{"id":7094,"date":"2022-11-21T08:47:10","date_gmt":"2022-11-21T16:47:10","guid":{"rendered":"https:\/\/cubcrafters.com\/c\/?p=7094"},"modified":"2022-11-21T08:48:31","modified_gmt":"2022-11-21T16:48:31","slug":"press-release-cubcrafters-achieves-securities-and-exchange-commission-qualification","status":"publish","type":"post","link":"https:\/\/cubcrafters.com\/c\/2022\/11\/press-release-cubcrafters-achieves-securities-and-exchange-commission-qualification\/","title":{"rendered":"PRESS RELEASE CubCrafters Achieves Securities And Exchange Commission Qualification"},"content":{"rendered":"\n

Company Moves Forward with Public Offering<\/strong><\/p>\n\n\n\n

\"\"
A Carbon Cub EX-2 personal adventure aircraft explores the backcountry of Washington State. Photo credit: Courtesy of CubCrafters<\/figcaption><\/figure>\n\n\n\n

YAKIMA, Washington (November 15, 2022) — 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.
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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
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\u201cWe 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\u2019 shares,\u201d said Patrick Horgan, CubCrafters\u2019 president & CEO. \u201cThis 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.”
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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\u2019s 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.
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\u201cWe have invested large amounts of time, energy, and resources to qualify a Reg A+ offering with the SEC,” stated Brad Damm, CubCrafters\u2019 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.”
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“The already significant response from investors and their large and loyal customer base is a strong testimonial to CubCrafters\u2019 role as an industry leader and to the quality of its product line,\u201d 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.”<\/p>\n\n\n\n

ABOUT CUBCRAFTERS<\/strong><\/p>\n\n\n\n

Founded in 1980 by Jim Richmond, CubCrafters\u2019 roots are in the 80+ year history of classic grassroots aviation, but the company\u2019s 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\u2019s 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.<\/p>\n\n\n\n

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<\/a><\/p>\n\n\n\n

IMPORTANT LEGAL DISCLAIMER:<\/strong><\/p>\n\n\n\n

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\u2019S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS \u201cESTIMATE,\u201d \u201cPROJECT,\u201d \u201cBELIEVE,\u201d \u201cANTICIPATE,\u201d \u201cINTEND,\u201d \u201cEXPECT\u201d AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT\u2019S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY\u2019S 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.<\/p>\n\n\n\n

AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT FROM:<\/p>\n\n\n\n

https:\/\/www.manhattanstreetcapital.com\/offering-circular\/27530<\/a><\/p>\n\n\n\n

YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.<\/p>\n","protected":false},"excerpt":{"rendered":"

Company Moves Forward with Public Offering YAKIMA, Washington (November 15, 2022) — CubCrafters, the leading designer and manufacturer of Light-Sport, Experimental, and Part 23 Certified backcountry aircraft, announces today it… Read more »<\/a><\/p>\n","protected":false},"author":6,"featured_media":7095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,10,17,3,4],"tags":[],"class_list":["post-7094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-industry","category-investors","category-news","category-update"],"acf":[],"yoast_head":"\nPRESS RELEASE CubCrafters Achieves Securities And Exchange Commission Qualification - CubCrafters<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cubcrafters.com\/c\/2022\/11\/press-release-cubcrafters-achieves-securities-and-exchange-commission-qualification\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PRESS RELEASE CubCrafters Achieves Securities And Exchange Commission Qualification - CubCrafters\" \/>\n<meta property=\"og:description\" content=\"Company Moves Forward with Public Offering YAKIMA, Washington (November 15, 2022) — CubCrafters, the leading designer and manufacturer of Light-Sport, Experimental, and Part 23 Certified backcountry aircraft, announces today it... 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