Wrap Technologies Inc - WRAP STOCK NEWS

Wrap Technologies (NASDAQ: WRAP) has appointed Robert Heuchling as Managing Director, bringing over 15 years of FBI experience to enhance the company's managed services offering. Heuchling, who previously supervised foreign corruption and money laundering investigations in New York City, will work alongside former FBI colleague and current Chief Executive Officer of Managed Services, Bill McMurry.

Together, they led the landmark 1MDB investigation, which recovered over $4.5 billion in stolen assets - the largest recovery in U.S. Department of Justice history. The company plans to leverage their expertise to develop technology solutions for complex financial crimes, cyber threats, and transnational law enforcement challenges.

Heuchling's background includes service as an engineer and communications officer in the U.S. Navy. His accolades include the Assistant Attorney General's Exceptional Service Award, FBI Medal of Excellence, and Naval Commendation Medal.

Wrap Technologies (NASDAQ: WRAP) has appointed Stephen M. Renna as Strategic Advisor to spearhead international growth and financing strategy. Renna, former Chief Banking Officer at U.S. Export-Import Bank (EXIM), brings over 35 years of executive experience and will focus on expanding Made-in-USA exports through government resources.

At EXIM, Renna managed a $50 billion portfolio and $40 billion pipeline. His previous role as Head of The Advocacy Center at U.S. Department of Commerce resulted in wins on over 200 projects valued at $147 billion. At Wrap, he will leverage programs like EXIM Bank and Department of Defense Office of Strategic Capital to expand the company's international reach for BolaWrap and Managed Safety and Response (MSR) services.

The appointment aligns with the China and Transformational Exports Program (CTEP), aiming to counter Chinese influence in emerging markets through competitive financing in strategic sectors including public safety, AI, and communications.

Wrap Technologies (NASDAQ: WRAP) has scheduled its fourth quarter and full year 2024 financial results conference call for Monday, March 31, 2025, at 4:30 p.m. Eastern Time. The company's management will host the presentation followed by a Q&A session.

Shareholders and interested parties can submit questions to ir@wrap.com by March 28, 2025, at 5:00 p.m. Eastern Time. Questions will be selected based on relevance to company strategy, execution, stockholder base, and public disclosure requirements.

The earnings press release and related materials will be available in the Investors section of Wrap's website.

Wrap Technologies (NASDAQ: WRAP) has appointed Joseph R. Bonavolonta as Domestic Head of Managed Services, bringing 27 years of FBI experience to the company. Bonavolonta, former Special Agent in Charge of the FBI's Boston Field Office, will assist in driving growth and expanding Wrap's global law enforcement network.

His extensive background includes overseeing high-profile criminal and national security investigations, managing Joint Terrorism Task Forces, and directing the New England Region's Domestic Director of National Intelligence Program. Prior to joining Wrap, he served as Managing Partner at a global security firm.

This strategic appointment follows Wrap's recent W1 Global, acquisition and complements the expertise of James DeStefano, a retired FBI executive. The combined experience is expected to enhance Wrap's delivery of technology security solutions to law enforcement agencies, commercial clients, and high-net-worth individuals globally.

Wrap Technologies (NASDAQ: WRAP) has appointed Jared Novick as President and Chief Operating Officer, marking a strategic shift in the company's direction. The announcement comes following Wrap's relocation of its manufacturing headquarters to Virginia and plans to establish offices near Washington, D.C., positioning the company to pursue U.S. Federal government contracts.

Novick, who recently made a significant investment of 275,000 shares and warrants through an affiliated partnership, aims to lead Wrap's expansion into efficiency-driven public safety offerings. The company plans to focus on technology consolidation in public safety, leveraging its recent W1 Global acquisition to help federal agencies optimize strategies and reduce costs.

With Novick's extensive background in U.S. Intelligence Agencies and defense contracting, Wrap is positioning itself to expand internationally through Beltway networks and plans to work with U.S. government organizations facilitating global exports. The company's strategy includes aligning its offerings with government contracting requirements and pursuing prime and sub-contracts.

Wrap Technologies (NASDAQ: WRAP) has secured a $5.8 million private placement through the sale of securities to affiliated investment partnerships and institutional investors. The deal includes 3,216,666 shares of common stock at $1.80 per share and accompanying warrants to purchase an equal number of shares, exercisable at $1.80 per share with a five-year expiration.

The private placement, expected to close around February 28, 2025, will primarily fund working capital and general corporate purposes. The proceeds will support the company's go-to-market strategy for BolaWrap and Managed Safety and Response (MSR) Connected Ecosystem, strengthen its Made-in-America initiatives, establish a Washington, DC presence, and enhance training and customer support programs.

The majority investment comes from insiders and existing investors, with the securities being offered under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, exempt from registration requirements.

Wrap Technologies (NASDAQ: WRAP) has completed the acquisition of W1 Global, a professional services firm led by former law enforcement and U.S. Intelligence Community professionals. The acquisition aims to expand Wrap's Managed Safety and Response (MSR) Connected Ecosystem and enhance its professional services offerings.

The merged leadership team includes notable figures: Bill McMurry, a retired FBI Supervisory Special Agent, will lead Professional Services; Jim DeStefano, former Assistant Special Agent, will head Managed Safety and Response; and Ric Bachour, a former DEA leader, will support Investigative services.

The acquisition is expected to drive immediate revenue growth, be accretive, and create synergies with Wrap's existing business, including the BolaWrap program. The merger creates an end-to-end ecosystem combining W1's investigative expertise with Wrap's technology solutions, positioning the company for international expansion through W1's global network.

Wrap Technologies (NASDAQ: WRAP) has launched its Managed Safety and Response (MSR) Connected Ecosystem in Virginia, introducing an integrated approach to law enforcement training and safety solutions. The initiative, supported by Governor Glenn Youngkin, positions Virginia as an early adopter of next-generation policing solutions.

The MSR Connected Ecosystem features several key components:

• TAA-compliant, non-Chinese body cameras
• AI-powered reporting system for incident documentation
• Drone as First Responder (DFR) program
• Advanced defensive tactics training
• Connected training with in-person instruction
• Comprehensive VR training expansion

The system aims to consolidate fragmented technologies into a cohesive solution, addressing agencies' challenges in adopting new technologies and ensuring proper training integration. The initiative follows Wrap's facility relocation to Southwest Virginia, demonstrating the company's commitment to enhancing public safety through innovative technology solutions.

Wrap Technologies (NASDAQ: WRAP) announced the relocation of its manufacturing and distribution to a new 20,000-square-foot facility in Virginia. The $4.1 million project, supported by Governor Youngkin and VEDP, will create over 120 new jobs and centralize production of BolaWrap® and Wrap Reality™. The facility will include R&D zones for AR/VR and integrated public safety devices, alongside a professional services division focused on training and customer support. With over 40 partner agencies in Virginia, Wrap aims to expand its 'Made-in-America' partnerships and advance end-to-end public safety solutions.