CubCrafters, a light-sport, experimental, and backcountry aircraft company, announced that it has earned a qualification through the Securities and Exchange Commission (“SEC”) to make a $50 million public stock offering. This recent announcement, which takes the company one step closer to becoming a public company, gives outside investors an opportunity to invest in the company for the first time. According to the announcement, the company anticipates raising the funds from “fans, customers, aviation enthusiasts, the investment community, and the general public.” The company said that first-round investors would be able to purchase shares at $5 per share, with a minimum $400 investment per investor. “In just 90 days, we received reservations for more than $25 million of CubCrafters’ shares,” said CubCrafters president and CEO Patrick Horgan in the article. “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.”
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About Cub Crafters Inc.
Founded in 1980 by Jim Richmond, CubCrafters’ roots are in the 80-plus-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 CubCrafters’ success is its ability to create unique value in the experience of personal adventure aviation. For more information about the company, visit www.CubCrafters.com.
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