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Wrap Technologies, Inc. (NASDAQ:WRAP), a small-cap technology company with a market capitalization of $78.39 million, announced Monday it has amended the terms of certain outstanding warrants held by investors. According to InvestingPro data, the company currently maintains a weak financial health score, with negative EBITDA of $12.96 million in the last twelve months. According to a press release statement based on the company’s recent SEC filing, the changes were made on June 30, 2025, and affect both Series A Warrants and 2025 Warrants previously issued in connection with prior securities purchase agreements.
The company entered into a warrant amendment with the required holders of its Series A Warrants, adjusting the definition of “Black Scholes Value” used in the calculation of the warrants’ underlying price per share. The revised calculation now includes the cash price per share offered in any applicable fundamental transaction, as well as the value of any non-cash consideration. In consideration for these changes, the term of the Series A Warrants has been extended to six and one-half years from the date of issuance.
Wrap Technologies also amended the terms of certain 2025 Warrants held by investors from a private placement completed on February 24, 2025. The definition of “Black Scholes Value” for these warrants was similarly adjusted to reflect both cash and non-cash consideration in fundamental transactions. The expiration period for these 2025 Warrants has been set at five and one-half years from the date of issuance.
The company stated that the descriptions of the amendments are qualified in their entirety by the full text of the warrant amendment agreements, which were included as exhibits to the SEC filing.
Wrap Technologies, Inc. is incorporated in Delaware and its common stock is listed on the Nasdaq Capital Market under the symbol WRAP. The information in this article is based on a press release statement and the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Wrap Technologies reported its Q1 2025 earnings, showcasing a revenue of $765,000 and a slight decrease in net income to $109,000 from $117,000 in the same quarter the previous year. The company highlighted significant improvements in margins, which rose to 77.8%, and an increase in cash reserves to $6.2 million. Wrap Technologies is focusing on international expansion, particularly in Chile, where full deployment with the Chilean Carabineros is anticipated. Additionally, the company appointed Jerry Ratigan as its new Chief Financial Officer, bringing over 20 years of financial leadership experience. The company is also positioning its BolaWrap device as a solution for law enforcement following a Supreme Court ruling that broadens officer accountability in use-of-force cases. Wrap Technologies has filed federal trademark applications for "Pre-Escalation" and "WrapWindow" to establish a new standard in use-of-force decision-making. Furthermore, the company plans to scale its programs, including WrapPlus and WrapTactics training, to meet growing demand. Analyst firms have not provided any recent upgrades or downgrades for Wrap Technologies.
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