WRAP Appoints Jared Novick as President, Unveils Federal Support Plans to Enhance Efficiency and Productivity in Public Safety
Wrap Technologies (NASDAQ: WRAP) has appointed Jared Novick as President and Chief Operating Officer, marking a strategic shift in the company's direction. The announcement comes following Wrap's relocation of its manufacturing headquarters to Virginia and plans to establish offices near Washington, D.C., positioning the company to pursue U.S. Federal government contracts.
Novick, who recently made a significant investment of 275,000 shares and warrants through an affiliated partnership, aims to lead Wrap's expansion into efficiency-driven public safety offerings. The company plans to focus on technology consolidation in public safety, leveraging its recent W1 Global acquisition to help federal agencies optimize strategies and reduce costs.
With Novick's extensive background in U.S. Intelligence Agencies and defense contracting, Wrap is positioning itself to expand internationally through Beltway networks and plans to work with U.S. government organizations facilitating global exports. The company's strategy includes aligning its offerings with government contracting requirements and pursuing prime and sub-contracts.
Wrap Technologies (NASDAQ: WRAP) ha nominato Jared Novick come Presidente e Direttore Operativo, segnando un cambiamento strategico nella direzione dell'azienda. L'annuncio arriva dopo il trasferimento della sede produttiva della Wrap in Virginia e i piani per stabilire uffici vicino a Washington, D.C., posizionando l'azienda per perseguire contratti con il governo federale degli Stati Uniti.
Novick, che ha recentemente effettuato un investimento significativo di 275.000 azioni e warrant tramite un partenariato affiliato, mira a guidare l'espansione di Wrap in offerte di sicurezza pubblica orientate all'efficienza. L'azienda intende concentrarsi sulla consolidazione tecnologica nella sicurezza pubblica, sfruttando la recente acquisizione di W1 Global per aiutare le agenzie federali a ottimizzare le strategie e ridurre i costi.
Con l'ampio background di Novick nelle agenzie di intelligence statunitensi e nei contratti di difesa, Wrap si sta posizionando per espandersi a livello internazionale attraverso reti di Beltway e prevede di collaborare con organizzazioni governative statunitensi per facilitare le esportazioni globali. La strategia dell'azienda include l'allineamento delle sue offerte con i requisiti dei contratti governativi e la ricerca di contratti principali e sub-contratti.
Wrap Technologies (NASDAQ: WRAP) ha designado a Jared Novick como Presidente y Director de Operaciones, marcando un cambio estratégico en la dirección de la empresa. El anuncio se produce tras la reubicación de la sede de fabricación de Wrap a Virginia y los planes para establecer oficinas cerca de Washington, D.C., posicionando a la empresa para buscar contratos con el gobierno federal de EE. UU.
Novick, que recientemente realizó una inversión significativa de 275,000 acciones y warrants a través de una asociación afiliada, tiene como objetivo liderar la expansión de Wrap en ofertas de seguridad pública orientadas a la eficiencia. La empresa planea centrarse en la consolidación tecnológica en seguridad pública, aprovechando su reciente adquisición de W1 Global para ayudar a las agencias federales a optimizar estrategias y reducir costos.
Con la amplia experiencia de Novick en agencias de inteligencia de EE. UU. y contratos de defensa, Wrap se está posicionando para expandirse internacionalmente a través de redes de Beltway y planea trabajar con organizaciones gubernamentales de EE. UU. para facilitar las exportaciones globales. La estrategia de la empresa incluye alinear sus ofertas con los requisitos de contratación gubernamental y buscar contratos principales y sub-contratos.
랩 테크놀로지스 (NASDAQ: WRAP)는 제이레드 노빅을 사장 겸 최고 운영 책임자로 임명하며 회사의 방향에 전략적 전환을 알렸습니다. 이번 발표는 랩의 제조 본사를 버지니아로 이전한 뒤 워싱턴 D.C. 인근에 사무소를 설립할 계획과 함께 이루어졌으며, 이는 회사를 미국 연방 정부 계약을 추구하는 위치에 놓이게 합니다.
노빅은 최근 제휴 파트너십을 통해 275,000주와 워런트를 대규모로 투자했으며, 랩의 효율성 중심 공공 안전 서비스 확장을 이끌고자 합니다. 회사는 공공 안전 분야의 기술 통합에 집중하고, 최근 W1 글로벌 인수를 활용하여 연방 기관들이 전략을 최적화하고 비용을 절감할 수 있도록 지원할 계획입니다.
노빅의 미국 정보 기관 및 방위 계약 분야에서의 폭넓은 경력을 바탕으로 랩은 벨트웨이 네트워크를 통해 국제적으로 확장할 위치를 마련하고 있으며, 글로벌 수출을 촉진하는 미국 정부 기관과 협력할 계획입니다. 회사의 전략은 정부 계약 요구 사항에 맞춰 제품을 조정하고 주요 계약 및 하도급 계약을 추구하는 것을 포함합니다.
