CubCrafters, the leading designer and manufacturer of Light-Sport, Experimental, and Part 23 Certified backcountry aircraft, announces today it has been qualified by the Securities Exchange Commission [SEC] to make a $50 million public stock offering using the Regulation A+ exemption, which allows for the first outside investment ever in the history of this iconic company.
Advised by Manhattan Street Capital, CubCrafters intends to raise up to $50 million in investment capital from its fans, customers, aviation enthusiasts, the investment community, and the general public. The offering price for first round investors is $5 per share, with a minimum investment of only $400 per investor. Those interested in this unique opportunity can learn more about the company and participate in the investment at: www.manhattanstreetcapital.com/cubcrafters
“We are humbled and excited by the overwhelming interest and investor demand our capital raise received. In just 90 days, we received reservations for more than $25 million of CubCrafters’ shares,” said Patrick Horgan, CubCrafters’ president & CEO. “This was a great first step in securing the vision of our founder, Jim Richmond, who wanted to give the public an opportunity to participate in the growth of our company. Now that we have been qualified by the SEC, we look forward to welcoming new investors to CubCrafters and working on their behalf to drive long-term shareholder value.”
The high demand for CubCrafters aircraft has resulted in a more than 2-year backlog of orders. The proceeds of the offering will be used to increase manufacturing capacity and reduce new aircraft customer delivery times. The company will also make investments in growing its customer support capabilities and accelerating product innovation. All of which will enable the company to expand its reach in the rapidly growing domestic and international markets for both adventure and utility aircraft.
While many US-based general aviation aircraft manufacturers have been sold to foreign entities, CubCrafters intends to remain American owned and operated. The entire line of CubCrafters aircraft is designed and produced in the company’s facilities in Yakima, WA. To keep it that way, CubCrafters is leveraging this Regulation A+ offering to fund growth while keeping the company US-based.
“We have invested large amounts of time, energy, and resources to qualify a Reg A+ offering with the SEC,” stated Brad Damm, CubCrafters’ vice president. “Our Brand has grown to be synonymous with an adventure lifestyle that inspires and appeals to people at all levels. We consistently hear from people across many different demographics that want to be a part of what we do, that want to join us on our journey. This offering affords that opportunity to everyone, both from within the aviation community and from the public at large.”
“The already significant response from investors and their large and loyal customer base is a strong testimonial to CubCrafters’ role as an industry leader and to the quality of its product line,” added Rod Turner, CEO and founder of Manhattan Street Capital. (*) “I am truly excited to be a part of this capital raise designed to scale up CubCrafters’ future success.”
About Cubcrafters
Founded in 1980 by Jim Richmond, CubCrafters’ roots are in the 80+ year history of classic grassroots aviation, but the company’s products and services are innovative and completely modern. CubCrafters designs and manufactures Experimental, LSA, and Part 23 Certified aircraft. The Carbon Cub family of aircraft redefined expectations for the backcountry flying experience with innovative design, modern materials, powerful engines, and breathtaking performance. The company’s flagship XCub aircraft is offered in both nosewheel and tailwheel configurations, and substantially expands the mission profile of sport utility aircraft with higher speed, longer range, and larger payload. The key to our success is our ability to create unique value in the experience of personal adventure aviation. CubCrafters has been a privately held company for the first 40 years of its existence, but is now planning to welcome new public investment. Source: ‚Cub Crafters Website‚.