Wrap Technologies (NASDAQ: WRAP), a global public safety technology company, announced the closing of its 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, generating gross proceeds of approximately $12 million before placement agent fees and other offering expenses. Maxim Group LLC served as the sole placement agent for the offering.
The company intends to use the net proceeds for general corporate purposes and working capital, including future planned business expansion. This capital injection comes at a time when Wrap is positioning itself to meet the growing demand for non-lethal public safety tools and technologies. The company's portfolio includes the BolaWrap 150, a patented non-lethal restraint device that deploys a multi-sensory distraction to help officers manage non-compliant subjects without resorting to higher-force options. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
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 powered by IONODES, with a made-in-America roadmap projected for early 2026. This system aims to ensure data integrity and address concerns over unauthorized access or foreign surveillance risks.
The offering's completion signals investor confidence in Wrap's strategic direction as it expands its product line and addresses the evolving challenges of modern law enforcement. The funds will likely be used to accelerate research and development, scale manufacturing, and enhance marketing efforts for its growing suite of solutions. This move also comes amid increasing interest in non-lethal alternatives and advanced public safety technologies, positioning Wrap to capitalize on these trends.
Wrap Technologies is a global leader in innovative public safety technologies, delivering cutting-edge solutions to address complex challenges facing 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 company's newsroom at https://ibn.fm/WRAP.
This announcement underscores Wrap's commitment to advancing public safety through innovative technology, and the capital raised will support its continued growth and expansion in the coming years. As the company moves forward, it remains focused on delivering solutions that reduce risk and improve outcomes for officers and communities alike.
