Wrap Technologies, Inc. entered into a securities purchase agreement for a registered direct offering with an institutional investor and an existing investor, expecting to raise approximately $12.0 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes.
Key Details
- Offering Details: The offering includes 5,771,519 shares of common stock at a purchase price of $1.40 per share, and Pre-Funded Warrants to purchase up to 2,800,090 shares at $1.3999 per warrant.
- Warrant Terms: The Pre-Funded Warrants are immediately exercisable at a price of $0.0001 per share and remain exercisable until exercised in full, subject to a beneficial ownership limitation.
- Timeline & Parties: The agreement was signed on August 16, 2026, and the offering is expected to close on or about August 18, 2026. Maxim Group LLC is acting as the sole placement agent.