Scot Cohen - 05 Jul 2023 Form 4 Insider Report for WRAP TECHNOLOGIES, INC. (WRAP)

Role
Director, 10%+ Owner
Signature
/s/ Scot Cohen
Issuer symbol
WRAP
Transactions as of
05 Jul 2023
Net transactions value
$0
Form type
4
Filing time
07 Jul 2023, 14:29:53 UTC
Previous filing
05 Apr 2023
Next filing
10 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding WRAP Common Stock 4,985,151 05 Jul 2023 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WRAP Series A Convertible Preferred Stock Purchase +1,250 1,250 05 Jul 2023 Common Stock 862,069 $1.45 Direct F1, F2, F3, F4
transaction WRAP Warrants Purchase +862,069 862,069 05 Jul 2023 Common Stock 862,069 $1.45 Direct F4, F5, F6
transaction WRAP Series A Convertible Preferred Stock Purchase +1,750 1,750 05 Jul 2023 Common Stock 1,206,897 $1.45 By V4 Global LLC F1, F2, F3, F4
transaction WRAP Warrants Purchase +1,206,897 +68966% 1,208,647 05 Jul 2023 Common Stock 1,206,897 $1.45 By V4 Global LLC F4, F5, F6
holding WRAP Stock Options 100,000 05 Jul 2023 Common Stock 100,000 $5.56 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Series A Convertible Preferred Stock ("Preferred Shares") conversion price is subject to adjustment in the event of any issuances of shares of the Issuer's common stock ("Common Stock"), or securities convertible, exercisable or exchangeable for Common Stock, at a price below $1.45.
F2 The Reporting Person's ability to convert the Preferred Shares is conditioned on stockholder approval in compliance with the rules and regulations of The Nasdaq Capital Market.
F3 Shares of Series A Convertible Preferred Stock do not expire.
F4 The Preferred Shares and Warrants reported herein were acquired pursuant to a Securities Purchase Agreement by and between the Reporting Person and the Issuer, which transaction was approved by the Board of Directors of the Issuer, whereby the Reporting Person acquired each Preferred Share and associated Warrant at a purchase price of $1,000 per Preferred Share.
F5 The conversion price of the Warrants is subject to adjustment in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below $1.45.
F6 The Warrants will become exercisable on January 3, 2024, subject to stockholder approval in compliance with the rules and regulations of the Nasdaq Capital Market.
F7 Stock option was issued on April 1, 2021, reported on a Form 4 filed on April 5, 2021, and is fully vested.