Wrap Technologies, Inc. (NASDAQ: WRAP), a global public safety technology company, has announced the closing of its registered direct offering, raising approximately $12 million in gross proceeds. The offering involved the sale of 8,571,609 shares of common stock, or pre-funded warrants in lieu thereof, at a price of $1.40 per share. The transaction included participation from a fundamental institutional investor and an existing investor. Maxim Group LLC acted as the sole placement agent.
The company intends to use the net proceeds for general corporate purposes and working capital, including future planned business expansion. This capital infusion comes as Wrap Technologies continues to advance its portfolio of public safety solutions, which includes the BolaWrap 150, a non-lethal restraint device designed to assist law enforcement in de-escalating situations. The device is used by over 1,000 agencies across the United States and in 60 countries, and its training is certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST).
In addition to BolaWrap, Wrap Technologies offers WrapReality, an immersive virtual reality training platform for first responders, and WrapVision, a body-worn camera system with evidence management capabilities. The company also provides C-UAS solutions, such as PAN-DA and the 1KC Kinetic Anti-Drone Cassette, catering to defense and critical infrastructure markets.
The funding arrives at a time when there is growing demand for non-lethal tools and techniques that create time, distance, and tactical advantage in non-criminal calls. The BolaWrap 150 incorporates a multi-sensory distraction of sight and sound as a first response, followed by a non-lethal restraint if further escalation is required. This approach aims to reduce the risk of injury to officers, subjects, and the community.
The company’s strategic focus includes enhancing its training and technology offerings to meet the complex challenges faced by public safety organizations. WrapReality provides realistic, interactive scenarios that reflect modern law enforcement challenges, while WrapVision ensures data integrity and addresses concerns over unauthorized access or foreign surveillance risks. The WrapVision camera, powered by IONODES, features streamlined cloud integration and a made-in-America roadmap projected for early 2026.
This capital raise is a significant step for Wrap Technologies as it seeks to expand its market presence and continue innovating in the public safety sector. For more information about the offering, visit https://ibn.fm/S1XsK.
