LOS ANGELES, CA – Wrap Technologies (NASDAQ: WRAP), a global public safety technology company, announced the closing of its previously announced registered direct offering with a fundamental institutional investor and an existing investor. The offering 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 were approximately $12 million before 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. Maxim Group LLC acted as sole placement agent for the offering.
Wrap Technologies is known for its innovative public safety technologies, including the non-lethal BolaWrap 150 device, which deploys a multi-sensory distraction and non-lethal restraint to help law enforcement manage non-compliant subjects before resorting to higher-force options. The device is used by over 1,000 agencies across the U.S. and in 60 countries, and its training is certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
The company also offers the Wrap Reality immersive training platform, which provides first responders with realistic, interactive scenarios to enhance decision-making under stress. Additionally, WrapVision is a body-worn camera and evidence management system designed for efficiency, security, and transparency. It features streamlined cloud integration and a made-in-America roadmap projected for early 2026, addressing concerns over data integrity and foreign surveillance risks.
The capital raise comes at a time of growing demand for non-lethal tools and techniques in public safety. Wrap's portfolio also includes next-generation counter-unmanned aerial system (C-UAS) solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette, aimed at defense and critical infrastructure markets.
The offering provides Wrap Technologies with additional financial flexibility to pursue its strategic initiatives and meet the evolving needs of public safety organizations. The company's mission is to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets.
For more information, visit the full press release at https://ibn.fm/S1XsK. The latest news and updates relating to WRAP are available in the company's newsroom at https://ibn.fm/WRAP.
