secwatch.observer — SEC 8-K summary
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Issuer:     WRAP TECHNOLOGIES, INC. (WRAP)
CIK:        0001702924
Form:       8-K
Filed at:   2024-12-02T23:59:59+00:00
Accession:  0001437749-24-036487
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wrap Tech amends Series A Preferred to accrue 20% dividend on trigger; issues 856K shares
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- Wrap amended Series A Preferred terms on Nov 25, 2024 with required holders including Iroquois Master Fund.
- Upon a Triggering Event, Preferred dividends accrue at 20% per annum compounded monthly.
- Accrued unpaid payments as of Nov 25 satisfied by issuing 856,109 shares of common stock.
- Series A Preferred $1,000 stated value originally issued June 2023 under Securities Purchase Agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702924/000143774924036487/0001437749-24-036487-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702924/000143774924036487/wrap20241202_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-036487

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