{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-019439","form_type":"8-K","ticker":"WRAP","cik":"0001702924","company_name":"WRAP TECHNOLOGIES, INC.","filed_at":"2023-07-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.911625+00:00","generated_at":"2026-06-13T11:58:27.646964+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Wrap Technologies closes $10M convertible preferred offering with warrants at $1.45 conversion","bullets":["Gross proceeds of $10M from sale of Series A convertible preferred stock and warrants.","Preferred stock: 10,000 shares, $1,000 stated value, 8% cumulative dividend, convertible into 6,896,553 common shares at $1.45.","Warrants to purchase 6,896,553 common shares at $1.45, exercisable after 6 months, expire in 5 years.","Net proceeds of ~$9M to be used to scale sales team, boost marketing, and fund product development.","Investors include company founder, directors, and accredited/institutional investors."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-019439","json":"https://secwatch.observer/filing/0001437749-23-019439.json","markdown":"https://secwatch.observer/filing/0001437749-23-019439.md","text":"https://secwatch.observer/filing/0001437749-23-019439.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923019439/0001437749-23-019439-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923019439/wrap20230702_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T11:58:27.646964+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"757235e877db8277d4b171cd0e04a948f6bc26f5","claim":"WRAP TECHNOLOGIES, INC. entered into Securities Purchase Agreement with certain directors of the Company and certain accredited and institutional investors (effective 2023-06-29).","evidence_excerpt":"On June 29, 2023, Wrap Technologies, Inc. (the “Company”) entered into a Securities Purchase Agreement with certain directors of the Company and certain accredited and institutional investors (collectively, the “Investors”), pursuant to which it agreed to sell to the Investors in a registered direct offering (the “Offering”) (i) an aggregate of 10,000 shares of the Company’s newly-designated Series A Convertible Preferred Stock, with par value $0.0001 per share and a stated value of $1,000 per share, initially convertible into up to 6,896,553 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a conversion price of $1.45 per share, and (ii) warrants to acquire up to an aggregate of 6,896,553 shares of Common Stock.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923019439/0001437749-23-019439-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"certain directors of the Company and certain accredited and institutional investors"},{"label":"Effective","value":"2023-06-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}