Wrap Technologies (NASDAQ: WRAP) a nommé Jared Novick au poste de Président et Directeur des Opérations, marquant un changement stratégique dans la direction de l'entreprise. L'annonce intervient après le déménagement du siège de fabrication de Wrap en Virginie et les projets d'établir des bureaux près de Washington, D.C., positionnant ainsi l'entreprise pour poursuivre des contrats avec le gouvernement fédéral américain.
Novick, qui a récemment réalisé un investissement significatif de 275 000 actions et warrants via un partenariat affilié, vise à diriger l'expansion de Wrap vers des offres de sécurité publique axées sur l'efficacité. L'entreprise prévoit de se concentrer sur la consolidation technologique dans la sécurité publique, en s'appuyant sur sa récente acquisition de W1 Global pour aider les agences fédérales à optimiser leurs stratégies et à réduire les coûts.
Avec l'expérience étendue de Novick dans les agences de renseignement américaines et les contrats de défense, Wrap se positionne pour s'étendre à l'international via des réseaux de Beltway et prévoit de collaborer avec des organisations gouvernementales américaines pour faciliter les exportations mondiales. La stratégie de l'entreprise comprend l'alignement de ses offres avec les exigences de passation de marchés gouvernementaux et la recherche de contrats principaux et sous-contrats.
Wrap Technologies (NASDAQ: WRAP) hat Jared Novick zum Präsidenten und Chief Operating Officer ernannt, was einen strategischen Wandel in der Ausrichtung des Unternehmens markiert. Die Ankündigung erfolgt nach dem Umzug des Produktionshauptsitzes von Wrap nach Virginia und den Plänen, Büros in der Nähe von Washington, D.C. zu errichten, was das Unternehmen in die Lage versetzt, Verträge mit der US-Bundesregierung zu verfolgen.
Novick, der kürzlich eine bedeutende Investition von 275.000 Aktien und Warrants über eine verbundene Partnerschaft getätigt hat, hat sich zum Ziel gesetzt, die Expansion von Wrap in effizienzorientierte Angebote im Bereich öffentliche Sicherheit zu leiten. Das Unternehmen plant, sich auf die Technologiekonsolidierung im Bereich der öffentlichen Sicherheit zu konzentrieren und seine kürzliche Übernahme von W1 Global zu nutzen, um Bundesbehörden bei der Optimierung von Strategien und der Senkung von Kosten zu helfen.
Mit Novicks umfangreicher Erfahrung in US-Geheimdiensten und Verteidigungsverträgen positioniert sich Wrap, um international über Beltway-Netzwerke zu expandieren und plant, mit US-Regierungsorganisationen zusammenzuarbeiten, um globale Exporte zu erleichtern. Die Strategie des Unternehmens umfasst die Ausrichtung seiner Angebote an den Anforderungen der Regierungsverträge und die Verfolgung von Haupt- und Unterverträgen.
- Significant insider investment of 275,000 shares by new President shows confidence
- Strategic relocation to Virginia positions company for federal contracts
- Acquisition of W1 Global brings valuable federal agency expertise
- New leadership brings extensive government and defense contracting experience
- Recent share offering indicates potential dilution for existing shareholders
U.S. Government efficiency initiatives unlock opportunities for WRAP to lead public safety tech consolidation, deliver cost savings and reform training solutions
NORTON, Va., March 12, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or, the “Company”) is pleased to announce the promotion of Jared Novick to President and Chief Operating Officer of the Company. Under his leadership, Wrap expects to launch a new wave of efficiency-driven public safety offerings designed to support law enforcement and federal agencies. This expansion aligns with Wrap's recent relocation of its manufacturing headquarters to Virginia, a move recognized by Virginia Governor Glenn Youngkin in November 2024. With plans to establish offices near Washington, D.C., the new location strengthens Wrap's pursuit of U.S. Federal government contracts and expansion initiatives.
"Wrap’s plans include providing agencies with the tools they need to resolve critical situations more effectively," said Jared Novick. "We have a lot to offer the government in terms of productivity and efficiency. The public safety space is ripe for identifying areas of potential bloat. Too many tech providers are fragmented, driving the cost of implementation up and productivity down. We believe there’s a major consolidation opportunity for federal, state, and local governments to leverage our emerging services to streamline operations and save money along the way."
Scot Cohen, Chief Executive Officer of Wrap, stated, "Jared's integrity, judgment, and leadership make him a driving force in this business. I'm grateful and humbled by his contributions."
