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Wrap Technologies, Inc. - WRAP STOCK NEWS

Welcome to our dedicated page for Wrap Technologies news (Ticker: WRAP), a resource for investors and traders seeking the latest updates and insights on Wrap Technologies stock.

Wrap Technologies, Inc. (Nasdaq: WRAP) is at the forefront of developing non-lethal public safety technologies. Headquartered in Tempe, Arizona, the company is renowned for creating innovative solutions tailored for law enforcement and security personnel across the globe. One of its flagship products, the BolaWRAP® 150 Remote Restraint Device, is a patented handheld tool that deploys a Kevlar® cord to safely restrain individuals from a distance of 10-25 feet. This device addresses the critical need for non-violent de-escalation in tense situations, making it an essential tool for over 900 agencies in the US and 60 countries worldwide.

Wrap Technologies is committed to creating safer communities through its diverse product lineup. The Wrap Reality™ virtual reality training system offers a fully immersive experience, providing first responders with realistic scenarios to hone their skills and improve decision-making in the field. This innovative platform significantly enhances public safety training by addressing the dynamic nature of modern law enforcement situations.

Adding to its portfolio, Wrap's Intrensic solution is a comprehensive body-worn camera and evidence management system. This platform ensures the accurate capture, secure handling, and reliable storage of evidence, fostering greater trust and transparency in law enforcement procedures. With features like AI Auto-Tagging, which leverages advanced machine learning to streamline video analysis, the Intrensic system supports compliance and reduces operational costs.

Wrap Technologies has established strategic partnerships to expand its reach and impact. Notably, its collaboration with Kokusai Security in the Asia-Pacific region aims to promote the adoption of Wrap's products, bolstering public safety and operational effectiveness across new markets.

Recent achievements of the company include the continued refinement and deployment of its BolaWRAP® device, advancements in virtual reality training through Wrap Reality™, and ongoing enhancements to the Intrensic platform. With a steadfast focus on innovation, Wrap Technologies remains dedicated to equipping law enforcement and security personnel with the tools they need to perform their duties safely and effectively.

For further details, visit wrap.com or contact their Investor Relations at 800.583.2652 or via email at ir@wrap.com.

Rhea-AI Summary
Wrap Technologies, Inc. has announced the acquisition of Intrensic, LLC for $500,000 in cash and 1,250,000 shares of WRAP common stock. This acquisition expands Wrap's solutions portfolio in the body cam and digital evidence management markets, allowing them to offer a more comprehensive suite of solutions to law enforcement and security agencies. The company also reported strong second quarter results, with net revenue increasing 3% to $1.20 million and gross profit increasing 46% to $0.67 million.
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Wrap Technologies announces widespread adoption of BolaWrap® 150 technology by law enforcement agencies, with over 100 agencies upgrading from BolaWrap 100. The BolaWrap 150 boasts key enhancements and a platform approach for continuous advancements.
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Wrap Technologies applauds the Hillsborough County Sheriff's Office for expanding its deployment of the BolaWrap solution. BolaWrap is a remote restraint tool that offers a safe alternative to traditional use-of-force methods. Over 55% of reported BolaWrap deployments were used in situations involving individuals experiencing a mental health crisis. The positive outcomes in Hillsborough County highlight the potential of BolaWrap to revolutionize law enforcement practices worldwide.
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Wrap Technologies, a global pioneer in public safety solutions, announced the closing of its registered direct offering, raising approximately $10 million. The offering consisted of convertible preferred stock and warrants. The company plans to use the funds to scale its sales team, boost marketing efforts, and diversify its product offerings.
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Wrap Technologies announces a securities purchase agreement to raise $10 million in a registered direct offering of convertible preferred stock and warrants. The offering is expected to close on July 3, 2023. The preferred stock has a conversion price of $1.45 per share and the warrants allow for the acquisition of up to 6,896,553 additional shares. The preferred stock will have a stated value of $1,000 per share and holders will be entitled to cumulative dividends of 8% per annum. Katalyst Securities LLC is serving as the placement agent for the offering.
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Wrap Technologies announces the addition of multiple new agency customers, driving further demand for its BolaWrap® solution. The company has experienced a remarkable increase of almost 90% in new agencies purchasing Wrap solutions compared to the previous four-month period.
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FAQ

What is the current stock price of Wrap Technologies (WRAP)?

The current stock price of Wrap Technologies (WRAP) is $1.62 as of December 20, 2024.

What is the market cap of Wrap Technologies (WRAP)?

The market cap of Wrap Technologies (WRAP) is approximately 72.4M.

What does Wrap Technologies, Inc. do?

Wrap Technologies, Inc. develops non-lethal public safety solutions, including the BolaWRAP® 150 Remote Restraint Device, Wrap Reality™ VR training system, and Intrensic body-worn cameras.

Where is Wrap Technologies headquartered?

Wrap Technologies is headquartered in Tempe, Arizona.

What is BolaWRAP® 150?

BolaWRAP® 150 is a hand-held device that deploys a Kevlar® cord to safely restrain individuals from a distance, designed for non-violent de-escalation by law enforcement.

What is Wrap Reality™?

Wrap Reality™ is a virtual reality training system that provides immersive training scenarios for first responders to improve decision-making and tactical skills.

What is the Intrensic solution?

Intrensic is a body-worn camera and evidence management system that captures, handles, stores, and tracks evidence securely, enhancing transparency and trust in law enforcement.

How many agencies use Wrap Technologies' products?

Over 900 agencies in the US and 60 countries worldwide use Wrap Technologies' products.

Who is Wrap Technologies' partner in the Asia-Pacific region?

Wrap Technologies has partnered with Kokusai Security to distribute their products in the Asia-Pacific region.

What is AI Auto-Tagging in the Intrensic system?

AI Auto-Tagging is a feature that uses machine learning algorithms to automatically identify and label objects and activities in video evidence, streamlining the analysis process.

How can I contact Wrap Technologies for investor relations?

You can contact Wrap Technologies for investor relations at 800.583.2652 or via email at ir@wrap.com.

Where can I find more information about Wrap Technologies?

For more information, you can visit the Wrap Technologies website at wrap.com.

Wrap Technologies, Inc.

Nasdaq:WRAP

WRAP Rankings

WRAP Stock Data

72.44M
31.35M
30.82%
10.59%
10.48%
Scientific & Technical Instruments
Ordnance & Accessories, (no Vehicles/guided Missiles)
Link
United States of America
TEMPE