Wrap Technologies amends Series A Preferred terms to pay stock dividends; cash payment optional for July dividend

WRAP TECHNOLOGIES, INC.

Series A Preferred delinquent July 1, 2024 dividend can be paid at company's option in cash or stock at lower of $1.00 or Dividend Conversion Price per share.
October 1, 2024 dividend must be paid in stock at 80% of the average of the three lowest closing prices in September 2024.
Certificate of Designations amended to allow stock dividends to directors/officers/employees if shareholder-approved, and to modify mandatory conversion/reemption conditions.
Amended definition of Excluded Securities in the Purchase Agreement, expanding permissible issuances after certain conditions.
Delinquent dividends and any related Dividend Balance Shares to be delivered on October 1, 2024; Pre-Dividend Shares due 21 trading days prior.

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