Core Insights - Wrap Technologies has appointed Stephen M. Renna as a Strategic Advisor to enhance international expansion and focus on exporting "Made in USA" public safety services [3][5] - Renna's extensive experience includes managing a $50 billion portfolio at the U.S. Export-Import Bank (EXIM) and facilitating over $147 billion in global contracts for U.S. firms [4][5] - The company aims to leverage U.S. government financing strategies to counter Chinese influence in emerging markets through initiatives like the China and Transformational Exports Program (CTEP) [6] Company Strategy - The appointment of Renna is part of Wrap's strategy to transform the deployment of U.S. safety technologies globally, enhancing competitiveness and creating strategic advantages for U.S.-made solutions [5] - Wrap has seen strong international interest, with potential purchases in the final stages, indicating a robust pipeline for its products [5] - The company plans to utilize financing solutions to deepen its value proposition while aligning with U.S. strategic interests [5] Product Offerings - Wrap Technologies is recognized for its innovative public safety solutions, including the BolaWrap, which provides a non-lethal method for compliance [10] - The company also offers Wrap Reality™ VR, a training simulator for first responders, and Wrap Intrensic, an advanced body-worn camera system for evidence management [11][12] - These products are designed to enhance safety and efficiency in law enforcement, with the BolaWrap being used by over 1,000 agencies across the U.S. and in 60 countries [10]

Core Viewpoint - Wrap Technologies, Inc. will hold a conference call on March 31, 2025, to discuss its financial and operational results for Q4 and the full year ended December 31, 2024 [1][2]. Company Overview - Wrap Technologies, Inc. is a global leader in public safety solutions, integrating advanced technology with skilled personnel to tackle modern public safety challenges [3]. Product Offerings - The BolaWrap® solution is a non-lethal device designed to safely restrain individuals from a distance, allowing officers to manage non-compliant situations without resorting to higher-force options. It is used by over 1,000 agencies in the U.S. and 60 countries [4]. - Wrap Reality™ VR is an immersive training simulator that enhances decision-making for first responders by providing realistic scenarios that reflect modern law enforcement challenges [5]. - The Intrensic solution is an advanced body-worn camera and evidence management system that ensures the integrity and compliance of digital evidence, streamlining operations for law enforcement [6].

Core Viewpoint - Wrap Technologies, Inc. has appointed Joseph R. Bonavolonta as Domestic Head of Managed Services, leveraging his extensive experience from the FBI to enhance the company's global law enforcement network and security capabilities [1][3]. Group 1: Leadership and Experience - Joseph R. Bonavolonta brings over 27 years of experience from the FBI, culminating as Special Agent in Charge of the Boston Field Office, where he oversaw significant criminal and national security investigations [2]. - His leadership roles included managing Joint Terrorism Task Forces and directing the New England Region's Domestic Director of National Intelligence Program [2][5]. - Prior to joining Wrap, he served as Managing Partner at a global security firm, providing strategic security solutions for multinational corporations and critical institutions [4]. Group 2: Strategic Goals and Impact - In his new role, Bonavolonta is expected to drive growth and deepen Wrap's global law enforcement network, enhancing the company's mission to provide innovative, non-lethal public safety solutions [3][6]. - His connections within the law enforcement community and international security networks are anticipated to solidify Wrap's global relationships, strengthening its impact in law enforcement and risk mitigation [6]. Group 3: Complementary Expertise - Bonavolonta's addition is expected to complement the expertise gained from Wrap's recent acquisition of W1 Global, LLC, enhancing the company's security, technology, and investigative capabilities [7]. - He joins James DeStefano, a retired FBI executive, to further bolster Wrap's ability to deliver comprehensive technology security solutions to law enforcement agencies and commercial clients [8]. Group 4: Company Overview and Solutions - Wrap Technologies, Inc. is recognized as a global leader in public safety solutions, combining advanced technology with skilled personnel to address modern public safety challenges [9]. - The company's BolaWrap solution offers a non-lethal method for compliance, used by over 1,000 agencies across the U.S. and in 60 countries, emphasizing its commitment to public safety through innovative technology [10]. - Wrap Reality™ VR serves as an immersive training simulator for first responders, enhancing decision-making under pressure with realistic scenarios [11]. - The Intrensic solution is an advanced body-worn camera and evidence management system designed for efficiency and transparency in law enforcement operations [12][13].

