2023-06-30 08:23:18 ET
- Public safety solutions company Wrap Technologies ( NASDAQ: WRAP ) said on Friday that it is set to raise ~$10M in a registered direct offering of convertible preferred stock and warrants.
- The company has executed a securities purchase agreement with certain of its directors and accredited and institutional investors .
- The agreement involves sale of preferred stock with a conversion price of $1.45 per share and warrants to acquire up to 6.9M additional shares.
- The warrants are exercisable six months after issuance at $1.45 per share.
- The offering is expected to close on July 3.
- WRAP shares were trading +2.76% pre-market.
- Source: Press Release
For further details see:
Wrap Technologies launches ~$10M registered direct offering