Dr. Tenner Guillaume was appointed to the scientific committee on October 29, 2025, for an initial term of 12 months. According to the company, he has played an active role in the work of this expert group, which now includes five North American surgeons.
He is renewed for an additional 12 months, on the same terms as the previous one. Smaio indicates that the commitment of committee members represents several dozen hours of scientific work per year, valued at hourly rates in line with market practices in the United States.
Up to 25,000 warrants granted, representing approximately 0.40% of the share capital
Meeting on October 12, 2026, the board of directors approved the principle of issuing a maximum of 25,000 warrants, called "Warrants 2026-03", fully allocated to Dr. Tenner Guillaume. It relies on the 8th resolution of the combined general meeting of June 16, 2026, with waiver of the preferential subscription right in favor of a category of persons.
The chief executive officer, to whom the board sub-delegated its powers, set the terms by decisions dated November 2, 2026. Each warrant, issued at €2.52 and payable in cash or by offsetting receivables, entitles the holder to subscribe one ordinary share for five years, at a unit price of €5.50, issue premium included.
These warrants, which are not listed and are registered, may give rise to the creation of up to 25,000 new shares, representing approximately 0.40% of the current share capital. After exercise of all the warrants, a shareholder holding 1.00% of the capital would see its stake reduced to 0.996%.
Calculated on the half-year accounts as of June 30, 2026 (shareholders' equity of €12,398,190 for 6,210,241 shares), shareholders' equity per share would rise from €2.00 to €2.02 after exercise of the warrants.