Core Viewpoint - Wrap Technologies, Inc. is poised to capitalize on U.S. government efficiency initiatives by consolidating public safety technology, delivering cost savings, and reforming training solutions under the leadership of newly appointed President and COO Jared Novick [1][5]. Company Developments - Jared Novick has been promoted to President and COO, with expectations to launch efficiency-driven public safety offerings for law enforcement and federal agencies [1]. - The company has relocated its manufacturing headquarters to Virginia, enhancing its pursuit of U.S. Federal government contracts [1]. - Wrap's recent acquisition of W1 Global, LLC positions the company to identify inefficiencies and optimize public safety strategies for federal agencies [5][9]. Strategic Focus - Wrap aims to provide integrated technology solutions to streamline operations and reduce costs for federal, state, and local governments [2][5]. - The company plans to leverage established public-private partnership frameworks to implement efficient training solutions and advanced technologies [5]. - Wrap is strategically focusing on building relationships in Washington, D.C. to enhance its federal business expansion [6]. Leadership and Expertise - Jared Novick brings extensive experience from his career in U.S. Intelligence Agencies and as a successful entrepreneur, uniquely positioning him to lead Wrap's growth in public safety technology [8][10]. - His investment in Wrap through an affiliated partnership demonstrates his commitment to the company's long-term vision [3][4]. Product Offerings - Wrap's BolaWrap solution provides a non-lethal method for law enforcement to gain compliance, used by over 1,000 agencies in the U.S. and 60 countries [13]. - The Wrap Reality™ VR training simulator enhances decision-making for first responders through realistic scenarios [14]. - The Intrensic body-worn camera system is designed for efficiency and compliance in evidence management [15][16].

Core Viewpoint - Wrap Technologies has executed a securities purchase agreement for a private placement, raising approximately $5.8 million through the sale of 3,216,666 shares of common stock at $1.80 per share, along with warrants for the same number of shares [1][2]. Financing Highlights - The private placement is subject to customary closing conditions and is expected to close around February 28, 2025 [2]. - The net proceeds from the offering will be utilized for working capital and general corporate purposes [2]. - The securities were sold in transactions exempt from registration requirements under the Securities Act, relying on specific exemptions [4]. Company Overview - Wrap Technologies is a global provider of advanced public safety solutions, focusing on innovative technology and comprehensive services to enhance public safety [6]. - The company's flagship product, BolaWrap, is a remote restraint device designed to safely restrain individuals from a distance, aiming to prevent escalation and save lives [7]. - Wrap Reality™ is an advanced virtual reality training system that prepares first responders for real-life scenarios, enhancing their ability to manage conflicts and apply appropriate measures [8]. Investment and Market Strategy - The majority of the investment in the private placement comes from partnerships affiliated with insiders and existing investors, supporting the go-to-market strategy for BolaWrap and Managed Safety and Response (MSR) [9]. - The funding will accelerate the company's commitment to delivering Made-in-America public safety solutions and enhance training and customer support for BolaWrap programs [9].

Core Insights - Wrap Technologies has completed the acquisition of W1 Global, enhancing its capabilities in Managed Safety and Response (MSR) services and expanding its international reach [1][2][4] Group 1: Acquisition Details - The acquisition of W1 Global is expected to increase Wrap's access to a skilled team with expertise in international criminal investigation and compliance [2][4] - This transaction is anticipated to create an end-to-end ecosystem with two key business lines: comprehensive MSR solutions and tech-enabled professional services [5][6] Group 2: Strategic Implications - The acquisition positions Wrap for international expansion by leveraging W1's global network and expertise in investigative services [4][5] - Wrap aims to access a deep talent pool as individuals transition from government roles, marking the beginning of strategic talent acquisitions to meet market demands [3][4] Group 3: Leadership and Expertise - The professional services will be led by Bill McMurry, a former FBI Supervisory Special Agent, bringing extensive law enforcement experience [7] - Managed Safety and Response will be overseen by Jim DeStefano, who has a background in crisis response and special operations [7] Group 4: Client Demand and Market Position - There is a strong appetite among Wrap's international clients for investigative services, while W1 Global's clients are interested in Wrap's technology solutions like BolaWrap and drones [5][6] - The strategic combination of both companies is expected to drive growth and enhance client support by meeting the demand for integrated safety and technology-driven services [5][6]

