LOS ANGELES — Wrap Technologies (NASDAQ: WRAP), a global public safety technology company, announced the closing of a registered direct offering that raised approximately $12 million in gross proceeds. The offering, which was previously announced, 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 investment came from a fundamental institutional investor and an existing investor, with Maxim Group LLC acting 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 injection comes at a time when Wrap Technologies is broadening its portfolio of public safety solutions, which now includes the non-lethal BolaWrap 150 device, the Wrap Reality immersive training platform, the WrapVision body-worn camera system, WrapTactics training programs, and counter-unmanned aerial system (C-UAS) solutions such as PAN-DA and the 1KC Kinetic Anti-Drone Cassette.
Wrap’s flagship product, the BolaWrap 150, is a patented restraint device that deploys 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 is designed to reduce the risk of injury to officers, subjects, and the community. Unlike pain-based compliance tools, the BolaWrap 150 does not shoot, strike, shock, or incapacitate; instead, it creates a tactical advantage by expanding the pre-escalation period, giving officers more time to manage non-compliant individuals before resorting to higher-force options. The device is already used by over 1,000 agencies across the U.S. 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 the BolaWrap, Wrap Technologies is advancing its training and evidence management capabilities. WrapReality VR is a fully immersive training simulator that provides first responders with realistic, interactive scenarios to enhance decision-making under stress. The platform aims to equip officers with the skills and confidence needed to navigate high-stakes encounters effectively, leading to safer outcomes for both responders and communities.
The company’s new WrapVision body-worn camera system, powered by IONODES, is designed for efficiency, security, and transparency. It captures, stores, and helps manage digital evidence, ensuring operational security, regulatory compliance, and enhanced video quality and field of view. A key feature of WrapVision is its streamlined cloud integration and final North American assembly, with a critical made-in-America roadmap projected for early 2026. This approach helps ensure data integrity and addresses concerns over unauthorized access or foreign surveillance risks.
The completion of this offering provides Wrap Technologies with additional financial resources to continue its mission of delivering safer, scalable, and cost-effective technologies for public safety, defense, and critical infrastructure markets. As the demand for non-lethal tools grows, the company is well-positioned to expand its reach and further develop its product lines. For more information about Wrap Technologies and its latest updates, visit their newsroom at https://ibn.fm/WRAP.
This announcement comes at a pivotal time for the public safety industry, where the adoption of non-lethal technologies is increasingly seen as a critical component of modern law enforcement strategies. The additional funding may accelerate the deployment of Wrap’s solutions across more agencies, potentially impacting how officers approach de-escalation and evidence management in the field.
