Wrap Technologies Raises $12M in Registered Direct Offering to Fuel Expansion

Wrap Technologies (NASDAQ: WRAP), a global public safety technology company, has closed a registered direct offering with a fundamental institutional investor and an existing investor, generating gross proceeds of approximately $12 million. The offering comprised 8,571,609 shares of common stock, or pre-funded warrants in lieu thereof, at a price of $1.40 per share. Maxim Group LLC served as the sole placement agent.

The capital raise is a strategic move to bolster the company's financial position and support its ambitious growth plans. Wrap intends to allocate the proceeds towards general corporate purposes and working capital, including future planned business expansion. This infusion of funds comes at a critical time as the demand for advanced public safety technologies continues to rise globally.

Wrap Technologies has positioned itself as a leader in the development of non-lethal tools and intelligent solutions for law enforcement and defense. The company's flagship product, the BolaWrap 150, is a patented restraint device that deploys a multi-sensory distraction to help officers manage non-compliant individuals without resorting to higher-force options. Unlike traditional pain-based compliance tools, the BolaWrap 150 does not shoot, strike, shock, or incapacitate. Instead, it provides a safer alternative that reduces the risk of injury to officers, subjects, and the community.

The company's portfolio extends beyond the BolaWrap. It includes Wrap Reality, an immersive virtual reality training platform that simulates real-world scenarios to enhance decision-making under stress; WrapVision, a body-worn camera system designed for efficiency and security with cloud integration and a made-in-America roadmap; and next-generation counter-unmanned aerial system (C-UAS) solutions like PAN-DA and the 1KC Kinetic Anti-Drone Cassette. These technologies address a wide range of public safety challenges, from de-escalation to evidence management and drone defense.

The market response has been encouraging, with over 1,000 agencies across the U.S. and 60 countries already using the BolaWrap. The device is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), underscoring the company's commitment to safety and effectiveness. The growing adoption of non-lethal tools reflects a broader trend towards minimizing harm in law enforcement encounters.

The $12 million offering provides Wrap with the financial flexibility to accelerate its product development and market expansion. As public safety agencies increasingly seek innovative solutions to complex challenges, Wrap Technologies is well-positioned to capitalize on these opportunities. The company's focus on creating time, distance, and tactical advantage in non-criminal calls aligns with the evolving needs of modern policing.

Investors and analysts will be watching closely to see how Wrap utilizes these funds to drive growth and maintain its competitive edge. With a robust product lineup and a clear strategic vision, the company aims to solidify its leadership in the public safety technology sector. The successful closing of this offering is a testament to investor confidence in Wrap's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets.