CubCrafters Goes Public

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CubCrafters, privately owned for 40 years, announced at AirVenture that it was applying for qualification to launch an initial public offering “in the coming weeks.” CubCrafters “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.” 

CubCrafters says that “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.”

The Yakima, Washington-based company has seen great success with its Carbon Cub series of aircraft, including the new NX Cub trigear bushplane. 

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“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. 

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KITPLANES Editor in Chief Marc Cook has been in aviation journalism for more than 30 years. He is a 4000-hour instrument-rated, multi-engine pilot with experience in nearly 150 types. He’s completed two kit aircraft, an Aero Designs Pulsar XP and a Glasair Sportsman 2+2, and currently flies a 2002 GlaStar.

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