Additionally, Mr. Cohen added, "Jared, who has been instrumental in stabilizing operations and implementing cost controls at Wrap, also has a distinguished career as a successful business operator and government civil servant. He is uniquely positioned to leverage his expertise in technologies that now have significant applications in public safety. Many of these technologies have long been established within the defense industrial base and are now primed for broader adoption in law enforcement and emergency response. His technical and operational experience positions him to lead the company into its next chapter of growth, focusing on integrating proven technologies into public safety rather than developing entirely new ones."
Participation in Wrap
In addition to his new role, Mr. Novick has demonstrated his confidence in Wrap’s future through a purchase through a certain investment partnership affiliated with Mr. Novick of 275,000 shares of common stock of the Company and accompanying warrants to purchase 275,000 shares of common stock of the Company, reinforcing his alignment with the Company’s long-term vision.
"Jared's investment through a certain investment partnership in WRAP's recent offering represents the largest investment in WRAP by a non-founder, demonstrating the same alignment and commitment to drive value in WRAP," said Mr. Cohen.
Vision for Federal
Wrap recognizes the U.S. government's recent push for cost efficiencies and is committed to supporting cost-saving initiatives through integrated technology consolidation focused on public safety. By leveraging established public-private partnership frameworks, Wrap aims to implement more efficient training solutions, deploy advanced technologies, and co-execute public safety platforms for federal agencies. With its recent acquisition of W1 Global, LLC and their significant track record of identifying inefficiencies, Wrap is uniquely positioned to help federal agencies optimize public safety strategies. This includes deploying Wrap’s innovative technologies, reducing redundancy, cutting unnecessary costs and enhancing overall operational effectiveness.
International Expansion
As part of its federal business expansion and strategic focus on Washington, D.C. relationships, we believe Wrap is positioned to connect its late-stage international pipeline with newly acquired senior talent, leveraging extensive Beltway networks and an international in-country support network of former government personnel. We believe this strategic alignment creates valuable entry points for global distribution while ensuring coordination with evolving U.S. resources and policies. Plans are expected to include working more closely with U.S. government organizations that facilitate U.S. exports globally.
Background in Government and Commercial Managed Service Providers (MSP) and Professional Services
In his new role, Mr. Novick will lead Wrap through its recent acquisition of W1 Global, LLC, drive operations for Managed Safety and Response, and spearhead the launch of federal business initiatives—starting by aligning its offerings to meet government contracting requirements in its pursuit to secure prime and sub-contracts.
Mr. Novick’s career includes key roles serving U.S. Intelligence Agencies and supporting Special Projects under the Office of the Secretary of Defense, bringing deep expertise in federal contracting. Mr. Novick successfully transitioned from public service to entrepreneurship, founding and exiting two startups. One venture established an international defense contracting company with Top Secret Facility Clearances, delivering aerospace services for classified U.S. government operations. Another of his more recent ventures—now valued as a billion-dollar cybersecurity firm—specialized in providing managed cybersecurity services to commercial clients worldwide.
Following the recent W1 Global, LLC acquisition, which brought onboard talent from the FBI, DEA, DoD, and other Intelligence Agencies, Mr. Novick is uniquely experienced across those and similar agencies. We believe this deep understanding of capabilities allows him to strategically position Wrap as a business poised to generate significant value.
Additional Relevant Biographical Information
In the early stages of his career, Mr. Novick was recognized as a subject matter expert in Intelligence, Surveillance, and Reconnaissance (ISR) and advanced technological collection capabilities. He also trained as a NASA Aircrew Member, specializing in High-Altitude Technologies requiring NASA pressure suit operations for missions above 60,000 feet. With over 2,000 flight hours in various fixed-wing aircraft and more than 400 combat flight hours during Operation Enduring Freedom supporting Special Operations units, he has significant experience.
Mr. Novick has also collaborated at the intersection of science and technology with national Federally Funded Research and Development Centers (FFRDCs), contributing to innovative solutions for complex data collection challenges. His partnerships with DARPA, the Naval Postgraduate School, Special Operations, the Department of Homeland Security, the Department of Defense, and the U.S. Intelligence Community led to the successful deployment and operational support of solutions addressing critical challenges in South America, Central Asia and Africa.
About Wrap Technologies, Inc.
Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.
Wrap’s BolaWrap® solution is a safer way to gain compliance—without pain. This innovative, patented device deploys light, sound, and a Kevlar® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.
Wrap Reality™ VR is an advanced, fully immersive training simulator designed to enhance decision-making under pressure. As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.
Wrap’s Intrensic solution is an advanced body-worn camera and evidence management system built for efficiency, security, and transparency. Designed to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.
Trademark Information
Wrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; 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 enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
Investor Relations Contact:
(800) 583-2652
ir@wrap.com
FAQ
What strategic changes has WRAP announced with Jared Novick's appointment as President?
How much did Jared Novick invest in WRAP through his affiliated partnership?
What is WRAP's new business strategy following their Virginia relocation?
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