Wrap Technologies Secures $5.8M in Private Placement of Securities

TEMPE, Ariz., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies (NASDAQ: WRAP) (“Wrap” or, the “Company”) today announced it that it has executed a securities purchase agreement with certain investment partnerships affiliated with the Company and certain accredited and institutional investors in a private placement for the purchase and sale of (i) an aggregate of 3,216,666 shares of common stock of the Company, at a purchase price of $1.80 per share of common stock, and (ii) accompanying warrants to purchase 3,216,666 shares of common stock, for aggregate proceeds of approximately $5.8 million. The warrants will be immediately exercisable at an initial exercise price of $1.80 per share, subject to adjustment, and expire five years from the date of issuance.