Wrap Technologies, Inc. (NASDAQ: WRAP), a global leader in innovative public safety technologies, has announced the closing of its registered direct offering, which raised approximately $12 million in gross proceeds. 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 included participation from a fundamental institutional investor and an existing investor, demonstrating continued confidence in the company's strategic direction.
The company intends to utilize the net proceeds for general corporate purposes and working capital, including future planned business expansion. This capital infusion is expected to support Wrap's ongoing efforts to enhance its portfolio of public safety solutions, which address the complex challenges faced by modern law enforcement agencies worldwide.
Maxim Group LLC acted as the sole placement agent for the offering, underscoring the company's ability to attract reputable financial partners. The closing of this offering marks a significant milestone for Wrap, providing the financial flexibility to accelerate development and deployment of its advanced technologies.
Wrap's comprehensive product lineup includes the non-lethal BolaWrap® 150 device, which has been adopted by over 1,000 agencies across the United States and in 60 countries. The BolaWrap® 150 is designed to provide law enforcement with a safer option for managing non-compliant individuals, reducing the risk of injury to both officers and subjects. By deploying a multi-sensory distraction, the device creates time and distance, allowing officers to de-escalate situations before resorting to higher-force options.
In addition to BolaWrap®, Wrap offers the Wrap Reality™ immersive training platform, which provides first responders with realistic, interactive scenarios to enhance decision-making under stress. The company also recently introduced WrapVision™, a body-worn camera and evidence management system that prioritizes security, transparency, and efficiency. WrapVision features streamlined cloud integration and a roadmap for North American assembly by early 2026, addressing concerns about data integrity and foreign surveillance risks.
The company's next-generation counter-unmanned aircraft systems (C-UAS), including PAN-DA and the 1KC Kinetic Anti-Drone Cassette, further solidify its position as a provider of cutting-edge public safety technologies. These solutions are designed to protect critical infrastructure and support defense applications.
The successful completion of this offering is a testament to Wrap's growth trajectory and the increasing demand for non-lethal tools and training solutions in public safety. With fresh capital, the company is well-positioned to expand its market reach, invest in research and development, and deliver on its mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets.
For more information about Wrap Technologies and its products, visit the company's newsroom at https://ibn.fm/WRAP.
