🔴 Wrap Technologies is trading 14.89% down today after pricing a discounted $1.40-per-share offering

Wrap Technologies is trading 14.89% down now at $1.60 after announcing a registered direct offering priced at $1.40 per share.

• The company expects approximately $12 million in gross proceeds from selling 8,571,609 shares or pre-funded warrants.
• Funds are designated for working capital and general corporate purposes.
• The discounted issuance is pressuring shares by creating dilution and pricing securities below recent market levels.