(Former
name or address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
☐
Written communications pursuant to
Rule 425 under the Securities Act (17 CFR
230.425)
☐
Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
☐
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the
Act:
Title of each
class
Trading
Symbol(s)
Name of each
exchange on which registered
Common
Stock, par value $0.0001 per share
WRTC
Nasdaq
Capital Market
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR 240.12b-2) ☒
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act ☐
Item 1.01 Entry into a Material Definitive Agreement.
On June 4, 2019, Wrap Technologies, Inc. (the
“Company”) entered into a Lease Agreement
(the “Lease”) with JM Sky Harbor Properties LLC (the
“Landlord”), pursuant to which the Company agreed to
lease approximately 11,250 square feet of general office,
warehouse, assembly and training and distribution space in Tempe,
Arizona. The term of the Lease is three years and two months, and,
unless otherwise modified, the Lease will end on July 31, 2022. The
Lease also provides the Company with the option to extend the term
of the Lease for an additional three years on the same terms and
conditions as set forth in the Lease. Commencing in month three,
the Company's monthly base rent obligation will be approximately
$7,650, which amount will increase in the 13th,
25th
and 37th
months in accordance with the terms of
the Lease. In addition, the Company will pay its proportionate
share of the area operating expenses. The Lease contains customary
provisions for real property leases of this type, including
provisions allowing the Landlord to terminate the Lease upon a
default by the Company.
The
foregoing description of the Lease does not purport to be complete
and is qualified in its entirety by reference to the full text of
Lease filed as Exhibit 10.1 to this Current Report on Form
8-K.
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
