002-6 Wyo. Code R. §§ 6-2 - Crowdfunding - Wyoming Invests Now (WIN)

The following provisions apply to offerings made under intrastate crowdfunding exemption pursuant to W.S.§ 17-4-203.

(a) An issuer claiming the exemption under W.S.§ 17-4-203 shall file a notice with the Secretary of State on the WIN Form and include the information set forth in W.S.§ 17-4-203(a)(v). The WIN Form may be obtained from the Secretary of State's website at http://sos.wyo.gov.

(i) Notice shall be filed at least ten (10) days before an offer is made using this exemption.

(ii) The issuer shall notify the Secretary of State by email or written notice of the date of the first offer made.

(iii) After submission of offering information, any changes in information shall be updated with the Secretary of State on the WIN Form within fifteen (15) days of the change.

(iv) The issuer shall provide a quarterly report as set forth in W.S.§ 17-4-203(b).

(b) Under this exemption, a website operator, also known as a portal, shall file a notice with the Secretary of State on the Portal Form pursuant to W.S.§ 17-4-203(a)(ix)(C). The Portal Form may be obtained from the Secretary of State's website at http://sos.wyo.gov.

(c) Validating Residency.

(i) Issuers shall verify purchaser eligibility by collecting one or more of the following records or documents:

(A) A valid operator's license, chauffeur's license, or official personal identification card issued by this state;

(B) A current Wyoming voter registration;

(C) Any documents verifying residency consistent with W.S.§ 22-1-102(a)(xxx).

(D) Any other record or documents issued by this state that establishes that the purchaser's principal residence is in this state.

(ii) Issuer shall maintain records collected pursuant to (c)(i) above for a period of six years, the first two years must be accessible within twenty-four (24) hours of a request for the records.

(d) This exemption is only available to an active entity incorporated or organized under the laws of this state in good standing.

(i) If the entity status of any entity making an offering under this provision becomes delinquent for any reason with the Secretary of State's Office, the delinquency must be cured in the respective time period prescribed by law or applicable rule before the entity is administratively dissolved; this exemption shall not apply to any entity that is administratively dissolved.

(e) Upon completion of an offering made under this section, the issuer must file a final sales report with the Secretary of State no later than thirty (30) days after the last sale in the offering. The Final Sales Report Form may be obtained from the Secretary of State's website at http://sos.wyo.gov. The report shall contain the following information:

(i) The time period in which the offering was open;

(ii) The number of shares or units sold in the offering;

(iii) The number of investors that purchased shares or units in the offering; and

(iv) The dollar amount sold in the offering.

Notes

002-6 Wyo. Code R. §§ 6-2

Amended, Eff. 10/27/2017.