YAKIMA, Wash., Nov. 15, 2022 (GLOBE NEWSWIRE) — through InvestorWire – CubCrafters, the main designer and producer of Light-Sport, Experimental, and Part 23 Certified backcountry plane, pronounces in the present day it has been certified by the Securities Exchange Commission [SEC] to make a $50 million public inventory providing utilizing the Regulation A+ exemption, which permits for the primary exterior funding ever within the historical past of this iconic firm.
Advised by Manhattan Street Capital, CubCrafters intends to lift as much as $50 million in funding capital from its followers, prospects, aviation fans, the funding group, and most of the people. The providing worth for first spherical traders is $5 per share, with a minimal funding of solely $400 per investor. Those on this distinctive alternative can be taught extra in regards to the firm and take part within the funding 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,” mentioned 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, Wash. 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 founding father of Manhattan Street Capital.* “I’m really excited to be part of this capital elevate designed to scale up CubCrafters’ future success.”
ABOUT CUBCRAFTERS
Founded in 1980 by Jim Richmond, CubCrafters’ roots are within the 80+ yr historical past of basic grassroots aviation, however the firm’s services are revolutionary and fully fashionable. CubCrafters designs and manufactures Experimental, LSA, and Part 23 Certified plane. The Carbon Cub household of plane redefined expectations for the backcountry flying expertise with revolutionary design, fashionable supplies, highly effective engines, and breathtaking efficiency. The firm’s flagship XCub plane is obtainable in each nosewheel and tailwheel configurations, and considerably expands the mission profile of sport utility plane with increased velocity, longer vary, and bigger payload. The key to our success is our capacity to create distinctive worth within the expertise of private journey aviation.
CubCrafters, Inc.
1918 South sixteenth Avenue
Yakima, WA 98903
509.248.9491
www.cubcrafters.com
ABOUT THE PUBLIC OFFERING
CubCrafters has been a privately held firm for the primary 40 years of its existence, however is now planning to welcome new public funding. Learn extra at: https://cubcrafters.com/investors
Regulation A of Title IV of the JOBS Act permits mature startups and later-stage corporations to lift as a lot as $75M per yr from each accredited and non-accredited traders worldwide, and gives that their investments might be liquid to the extent that the corporate elevating capital lists its inventory on an trade.
• Now individuals of any wealth stage can develop into house owners in CubCrafters
• The firm can publicly promote
• No state registration is required
• Requires two years of Audited Financials
• Non-accredited traders are restricted to 10% of revenue/internet value per yr
(*) Manhattan Street Capital is paid charges by CubCrafters and could also be paid as a lot as $2 million in charges on this providing so it has a big battle of curiosity.
IMPORTANT LEGAL DISCLAIMER
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.
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:
https://www.manhattanstreetcapital.com/cubcrafters
YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.
URL FOR DIGITAL MEDIA ASSETS:
https://cubcrafters.com/presskit
Media Contact: Brad Damm
CubCrafters Vice President
[email protected]
p: 509.248.9491
1918 South sixteenth Avenue
Yakima, WA 98903-1212
www.cubcrafters.com
Corporate Communications:
InvestorBrandCommunity (IBN)
Los Angeles, California
www.InvestorBrandCommunity.com
310.299.1717 Office
[email protected]
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- SEC Qualification Press Release Photo (11-15-22)
