The Massachusetts-based company has signed a lease for about 14,000 square feet in Ft Wayne, Indiana
Byrna Technologies Inc ()(), the non-lethal defense technology company, announced Wednesday its plan to expand operations.
The company said it has signed a lease for about 14,000 square feet at a facility in Ft Wayne, Indiana to enlarge its manufacturing and distribution capabilities.
“We are looking forward to expanding our footprint in Ft Wayne and adding to the region’s rich history as a manufacturing center for air guns,” said CEO Bryan Ganz in a statement.
The company’s move to expand comes after it recently posted record revenue in its fiscal second quarter. Byrna HD sales have soared as coronavirus (COVID-19) pandemic fears have triggered personal safety concerns.
READ: Byrna Technologies posts record quarterly revenue of $1.2 million, sees three-month backlog for security devices
The Wakefield, Massachusetts-based company develops the Byrna HD, a handgun-like device that dispenses chemical irritants. The small, lightweight 0.68 caliber device is equipped with a five-round magazine capable of accurately hitting a target at up to 60 feet — without causing serious injury. Its chemical payload is designed to burn an assailant’s eyes and respiratory system.
Byrna also announced that it has granted 425,000 incentive stock options to five recent hires involved in marketing, sales and customer service, four of whom are based in Las Vegas.
The incentive stock options have an exercise price of $1.38 with an expiry date of July 24, 2025, and will vest over a three year period with the first third vesting on the first anniversary date of each employee’s hire, the company said.
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