Wrap Technologies, Inc. (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.
This capital infusion comes at a critical time as Wrap Technologies continues to scale its comprehensive public safety portfolio, which includes the non-lethal BolaWrap 150 device, Wrap Reality immersive training platform, WrapVision body-worn camera system, and next-generation counter-unmanned aircraft system (C-UAS) solutions. The funding will support the company's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets.
The BolaWrap 150, a patented device, deploys a multi-sensory cognitive disruption to expand the pre-escalation period, giving officers critical time to manage non-compliant subjects before resorting to higher-force options. It does not shoot, strike, shock, or incapacitate, but rather helps officers operate pre-escalation on the force continuum, reducing injury risk. Used by over 1,000 agencies across the U.S. and in 60 countries, the BolaWrap is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
Wrap Reality is a fully immersive training simulator that enhances decision-making under stress, providing first responders with realistic scenarios reflecting modern law enforcement challenges. WrapVision, an all-new body-worn camera and evidence management system, is designed for efficiency, security, and transparency, with streamlined cloud integration and a made-in-America roadmap projected for early 2026.
The offering underscores investor confidence in Wrap's growth trajectory and its ability to meet the rising demand for non-lethal tools and techniques in law enforcement. As public safety agencies increasingly seek alternatives to deadly force, Wrap's technologies are positioned to play a pivotal role in reshaping modern policing. The additional capital will enable the company to accelerate product development, expand market reach, and strengthen its balance sheet.
For more information on Wrap Technologies and its product suite, visit the company's newsroom at https://ibn.fm/WRAP.
