WRAP Names New President, Launches Federal Public Safety Plans: Exploring Tech Solutions, Funding, and Career Development Opportunities

12 March, 2025 | 3 Min Read

tickers: WRAP

tickers affected by this

ticker	polarity	why?
WRAP	positively	The appointment of Jared Novick as President and Chief Operating Officer, along with his significant personal investment in the company, signals strong leadership and confidence in Wrap Technologies’ future growth. This strategic move, coupled with the company’s focus on consolidating public safety technologies and pursuing federal contracts, is likely to drive investor optimism and positively impact the ticker. Additionally, the relocation to Virginia and plans to establish offices near Washington, D.C., position the company for increased government business, which could further boost the stock price.

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WRAP Appoints Jared Novick as President, Eyes Public Safety Tech Consolidation

NORTON, Va., March 12, 2025 — Wrap Technologies, Inc. (NASDAQ: WRAP) has announced the promotion of Jared Novick to President and Chief Operating Officer. This strategic move is set to launch a new wave of efficiency-driven public safety offerings, supporting law enforcement and federal agencies. The company’s recent relocation of its manufacturing headquarters to Virginia aligns with its plans to establish offices near Washington, D.C., bolstering its pursuit of U.S. Federal government contracts. Jared Novick, with his extensive background in government contracting and successful entrepreneurial ventures, is poised to lead Wrap into a new era of growth. His vision includes providing federal, state, and local governments with tools to streamline operations, reduce costs, and enhance productivity in public safety. “Wrap’s plans include providing agencies with the tools they need to resolve critical situations more effectively,” said Jared Novick. “The public safety space is ripe for identifying areas of potential bloat. Many tech providers are fragmented, driving up implementation costs and decreasing productivity. We believe there’s a major consolidation opportunity for federal, state, and local governments to leverage our emerging services to save money along the way.” Scot Cohen, Chief Executive Officer of Wrap, expressed his confidence in Novick’s leadership, highlighting his contributions to stabilizing operations and implementing cost controls. Novick’s technical and operational expertise in technologies applicable to public safety positions the company for significant growth. In addition to his new role, Novick has demonstrated his confidence in Wrap’s future by purchasing 275,000 shares of common stock through an investment partnership. This investment underscores his alignment with the company’s long-term vision. Wrap Technologies aims to support the U.S. government’s push for cost efficiencies by leveraging public-private partnership frameworks. By integrating established technologies into public safety solutions, Wrap aims to deploy advanced technologies, enhance training, and optimize public safety strategies for federal agencies. WRAP also recognizes the strategic importance of its presence in Washington, D.C. This position will enable the company to connect its international pipeline with a talent network of former government personnel, facilitating global distribution and alignment with U.S. resources and policies. Novick’s extensive career includes roles in U.S. Intelligence Agencies, successful startup ventures, and key contributions to significant defense and cybersecurity projects. His background in ISR, federal contracting, and entrepreneurial ventures makes him uniquely positioned to drive Wrap’s growth. Wrap Technologies, Inc. is a global leader in public safety solutions, offering innovative products such as the BolaWrap®, Wrap Reality™ VR, and Intreinsic body-worn camera and evidence management system. These solutions aim to enhance operational efficiency, reduce risks, and improve outcomes for public safety organizations.