---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-024343"
form_type: "8-K"
ticker: "WRAP"
cik: "0001702924"
company_name: "WRAP TECHNOLOGIES, INC."
filed_at: "2023-08-22T23:59:59+00:00"
generated_at: "2026-06-11T05:38:55.201207+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Wrap Technologies acquires Intrensic, LLC for $500K cash and 1.25M shares

## Summary
- Purchase price: $500K cash (subject to working capital adjustments) and 1.25M shares of WRAP common stock.
- Transaction closed on August 16, 2023; acquisition of all membership interests of Intrensic, LLC.
- CEO Kevin Mullins was a selling member; related-party transaction disclosed.
- Shares issued in reliance on Section 4(2) of Securities Act (unregistered sale).
- Inventory valued at $53,588; cash balance transfer to sellers at closing.

## SEC filing metadata
- accession: 0001437749-23-024343
- form_type: 8-K
- ticker: WRAP
- cik: 0001702924
- company_name: WRAP TECHNOLOGIES, INC.
- filed_at: 2023-08-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1702924/000143774923024343/0001437749-23-024343-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1702924/000143774923024343/wrap20230818_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-024343
- JSON: https://secwatch.observer/filing/0001437749-23-024343.json
- Plain text: https://secwatch.observer/filing/0001437749-23-024343.txt

## Key facts
- M&A Transactions
  WRAP TECHNOLOGIES, INC. completed an acquisition involving Intrensic, LLC for $553,588 in cash; and 1,250,000 shares of the Company’s common stock (closed 2023-08-16).
  - Action: acquisition
  - Counterparty: Intrensic, LLC
  - Consideration: $553,588 in cash; and 1,250,000 shares of the Company’s common stock
  - Closing: 2023-08-16
  source text: the Company entered into a Membership Interest Purchase Agreement, dated as of August 9, 2023 (the “ Purchase Agreement ”), and the members of Intrensic, LLC, a Delaware limited liability company (“ Intrensic ”), including Kevin Mullins, the Company’s Chief Executive Officer (collectively, “ Sellers ”), and Buford Ortale, as Sellers’ Representative, pursuant to which the Company agreed to purchase, and Sellers agreed to sell, all of the Membership Interest of Intrensic for a total purchase price of: (i) $553,588 in cash; and (ii) 1,250,000 shares of the Company’s common stock, par value $0.0001 (“ Common Stock ”) (collectively, the “ Purchase Price ”) (the “ Acquisition ”). The Acquisition was consummated on August 16, 2023 (the “ Closing Date ”) in accordance with the terms of the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1702924/000143774923024343/0001437749-23-024343-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.