Wrap Technologies Announces Nasdaq Ticker Symbol Change to “WRAP”
TEMPE, Arizona, Nov. 30, 2020 – WRAP Technologies (Nasdaq: WRTC) announced a change of its ticker symbol from WRTC to WRAP, effective December 1, 2020. This change aims to enhance brand visibility and recognition among investors, aligning the ticker with the company’s branding strategy. The BolaWrap 100, WRAP's innovative product, is designed for law enforcement to safely deescalate encounters without injury. Shareholders need not take any action regarding the ticker change, as the capital structure remains unchanged.
- Change of ticker symbol to WRAP aligns with corporate branding strategy.
- BolaWrap 100 is being recognized globally for its effectiveness in law enforcement.
- None.
TEMPE, Arizona, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the “Company” or “WRAP”) (Nasdaq: WRTC), an innovator of modern policing solutions, today announced that the Company’s ticker symbol on Nasdaq will change to “WRAP” from “WRTC”. Trading under the new ticker symbol will began at the market open on Tuesday, December 1, 2020.
| New Ticker Symbol: WRAP When: December 1, 2020 (tomorrow) at market open |
“We are excited to align the new ticker symbol “WRAP” directly to our corporate brand and strengthen our visibility with public investors while providing consistent brand recognition across all stakeholders,” explained Tom Smith, President and Interim CEO at WRAP. “We are protecting our WRAP® and BolaWrap® brands in 50 countries as our brand recognition continues to increase worldwide. The recent change of our corporate web site to “wrap.com” along with the new ticker symbol makes it easier for customers, current shareholders and prospective investors to find and follow our Company.”
No action is needed from current shareholders relative to the ticker symbol change. There was no change in capital structure and the common stock will continue to be listed on Nasdaq with the CUSIP number unchanged as 98212N 107.
About WRAP
WRAP Technologies, Inc. is an innovator of modern policing solutions. The Company’s BolaWrap 100 product is a patented, hand-held remote restraint device that discharges an eight-foot bola style Kevlar® tether to restrain an individual at a distance from 10 to 25 feet. Developed by award winning inventor Elwood Norris, the Company’s Chief Technology Officer, the small but powerful BolaWrap 100 assists law enforcement in safely and effectively deescalating encounters, especially those involving an individual in crisis. BolaWrap 100 has already been used to safely apprehend suspects without injury in a number of cities including Los Angeles, Sacramento, Fresno, Bell, Albuquerque, Minneapolis, West Palm Beach, Fort Worth, and Oak Ridge. For information on the Company, please visit www.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/wraptechnologiesinc/
Trademark Information
BolaWrap and Wrap are trademarks of WRAP Technologies, Inc. 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 press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company’s overall business; total addressable market; and, expectations regarding future sales and expenses. 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 Company’s ability to successful implement training programs for the use of its products; the Company’s ability to manufacture and produce product for its customers; the Company’s ability to develop sales for its new product solution; the 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 solution; 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 ability to obtain export licenses for counties outside of the US; the ability to obtain patents and defend IP 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, quarterly report on Form 10-Q, and other SEC filings. 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 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.
WRAP Contact:
Paul M. Manley
VP – Investor Relations
(612) 834-1804
pmanley@wrap.com
FAQ
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