Attached files
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| EX-99.1 - PRESS RELEASE - WRAP TECHNOLOGIES, INC. | ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): December 14, 2017
WRAP TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its Charter)
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Delaware
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000-55838
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98-0551945
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(State
or other jurisdiction
of
incorporation)
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(Commission File
No.)
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(IRS
Employer
Identification
No.)
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4620 Arville
Street, Suite. E, Las Vegas, Nevada 89103
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(Address of
principal executive offices)
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(800)
583-2652
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(Registrant’s
Telephone Number)
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Not
Applicable
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(Former
name or address, if changed since last report)
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Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
☐
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR 240.12b-2) ☒
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act ☐
Item 8.01
Other Events
Closing of the Company’s Initial Public Offering
On December 14, 2017, Wrap Technologies, Inc. (the
“Company”) announced the final closing under the
initial public offering of the Company’s common stock, par
value $0.0001 per share (“Common
Stock”), that began on
August 16, 2017 (“IPO”). Shares of Common Stock sold over the
course of the IPO were registered under the Securities Act of 1933,
as amended (the “Securities
Act”), pursuant to the
Company’s effective Registration Statement on Form S-1 (File
No. 333-217340) and the Prospectus contained therein. In connection
with the closing of the IPO, the Company filed a Post-Effective
Amendment No. 1 to Form S-1 in order to deregister the remaining
338,133 shares of Common Stock that were not issued under the
Registration Statement.
In total, the Company sold 2,328,533 shares of
Common Stock at a public offering price of $1.50 per share during
the IPO. In addition, as additional consideration for the purchase
of 666,667 shares of Common Stock by Iroquois Master Fund, Ltd. and
Iroquois Capital Investment Group, LLP (collectively
“Iroquois”), the Company granted to Iroquois an
irrevocable right to appoint one independent director to the
Company’s Board of Directors on or before December 1,
2018.
Over
the course of the IPO, the Company has received gross proceeds of
approximately $3.49 million, before deducting offering expenses.
The Company intends to use the proceeds from the IPO for production
of BolaWrap™100 products, sales and marketing expense,
research, development and general corporate expense.
On
December 14, 2017, the Company issued a press release announcing
the closing of the IPO. A copy of the press release is attached
hereto as Exhibit 99.1, and is incorporated by reference
herein.
Item 9.01
Financial Statements and Exhibits
See
Exhibit Index.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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WRAP TECHNOLOGIES, INC.
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Date:
December 14, 2017
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By:
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/s/ James A.
Barnes
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James
A. Barnes
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President
and Chief Financial Officer
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Exhibit Index
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Exhibit No.
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Description
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Press
Release issued by Wrap Technologies, Inc., dated December
14, 2017.
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