The Wyoming Reserve Closes Initial Offering After Raising Roughly $26M
The Wyoming Reserve Opportunity Zone Fund Corporation announced the closing of its initial common stock offering, having raised approximately $26 million from accredited investors under Regulation D, Rules 506(b) and 506(c) of the Securities Act of 1933.
The company provides tax-advantaged access to the precious metals sector through a unique combination of qualified opportunity zone, or QOZ, and qualified small business stock, or QSBS, structures. According to the company, the offering attracted strong investor interest due to its “dual tax benefits, experienced leadership and strategic partnership with Scottsdale Mint,” a leading global precious metals manufacturer.
“We’re proud to have completed our initial raise and are deeply grateful to our investors for their trust,” said Josh Phair, chief executive officer of The Wyoming Reserve. “This successful close allows us to accelerate the operations of our high-security vault facility and expand our services to institutional, governmental, and commercial customers across the precious metals landscape.”
Located in a 70,000-square-foot facility in a designated opportunity zone in Casper, The Wyoming Reserve focuses on the third-party vaulting, transportation, sale, and fulfillment of precious metals. Its operations are designed to serve both individual investors and industrial clients, with plans to expand vaulting capabilities to include other high-value physical and digital assets.
The Wyoming Reserve’s dual tax-advantaged structure allows eligible investors to potentially defer and eliminate certain capital gains taxes under QOZ rules and further benefit from IRC Section 1202 provisions for QSBS, which may allow exclusion of up to 100% of gains if held for five years.
“Uncertainty continues to drive demand for gold and silver – as does the desire to vault it stateside – and Wyoming Reserve investors are uniquely positioned to benefit from powerful tax incentives as well as from the income that can be produced from the array of precious metal services our world-class vault provides,” Phair added.
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