Business Context and Reporting Period
Company: WRAP TECHNOLOGIES, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: June 30, 2025
Reporting Period: Event-based report regarding agreements entered into on June 30, 2025.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on the amendment of existing warrant agreements.
Material Changes
The Company entered into two material definitive agreements on June 30, 2025, amending terms for existing warrant holders:
- Series A Warrant Amendment: Amended the definition of "Black Scholes Value" to include the sum of cash and non-cash consideration in a Fundamental Transaction. In consideration, the warrant term was extended to 6.5 years from the date of issuance.
- 2025 Warrant Amendment: Similarly amended the "Black Scholes Value" definition for 2025 Investors. In consideration, the warrant term was extended to 5.5 years from the date of issuance.
Guidance, Outlook, and Risks
Management Commentary: The filing references previous disclosures regarding the original Series A Purchase Agreement (June 29, 2023) and the 2025 private placement (February 24, 2025). No forward-looking guidance or outlook is provided in this specific report.
Risks and Contingencies: The filing notes that the descriptions of the amendments are qualified by the full text of the agreements attached as Exhibits 10.1 and 10.2. No specific new risks or contingencies are detailed beyond the terms of the amendments.
Investor Verification Checklist
- Review Exhibit 10.1 (Series A Warrant Amendment) for the precise legal definition of the adjusted "Black Scholes Value."
- Review Exhibit 10.2 (2025 Warrant Amendment) for the precise legal definition of the adjusted "Black Scholes Value."
- Verify the original issuance dates of the Series A and 2025 Warrants to calculate the new expiration dates (6.5 and 5.5 years, respectively).
- Confirm the identity of the "Required Holders" and "2025 Investors" who consented to these amendments.