secwatch.observer — SEC 8-K summary
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Issuer:     WRAP TECHNOLOGIES, INC. (WRAP)
CIK:        0001702924
Form:       8-K
Filed at:   2025-08-18T23:59:59+00:00
Accession:  0001641172-25-024642
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702924/000164117225024642/0001641172-25-024642-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702924/000164117225024642/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-024642

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