YAKIMA, WA — July 25, 2022 — CubCrafters, the leading designer and manufacturer of Light-Sport, Experimental, and Part 23 Certified backcountry aircraft, announced today that for the first time in its forty-year history, it intends to allow new public investment in the company under Securities and Exchange Commission (SEC) Regulation A.
Advised by Manhattan Street Capital, CubCrafters intends to file with the SEC for qualification to launch their public offering in the coming weeks. The rapidly growing company intends to raise investment capital by selling preferred stock to its fans, customers, aviation enthusiasts, the investment community, and the general public at a price of $5 per share with a minimum investment of only $400 per investor.
Starting today, interested investors can make a non-binding reservation to buy shares at the Issue Price by using this link:
By investing through the Regulation A process, potential investors get better access to shares than in a traditional IPO. Investors of any wealth level are welcome, and no accreditation is required, which allows the vast majority of investors to reserve shares in the company at the original issue price directly from CubCrafters. Making an advance reservation now, ahead of SEC qualification, locks the purchase of company shares at the original issue price.
For the past forty years, CubCrafters has specialized in building rugged backcountry adventure airplanes. The superior quality, spirit of innovation, and ability to meet pilots’ demand for faster, more powerful, technically capable, and enduringly rugged aircraft have fueled the company’s success, making them a leader in the space.
Backcountry aviation is growing in popularity around the globe. More and more pilots are taking to remote landing strips than ever before, which has resulted in record sales for CubCrafters year after year. With the recent introduction of a new nose wheel landing gear configuration on their flagship XCub aircraft, the company has a diverse product line that appeals to every segment of the adventure aircraft market.
“With the significant increase in backcountry flying, demand for our aircraft continues to grow. We have a two-year plus manufacturing backlog of orders, and there is no end in sight” stated Patrick Horgan, CubCrafters’ President & CEO. “Our founder Jim Richmond initiated the plan to pursue a Public Offering with the intention to take CubCrafters forward to the next level and secure its future for generations of aviators to come. Jim’s vision will allow us to attain the key goal of continuing to innovate, increase market share, and accelerate the company’s growth.”
“Regulation A is uniquely suited to CubCrafters because the company appeals to a large audience of pilots and aviation enthusiasts; it has a large and loyal customer base. Providing fans and customers with easy access to become owners of the company makes great use of the online investing process that can be used in this type of public offering,” said Rod Turner, CEO of Manhattan Street Capital.
Brad Damm, CubCrafters’ Vice President, explained that the company’s independent thinking and continuing focus on innovation is what drives their success with customers seeking an adventure lifestyle. “We are an American-owned company that designs and manufactures its aircraft here in the United States. Our products are hugely popular, and this capital raise will enable us to better exceed our customers’ expectations. Even more performance, exceptional service and support, and quicker to market. That’s what this is all about” stated Damm.
Regulation A reservations are non-binding on investors. Those investors that reserve CubCrafters stock in advance of SEC qualification will have the first opportunity to purchase shares at the Issue Price.
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.
ABOUT THE PUBLIC OFFERING
CubCrafters has been a privately held company for the first 40 years of its existence, but is now planning to welcome new public investment. Learn more at: https://cubcrafters.com/investors
Regulation A of Title IV of the JOBS Act allows mature startups and later-stage companies to use equity crowd investing platforms to raise as much as $75M per year from both accredited and non-accredited investors worldwide, and provides that their investments will be liquid to the extent that the company raising capital lists its stock on an exchange.
- Anyone can invest, worldwide
- The company can publicly advertise
- No state registration required
- Requires two years of Audited Financials
- Non-accredited investors are limited to 10% of income/net worth per year
Manhattan Street Capital is paid fees by CubCrafters and may be paid as much as $2 million in fees on this offering so it has a significant conflict of interest.
IMPORTANT LEGAL DISCLAIMER
No money or other consideration is being solicited, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until an offering statement filed by the company with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification. An indication of interest involves no obligation or commitment of any kind. The company is “testing the waters” under Regulation A under the securities act of 1933. This process allows companies to determine whether there may be interest in an eventual offering of its securities. The company is not under any obligation to make an offering under Regulation A. It may choose to make an offering to some, but not all, of the people who indicate an interest in investing, and that offering might not be made under Regulation A. If the company does go ahead with an offering, it will only be able to make sales after it has filed an offering statement with the securities and exchange commission (SEC) and the SEC has “qualified” the offering statement. The information in that offering statement will be more complete than the information the company is providing now, and could differ in important ways. You must read the documents filed with the SEC before investing. The offering materials may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the company’s management. When used in the offering materials, the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements, which constitute forward looking statements. These statements reflect management’s current views with respect to future events and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.