The Wyoming Reserve Opportunity Zone Fund (Wyoming Reserve) has initiated a new common stock offering, aiming to raise $115m by selling up to ten million shares at $11.50 each.
This follows its initial offering, which closed in March 2025, raising around $26m from accredited investors.
The core business of the Wyoming Reserve involves income generation through the trading of precious metals and providing related services.
These include vaulting, transportation and metal availability services for commercial and industrial customers.
The company operates from a 70,000ft² facility in Casper, Wyoming, an area with significant tax advantages for precious metal investments.
The company's location in Wyoming is beneficial, as the state does not levy taxes on silver or gold and is free from corporate state income tax, personal state income tax, inventory tax, franchise tax, or occupation tax.
Wyoming Reserve CEO Josh Phair said: “Inflation, geopolitical tensions and economic uncertainty have prompted many sound money investors to turn to gold and other precious metals to help protect their wealth.
“The Wyoming Reserve seeks to provide investors with an avenue to access alternative asset classes, with the goal of potentially minimising tax liability typically associated with the physical ownership of gold and silver.”
The Wyoming Reserve's strategy focuses on offering investors returns that surpass those of owning physical gold and silver, which have seen a combined compound annual growth rate of 14.2% over the past five years.
Investors in the Wyoming Reserve have the option to participate in a share repurchase programme after one year. The programme allows for the monthly repurchase of up to 1% of their shares, equating to 12% annually.
The 'smart liquidity' feature offers repurchases at the quarterly share repurchase value, potentially qualifying for taxation only on long-term capital gains.
Shareholders also have the option to request the repurchase of some or all their shares on a quarterly basis, subject to holding their investment for at least one year.
However, the ability to have shares repurchased is capped at 5% of the Wyoming Reserve's outstanding shares each quarter and is on a “first-come, first-serve basis”.
Repurchases are subject to the company's contractual obligations, regulatory considerations, terms of preferred stock, and compliance with both Wyoming and federal law.
Investors can potentially enjoy tax-free growth on gains from investments held for a minimum of ten years.
“Our investors avoid the 28% long-term capital gains collectibles tax that comes with physical ownership of precious metals and have an opportunity to enjoy tax-free growth on any appreciation from their investment in the Wyoming Reserve. We believe that the combination of tax advantages, the asset class and our team's breadth of experience presents a compelling opportunity," Phair added.
Furthermore, those with capital gains from assets sold within the past 180 days may defer tax liabilities by investing in a qualified opportunity fund, with the deferral period depending on the timing of the investment.
