Wrap Technologies announces expiration of warranties; 99% of

TEMPE, Arizona, June 21, 2021 (GLOBE NEWSWIRE) – Wrap Technologies, Inc. (the “Company” or “Wrap”) (Nasdaq: WRAP) announced today that the period of exercise of the warrants issued in relation to the Company’s 2019 offer of units consisting of common shares and warrants (the “2019 Unit Financing”) expired on Friday, June 18, 2021 and warrants not exercised can no longer be exercised.

As part of its 2019 unit financing, the company issued 1,923,076 warrants to participating investors, each exercising at $ 6.50 per share, and 153,846 warrants to the 2019 unit financing placement agents, each exercisable at $ 8,125 per share. A total of 2,076,922 warrants, representing 99.9% of the warrants issued in connection with the 2019 unit funding, were exercised over a two-year period to earn approximately $ 12.5 million in revenue. company. Approximately $ 12.05 million was received from this revenue this fiscal quarter as of the date ended June 30, 2021.

“We are pleased with the continued support of our investors and shareholders represented by this additional capital,” said James Barnes, CFO, Secretary and Treasurer. “With the issuance of shares related to these warrants and the cancellation of the balance of the warrants these securities will have no other dilutive effect on the public float of WRAP. The profits of the mandate years are used to increase the sales team, market Wrap products, scale engineering, finance product development and provide working capital to meet the global demand for BolaWrap products and accessories. ”

This press release will not constitute an offer to sell or the solicitation of an offer to purchase any of the securities described in this document, nor will there be any sale of such securities in any state or jurisdiction in which such offer is legality or sale would be illegal. before registration or qualification under the securities laws of any such state or jurisdiction.

About WRAP
WRAP Technologies (Nasdaq: WRAP) is a world leader in innovative public safety technologies and services that offer advanced solutions focused on preventing escalation. The BolaWrap® Remote Retention Device, WRAP’s first product, is a patented portable device that unloads a Kevlar® cord to stay temporarily at a safe distance. Through many field uses and growing adoption by agencies around the world, BolaWrap is proving to be an effective tool for detaining people safely without injuries. WRAP Reality, the company’s virtual reality training system, is an immersive training simulator and a comprehensive public safety training platform designed to train first aiders with the knowledge needed to perform them in the field. WRAP is headquartered in Tempe, Arizona. For more information, visit wrap.com.

Follow WRAP here:
WRAP on Facebook: https://www.facebook.com/wraptechnologies/
WRAP on Twitter: https://twitter.com/wraptechinc
WRAP on LinkedIn: https://www.linkedin.com/company/wraptechnologies/

Trademark information
BolaWrap, Wrap, and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are trademarks or registered trademarks of their respective owners.

Cautionary note on forward-looking statements: safe harbor statement
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include, but are not limited to: statements on the company’s overall business ; total addressable market; and, expectations about future sales and expenses. Words like “expect”, “anticipate”, “should”, “believe”, “goal”, “project”, “goals”, “love”, “potential”, “predict”, “can”, “want” , “could”, “intends” and variations of these terms or the negative of these similar terms and expressions are intended to identify these forward-looking statements. In addition, forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances that are beyond the company’s control. The actual results of the company could differ materially from those indicated or implied in forward-looking statements due to a number of factors, including, but not limited to, the company’s ability to successfully implement training programs for the use of their products; the company’s ability to manufacture and produce products for its customers; the company’s ability to develop sales for its new product solution; acceptance of existing and future products; the availability of funding to continue funding operations; the complexity, costs, and time associated with sales to government authorities and entities; the long cycle of evaluation and sales of the company’s product solution; product defects; legal risks for alleged product-related injuries; risks of government regulations; the business impact of health crises or disease outbreaks, such as epidemics or pandemics; the possibility of obtaining export licenses for countries outside the US; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the company’s ability to maintain and improve its brand, as well as other risk factors mentioned in the company’s most recent annual report on the 10-K form, the quarterly report on the 10-Q form and other SEC applications. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections, as well as management’s beliefs and assumptions. Except as required by law, the Company undertakes no obligation or obligation to update the forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Contact:

Paul M. Manley
Vice President – Investor Relations
(612) 834-1804
[email protected]

Contact with the media:

[email protected]



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