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.
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