Wrap Technologies Closes $12M Offering to Boost Public Safety Tech

Wrap Technologies (NASDAQ: WRAP), a global public safety technology company, has successfully closed its registered direct offering, raising approximately $12 million in gross proceeds. The offering consisted of 8,571,609 shares of common stock or pre-funded warrants at $1.40 per share, with participation from a fundamental institutional investor and an existing investor. Maxim Group LLC acted as the sole placement agent. The company plans to use the funds for general corporate purposes, working capital, and future business expansion. This capital infusion is expected to support Wrap's continued growth and innovation in the public safety sector.

Wrap Technologies is known for its cutting-edge public safety solutions, including the BolaWrap 150, a non-lethal restraint device that uses a multi-sensory distraction to gain compliance without causing pain. The company also offers Wrap Reality, an immersive VR training platform; WrapVision, a body-worn camera system; and advanced C-UAS solutions. With over 1,000 agencies in the U.S. and deployments in 60 countries, Wrap's technologies are widely adopted. The BolaWrap is designed to de-escalate situations, reducing injuries to officers and subjects alike, and is backed by IADLEST-certified training.

The company's focus on innovation and safety is evident in its recent strategic moves. WrapVision, powered by IONODES, offers secure evidence management with a made-in-America roadmap, addressing concerns about data security. The success of this offering underscores investor confidence in Wrap's mission to provide safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure. As the demand for non-lethal tools grows, Wrap is well-positioned to lead the industry. For more details, visit the full press release at https://ibn.fm/S1XsK or the original release on NEWMEDIAWIRE.