Wrap Technologies amends Series A Preferred terms, sets 20% monthly compounded dividend upon trigger

WRAP TECHNOLOGIES, INC.

Certificate of Amendment filed Dec 6, 2024: Series A Preferred dividends accrue at 20% per annum compounded monthly on Triggering Event.
Accrued dividends and payments through Nov 25, 2024 settled via common stock issuance to Series A investors.
Amendment modifies Certificate of Designations originally filed July 2023; full terms in Exhibit 3.1.
Triggering Event definition remains per original Certificate of Designations; no new triggers disclosed.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

WRAP TECHNOLOGIES, INC.: Amended Certificate of Designations to provide that upon a Triggering Event, Series A Preferred Stock will accrue dividends compounded monthly at 20% per annum (effective 2024-12-06).

Change: charter amendment
Effective: 2024-12-06

Exact text from the filing

On December 6, 2024, the Company filed the Certificate of Amendment with the Secretary of State, thereby amending the Certificate of Designations to provide that upon the occurrence of a Triggering Event (as defined in the Certificate of Designations), the Series A Preferred Stock will accrue dividends compounded monthly at the rate of 20% per annum.

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WRAP TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-036977

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