IPO - WRAP TECHNOLOGIES, INC.

Form Type: S-1/A

Filing Date: 2025-05-12

Corporate Action: Ipo

Type: Update

Accession Number: 000164117225009761

Filing Summary: On May 12, 2025, Wrap Technologies, Inc. filed an amendment to its S-1 registration statement under the Securities Act of 1933 to relate to the resale of up to 6,433,332 shares of common stock by selling securityholders. This includes 3,216,666 common shares and 3,216,666 warrant shares with an exercise price of $1.80 per share, issued under a securities purchase agreement dated February 24, 2025. The prospectus indicates that while the company will not receive proceeds from the sales of these securities by the selling securityholders, it will receive funds from any exercised warrants. The filing describes the company's business which focuses on providing public safety technology and services, as well as details regarding risks and market conditions affecting the trading of its common stock. As of May 9, 2025, the trading price was reported at $1.47 per share, below the warrant exercise price, suggesting a lower likelihood of the warrants being exercised unless market conditions improve. The company is identified as a smaller reporting company, which allows it certain simplified filing requirements. The document underscores the risks associated with investments in the securities, noting potential volatility due to sales of large quantities of shares by existing shareholders.

Form Type: S-1

Filing Date: 2025-04-25

Corporate Action: Ipo

Type: New

Accession Number: 000164117225006288

Filing Summary: On April 25, 2025, Wrap Technologies, Inc. filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission to offer up to 6,433,332 shares of common stock, of which 3,216,666 shares are common stock issuable upon the exercise of warrants. The common stock has a par value of $0.0001, with warrants priced at $1.80 per share. The company will not receive proceeds from the sale of shares by selling securityholders but will receive proceeds from warrants exercised at $1.80 per share. The closing price of Wrap's common stock on April 24, 2025, was $1.60 per share, below the warrant exercise price, potentially affecting the likelihood of warrant exercises. The company is categorized as a smaller reporting company and is committed to enhancing its product offerings, including the BolaWrap remote restraint device, the Wrap Reality training platform, and other policing solutions. This IPO marks a move to increase the company's market presence and capture a share of the growing global public safety technology market projected to reach $16.1 billion by 2027. The company's shares are listed on Nasdaq under the symbol 'WRAP'.