Wrap Technologies, Inc. (NASDAQ: WRAP), a global public safety technology company, has announced the closing of its registered direct offering, which generated gross proceeds of approximately $12 million. The offering involved the sale of 8,571,609 shares of common stock, or pre-funded warrants in lieu thereof, at a price of $1.40 per share. The transaction was conducted with a fundamental institutional investor and an existing investor, with Maxim Group LLC serving as the sole placement agent.
The company intends to utilize 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 portfolio of innovative public safety solutions, which are designed to address the complex challenges faced by modern law enforcement and defense agencies worldwide.
Wrap Technologies has positioned itself as a leader in the development of non-lethal tools and training systems. Its flagship product, the BolaWrap 150, is a patented device that deploys a multi-sensory distraction to create time and distance in potentially volatile situations, reducing the risk of injury to both officers and subjects. The device is not pain-based and does not shoot, strike, shock, or incapacitate; instead, it provides a pre-escalation tool that helps officers manage non-compliant individuals before resorting to higher-force options. The BolaWrap 150 is already in use by over 1,000 agencies across the United States and in 60 countries, with training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
In addition to the BolaWrap, Wrap Technologies offers a comprehensive suite of products and services, including the Wrap Reality immersive training platform, which uses virtual reality to enhance decision-making under stress; the WrapVision body-worn camera system, which provides secure evidence management with cloud integration and a made-in-America roadmap; and next-generation counter-unmanned aircraft system (C-UAS) solutions such as PAN-DA and the 1KC Kinetic Anti-Drone Cassette. These offerings address the growing demand for scalable, cost-effective technologies in public safety, defense, and critical infrastructure markets.
The successful completion of this offering provides Wrap Technologies with additional financial flexibility to accelerate its growth initiatives. According to the company, the proceeds will support its mission to deliver cutting-edge technology that enhances the safety and effectiveness of public safety organizations. The company's focus on innovation and its expanding global footprint position it well to capitalize on the increasing adoption of non-lethal tools and advanced training solutions.
For more information on Wrap Technologies and its product lineup, visit the company's newsroom at https://ibn.fm/WRAP.
