Wrap Taps Former EXIM Bank Executive Stephen M. Renna to Spearhead International Growth and Financing Strategy

MIAMI, March 25, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today announced the appointment of Stephen M. Renna as a Strategic Advisor to the Company. Mr. Renna brings more than 35 years of executive experience in both public and private sectors and will focus on international expansion, with an emphasis on Made-in-USA exports and financing strategies through U.S. government resources.

A seasoned expert at the intersection of business and government, Mr. Renna served as Chief Banking Officer at the U.S. Export-Import Bank (EXIM), where he led the execution of trade financing solutions in support of U.S. exporters, managing a $50 billion portfolio and a $40 billion pipeline. At Wrap, he is expected to advise on leveraging programs, such as the EXIM Bank and the Department of Defense (“DoD”) Office of Strategic Capital, to expand Wrap’s international go-to-market strategy and enhance its international pipeline for services like the Company’s BolaWrap and Managed Safety and Response (MSR).

“Steve’s appointment underscores our commitment to transforming how U.S. safety technologies are deployed worldwide,” said Jared Novick, President of Wrap. “We believe that his unmatched expertise in federal finance and international deal-making will not only increase our competitiveness globally—but also allow us to create a strategic advantage for U.S.-made public safety solutions.”

“We have had strong international interest, with many potential purchases, in the final stages,” said Scot Cohen, Chief Executive Officer and Executive Chairman of Wrap. “We believe offering financial solutions will help deepen our value proposition in a way that also aligns with U.S. strategic interests.”

Mr. Renna’s career includes leadership roles that positioned American companies to win global contracts against foreign state-backed competitors. As Head of The Advocacy Center at the U.S. Department of Commerce, he helped coordinate government support for U.S. firms bidding on international government contracts—facilitating wins on more than 200 projects totaling over $147 billion in value.

Made in USA Products and Services

The Company believes Mr. Renna’s insights will be instrumental in aligning Wrap’s mission with critical U.S. government initiatives, including the China and Transformational Exports Program (CTEP), which offers competitive financing for key strategic sectors—such as public safety, AI, and communications—to help counter growing Chinese influence in emerging markets.

“We believe Wrap is uniquely positioned to advance American leadership in public safety innovation,” said Mr. Renna. “I am excited to help extend Wrap’s impact by unlocking financing tools that enable U.S. technologies to compete—and win—on the global stage.”

Mr. Renna currently serves as Principal at Federal Agency Finance Advisors, LLC, where he advises companies on accessing financing from federal agencies including EXIM, DOE, and the DoD. He previously led the federal agency practice at Ankura’s Global Strategic Advisory Group and served as Chief Executive Officer of the Commercial Real Estate Finance Council.

He holds a Juris Doctor degree from the Catholic University of America Columbus School of Law and a Bachelor of Arts degree with honors from Fairfield University.

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap’s BolaWrap^® solution is a safer way to gain compliance—without pain.

This innovative, patented device deploys light, sound, and a Kevlar^® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap^® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

Wrap Reality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

Wrap Intrensic is an advanced body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

Trademark Information Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders. Cautionary Note on Forward-Looking Statements – Safe Harbor Statement This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

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