Wrap Technologies, Inc. (NASDAQ: WRAP), a global public safety technology company, announced on [Date] the closing of its previously announced registered direct offering. The offering, which involved a fundamental institutional investor and an existing investor, consisted of 8,571,609 shares of common stock, or pre-funded warrants in lieu thereof, at a price of $1.40 per share. Gross proceeds from the offering were approximately $12 million, before deducting placement agent fees and other offering expenses.
The company intends to use the net proceeds for general corporate purposes and working capital, including future planned business expansion. This capital infusion comes at a critical time as Wrap Technologies continues to scale its operations and address the growing demand for non-lethal public safety solutions.
Wrap Technologies is known for its innovative portfolio of public safety technologies, including the BolaWrap 150, a non-lethal restraint device that deploys a multi-sensory distraction followed by a restraint mechanism, designed to reduce injuries during critical incidents. The device is used by over 1,000 agencies across the U.S. and in 60 countries, and is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
In addition to BolaWrap, the company offers Wrap Reality, an immersive VR training simulator for first responders, and WrapVision, a body-worn camera and evidence management system. WrapVision, powered by IONODES, features streamlined cloud integration and a made-in-America roadmap projected for early 2026, addressing concerns over data integrity and foreign surveillance risks.
The company also provides next-generation counter-unmanned aircraft system (C-UAS) solutions, such as PAN-DA and the 1KC Kinetic Anti-Drone Cassette, which are part of its mission to deliver safer and cost-effective technologies for public safety, defense, and critical infrastructure markets.
The closing of this offering positions Wrap Technologies to accelerate its growth initiatives and continue innovating in the public safety sector. With the increasing emphasis on de-escalation and non-lethal approaches in law enforcement, the company's technologies are poised to play a significant role in shaping the future of public safety.
Maxim Group LLC acted as sole placement agent for the offering. For more information about Wrap Technologies and its products, visit the company's newsroom at https://ibn.fm/WRAP.