Core Viewpoint - Wrap Technologies has launched its Managed Safety and Response (MSR) Connected Ecosystem in Virginia, aiming to modernize law enforcement training and safety solutions, with support from Governor Glenn Youngkin and local public safety institutions [1][7]. Group 1: Product and Service Offerings - The MSR Connected Ecosystem integrates enhanced training, automated support systems, and a scalable platform to meet the needs of law enforcement agencies [2][3]. - The ecosystem includes AI-powered reporting for body-worn cameras, a Drone as First Responder (DFR) program, and comprehensive VR training expansion to improve officer training and operational effectiveness [6][11]. - Wrap's BolaWrap solution is designed to safely restrain individuals from a distance, aiming to reduce escalation and enhance officer safety [10]. Group 2: Strategic Vision and Commitment - The company is focused on addressing the challenges faced by law enforcement in adopting new technologies and ensuring officers receive adequate training and resources [4][5]. - Wrap aims to simplify the adoption of its technologies by providing a fully managed service that consolidates fragmented tools into a cohesive solution, thereby enhancing officer safety and effectiveness [4][5]. - The commitment to a TAA-compliant, non-Chinese supply chain for body cameras emphasizes the company's focus on secure and reliable technology for law enforcement [6]. Group 3: Market Position and Future Outlook - The relocation of Wrap's facility to Southwest Virginia aligns with the state's goal to leverage innovative technologies for public safety, setting a new standard in law enforcement practices [7]. - The MSR Connected Ecosystem is designed to reduce cognitive load for officers, transforming their operational capabilities in critical situations [8]. - Wrap Technologies is positioned as a leading provider of advanced public safety solutions, integrating modern technology to address contemporary challenges faced by public safety organizations [9].

Core Insights - Wrap Technologies, Inc. has relocated its manufacturing and distribution facility to Virginia, emphasizing the state's strategic location and commitment to public safety innovation [1][4] - The new facility will centralize the production of key products like BolaWrap® and Wrap Reality™, enhancing the company's ability to provide comprehensive public safety solutions [2][6] Company Developments - The new 20,000-square-foot facility will serve as a cornerstone for Wrap's next-generation strategy, focusing on training, talent development, and customer support for law enforcement agencies [2][6] - The initiative is supported by a $4.1 million project from the Virginia Economic Development Partnership, highlighting the region's emerging status as a hub for law enforcement expertise [4][5] Product Innovations - Wrap's BolaWrap® is a patented remote restraint device designed to safely restrain individuals from a distance, aiming to mitigate risks and save lives [9] - Wrap Reality™ is an immersive virtual reality training platform that prepares first responders for real-world challenges, focusing on de-escalation tactics and appropriate use-of-force measures [10] Economic Impact - The relocation is expected to create over 120 new jobs in Virginia, leveraging the local talent pool and enhancing public safety outcomes [5][6] - Wrap Technologies aims to be the leading "Made-in-America" supplier for public safety, offering end-to-end solutions that include hardware, software, and training programs [6]

Core Points - Wrap Technologies, Inc. has issued a notice advising that the news release regarding their new strategy and facility in Virginia should be disregarded [1] Company Summary - The company had previously announced a go-forward strategy focused on public safety and defense solutions [1]

WISE, Va., Nov. 22, 2024 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or the “Company”), a global leader in public safety solutions, announced today the relocation of its manufacturing and distribution facility to Virginia, citing Virginia's strategic location and commitment to invest in public safety innovation as key factors in its decision. This move underscores Wrap's commitment to delivering comprehensive tools and training for law enforcement. It also highlights Wrap's dedication ...