Wrap Technologies raises $4.5M via Series B preferred and warrants for counter-drone tech

WRAP TECHNOLOGIES, INC.

• Gross proceeds of $4.5M from sale of 4,500 Series B preferred shares ($1,000 stated value) and warrants to buy 3M shares at $1.50.
• Preferred shares initially convertible into up to 3M common shares at $1.50; warrants exercisable at $1.50 for 5 years after stockholder approval.
• Stockholder approval required for conversion/exercise above 19.99% of outstanding common and to increase authorized shares.
• Proceeds to advance Wrap-Merlin and Wrap-PANDA counter-UAS programs and dual-use go-to-market strategy.
• Closing expected August 19, 2025; registration rights agreement filed with SEC within 60 days.