Wrap Technologies Inc Stock Price, News & Analysis

Wrap Technologies (Nasdaq: WRAP) announced that the Princeton Police Department will utilize its WRAP Reality Virtual Training Platform for law enforcement training. This platform provides immersive training scenarios focusing on skills like de-escalation and community policing. The virtual training market is expected to grow from $204.41 billion in 2019 to $601.85 billion by 2027. The collaboration aims to enhance officer preparedness and improve critical decision-making skills, marking a significant step in modern police training.

Wrap Technologies, Inc. (WRAP) will hold its virtual 2021 annual meeting of stockholders on June 22, 2021, at 9:00 A.M. PT. Stockholders as of April 26, 2021, can attend via a provided link or phone. Voting and proxy submissions are encouraged before the 5:00 P.M. PT deadline on June 21, 2021. The company emphasizes participation and has made details available through its proxy statement filed on April 30, 2021. Wrap Technologies is known for its innovative public safety solutions, including the BolaWrap device and WRAP Reality training system.

Wrap Technologies, Inc. (Nasdaq: WRAP) announced that the exercise period for warrants from its 2019 offering has expired as of June 18, 2021. Out of 2,076,922 warrants issued, approximately 99.9% were exercised, generating around $12.5 million in proceeds, with $12.05 million received in the current fiscal quarter. CFO James Barnes indicated that the capital will support sales growth, product development, and operational costs. The cancellation of the unexercised warrants will remove future dilutive effects on WRAP's public float.

On June 17, 2021, Wrap Technologies, Inc. (WRAP) announced a successful BolaWrap deployment by the Defiance, Ohio Police Department that helped prevent a potential suicide by cop incident. The BolaWrap allowed officers to safely restrain an armed subject without escalating to higher levels of force. This was the third deployment involving BolaWrap by the Department, highlighting its effectiveness in crisis situations. Over 500 agencies in the U.S. and 44 countries are currently testing and using the BolaWrap, emphasizing its growing adoption in public safety.

Wrap Technologies, Inc. (WRAP) announced its participation in the virtual Restraint & Safety International Conference on June 17, 2021. WRAP President & CEO Tom Smith will discuss the BolaWrap® Remote Restraint device, highlighting its effectiveness in non-violent restraint, particularly in healthcare settings. This innovative tool has been adopted by police across multiple states, minimizing risks during confrontations. The conference features experts from the US, UK, Israel, and Australia, focusing on safer restraint methods.

On June 11, 2021, Wrap Technologies, Inc. (WRAP) demonstrated its BolaWrap technology to the Miami Police Department, showcasing its non-lethal capabilities for apprehending suspects. Miami Mayor Francis Suarez experienced the BolaWrap firsthand during a demonstration at City Hall, emphasizing the importance of humane policing tactics. Chief Art Acevedo highlighted that the BolaWrap is not a weapon, but a tool designed to subdue without causing harm. WRAP's BolaWrap is currently in use across over 500 U.S. agencies and 44 countries, signaling significant adoption in public safety solutions.

TEMPE, Ariz., June 10, 2021 – Wrap Technologies (Nasdaq: WRAP) announced the successful deployment of its BolaWrap® Remote Restraint device by the New Kent County Sheriff’s Office in Virginia during a crisis intervention. On April 29, 2021, officers used the device to safely restrain a subject experiencing a mental health crisis without harm, emphasizing the effectiveness of BolaWrap in preventing escalation. The incident highlighted the company's commitment to public safety and the positive impact of its technology in emergency situations.

Wrap Technologies (WRAP) announced the approval of its BolaWrap remote restraint device for sale in Italy, alongside a pilot program extension with LAPD set for Q3 2021. The company reported a significant 123% year-over-year revenue growth for Q1 2021, attributed to strong demand both in the U.S. and internationally. CEO Tom Smith is scheduled to present at the Lytham Partners Summer 2021 Investor Conference from June 14-16, detailing the company's initiatives and financial results.

Wrap Technologies, Inc. (WRAP) recently reported a successful BolaWrap deployment by the Tempe Police Department, capturing the incident on bodycam footage. On May 28, 2021, officers restrained a subject posing a danger while armed with a stun gun without injuries. Chief of Police Jeffrey Glover highlighted the importance of the BolaWrap in de-escalation efforts, especially when dealing with individuals in crisis. Tom Smith, CEO of WRAP, expressed confidence in the BolaWrap's effectiveness as a non-forceful alternative for law enforcement. The footage is available for public viewing.