Superb Climb-Rate -- For Airplane and Stock Offering
On 25 July, during a press conference at EAA’s AirVenture 2022, CubCrafters, the Yakima, Washington-based maker of innovative, light sport, experimental, and FAR Part-23 certified backcountry aircraft, announced that it would invite outside investment for the first time in the company’s 42-year history.
In the 48-hours following the announcement, potential investors reserved over one-MILLION shares of CubCrafters stock.
Advised by Manhattan Street Capital, CubCrafters intends to offer preferred stock to its fans, customers, aviation enthusiasts, and the general public for a price of just $5-per share—with a minimum investment of only $400. Reservations are non-binding and can be made through the dedicated link: https://www.manhattanstreetcapital.com/cubcrafters.
CubCrafters specializes in building top-shelf, backcountry adventure airplanes. The company’s ability to anticipate and meet pilots’ demands for faster, more powerful, capable, and enduringly rugged aircraft has fueled continuous growth and distinguished the CubCrafters marque.
In response to the burgeoning popularity of backcountry aviation and the ever-greater number of pilots and adventurers looking to avail themselves of the wilder parts of an increasingly digital world, CubCrafters has stepped up production of its aircraft and even undertaken a unique Builder-Assist program. To accommodate pilots unfamiliar with conventional undercarriages [tail-draggers], the company has introduced a tricycle [nosewheel] iteration of its flagship XCub aircraft. Notwithstanding these and other measures to meet customer demand, CubCrafters' order-backlog remains in excess of two-years.
CubCrafters president and CEO Patrick Horgan remarked: “It’s always great to be here at EAA AirVenture. We couldn’t think of a better venue to launch this effort. Hundreds of thousands of aviation enthusiasts, including many of our friends, fans, and customers are here in Oshkosh this week, and the response has been overwhelmingly supportive. This is a first step in our journey to fulfill the vision of our founder Jim Richmond, who envisioned CubCrafters becoming a publicly-traded company.
Manhattan Street Capital CEO Rod Turner adds: “The level of enthusiasm on the part of investors has been remarkable. It’s a true testament to the reputation CubCrafters has earned over their 40-years in business.”
CubCrafters vice president of sales Brad Damm asserts: “Reservations for over ten-percent of our $50-million goal in only two-days is just amazing. This level of interest from the aviation community and the general public tells us that they see real value in our company and want to help it grow. Backcountry aviation is increasing in popularity and the demand for our aircraft continues to grow. We want to build airplanes faster to reduce the amount of time a customer has to wait to get a new airplane; we want to improve service and support for our owners; and we want to accelerate our focus on new innovation. Our goal is to exceed our customers’ expectations.”
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