CubCrafters announced it has qualified for a $50 million public stock offering under the Regulation A+ exemption. This is the first outside investment for the backcountry manufacturer. CubCrafters was advised by Manhattan Street Capital, offering $5 per share for first-round investors with a minimum investment of $400 per investor.
“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,” President and CEO Patrick Horgan said. “This was a great first step in securing the vision of our founder, Jim Richmond, who wanted to allow the public 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.”
Big News – CubCrafters Investment Opportunity Coming Soon!
The company has more than two years of backlog orders as a result of an increase in demand for its aircraft. Plans are to use the proceeds to increase manufacturing capacity and reduce aircraft delivery times. CubCrafters will also invest in customer support capabilities and accelerate product innovation. These changes would enable the company to expand its reach in both domestic and international markets for adventure and utility aircraft.
Many other U.S. general aviation manufacturers have been sold to foreign entities. CubCrafters intends to remain American owned and operated. Facilities and production are based in Yakima. CubCrafters applied under Regulation A+ to keep the company U.S. based.
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“We have invested large amounts of time, energy, and resources to qualify a Reg A+ offering with the SEC,” VP Brad Damm said. “Our Brand has grown to be synonymous with an adventure lifestyle that inspires and appeals to people at all levels…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,” Rod Turner, CEO and founder of Manhattan Street Capital, said * “I am truly excited to be a part of this capital raise designed to scale up CubCrafters’ future success.”
The growth of the popular backcountry aircraft manufacturer sparked a high demand for investors once the plans to offer public stock offerings were announced. The SEC has qualified CubCrafter’s interest and with over $25 million reserved shares in the first 90 days, growth is plausible.
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