Wrap Technologies, Inc. Announces Largest BolaWrap Order in Company History

TEMPE, Ariz., Dec. 27, 2023 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the “Company”), a global leader in innovative public safety and private security solutions, proudly announces a landmark milestone in its history, having received a $4.9 million BolaWrap order for the fourth quarter of 2023. This deal represents the largest order in Company history and signifies the first step in what the Company anticipates will be a large global deployment opportunity for WRAP’s solution set in 2024.

Today’s news demonstrates the potential demand for WRAP's groundbreaking BolaWrap device, a non-lethal restraint solution designed to assist law enforcement in safely apprehending individuals without causing harm. The order, placed by a Company distributor, is a testament to the increasing recognition of BolaWrap's efficacy and the growing importance of less-lethal alternatives in modern law enforcement.

"We are thrilled to announce this $4.9 million BolaWrap order, which represents not only the largest order in the history of Wrap Technologies, but also a pivotal moment in the broader adoption of our innovative public safety solutions," said Kevin Mullins, CEO of Wrap Technologies. "This commitment from our customer is a significant validation of the value and impact of our solutions.”

The order is expected to also support WRAP's ongoing efforts to scale its production infrastructure, accelerate research and development initiatives, and enhance customer support.

WRAP Technologies encourages investors, stakeholders, and the public to stay tuned for further updates and developments as the company continues to make strides in revolutionizing public safety technology.

About Wrap

Wrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating ultramodern technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships. Driving safer outcomes, empowering public safety and communities to move forward together.