Wrap Technologies (NASDAQ:WRAP) has executed a securities purchase agreement to raise approximately $10 million in a registered direct offering of convertible preferred stock and warrants. The offering is expected to close on July 3, 2023. The preferred stock will have a stated value of $1,000 per share, with holders entitled to cumulative dividends of 8% per annum. The warrants are exercisable six months after issuance at an exercise price of $1.45 per share.