secwatch.observer — SEC 8-K summary
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Issuer:     WRAP TECHNOLOGIES, INC. (WRAP)
CIK:        0001702924
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001437749-23-024343
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702924/000143774923024343/0001437749-23-024343-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702924/000143774923024343/wrap20230818_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-024343

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer