- **Wrap Technologies** expanded its Board of Directors to **six members** with the appointment of **John D. Shulman**, Founder and Managing Partner of **Juggernaut Capital Partners**.  **[1702924_50fac6be5071471b9b555af0de289a1c_0]** 
- **John D. Shulman** founded **Juggernaut Capital Partners** in **2009**, a firm with over **$1 billion in assets under management**, and brings over **25 years of private investment experience** to the Board.  **[1702924_50fac6be5071471b9b555af0de289a1c_1]** 
- **Jerry Ratigan** mutually agreed to separate from his roles as Chief Financial Officer, Principal Accounting Officer, and Principal Financial Officer, effective **October 24, 2025**.  **[1702924_50fac6be5071471b9b555af0de289a1c_0]** 
- **Scot Cohen**, Wrap's Chief Executive Officer, has resumed the roles of Principal Financial Officer and Principal Accounting Officer, positions he previously held.  **[1702924_50fac6be5071471b9b555af0de289a1c_0]**

Wrap Technologies Appoints John Shulman to Board and Announces CFO Departure

- WRAP Technologies, Inc. entered into a Securities Purchase Agreement on **August 18, 2025**, to sell **4,500 shares of newly-designated Series B Convertible Preferred Stock** with a stated value of **$1,000 per share**.  **[1702924_0001641172-25-025536_form8-k.htm:0]** **[1702924_0001641172-25-025536_ex3-1.htm:3]** 
- The Series B Preferred Stock is initially convertible into up to **3,000,000 shares of common stock** at an initial conversion price of **$1.50 per share**, subject to stockholder approval.  **[1702924_0001641172-25-025536_form8-k.htm:0]** **[1702924_0001641172-25-025536_ex3-1.htm:5]** 
- The agreement also includes accompanying **warrants to purchase up to 3,000,000 shares of Common Stock** at an initial exercise price of **$1.50 per share**.  **[1702924_0001641172-25-025536_form8-k.htm:0]**

WRAP TECHNOLOGIES (WRAP)