Reservations to Buy Shares at Issue Price Exceed $5,000,000

OSHKOSH, Wis.–(BUSINESS WIRE)–CubCrafters, the leading designer and manufacturer of Light-Sport, Experimental, and Part 23 Certified backcountry aircraft, announced on Monday during a press conference at the Experimental Aviation Association’s annual AirVenture fly in and trade show, that it would invite outside investment for the first time in its 42-year history.


In the first 48 hours since that announcement, over 1,000,000 shares of stock were reserved by potential investors excited for the CubCrafters Regulation A public offering.

Advised by Manhattan Street Capital, the company 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.

Almost immediately after Monday’s announcement, potential investors lined-up to reserve the option to buy shares at the Issue Price. Reservations are non-binding and can be made through the dedicated link: https://www.manhattanstreetcapital.com/cubcrafters

CubCrafters specializes in building best-of-class backcountry adventure airplanes. Their ability to meet pilots’ demand for faster, more powerful, technically capable, and enduringly rugged aircraft have fueled the company’s success, making them a leader in the space.

Patrick Horgan, CubCrafters’ President and CEO explained that backcountry aviation is growing ever more popular with increasing numbers of pilots, and CubCrafters unique Builder-Assist program, along with the company’s recent introduction of a new nosewheel landing gear configuration on their flagship XCub aircraft has contributed to strong sales. Despite increasing production, the company currently has an order backlog exceeding two years.

“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,” stated Horgan. “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.”

“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,” said Rod Turner, CEO of Manhattan Street Capital.

“Reservations for over 10% of our $50M 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,” said Brad Damm, CubCrafters’ Vice President of Sales.

“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,” Damm added.

This announcement is for the planned public offering of securities by CubCrafters, via the Reg A+ SEC exemption. Conversion of reservations into investments is contingent on the Securities and Exchange Commission qualifying the offering.

The reservation period remains open at the $5 per share issue price.

ABOUT CUBCRAFTERS

Founded in 1980 by Jim Richmond, CubCrafters’ roots are in the 80+ 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 our success is our ability to create unique value in the experience of personal adventure aviation.

ABOUT THE PUBLIC OFFERING

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

Regulation A of Title IV of the JOBS Act allows mature startups and later-stage companies to raise as much as $75M per year from both accredited and non-accredited investors worldwide, and provides that their investments will be liquid to the extent that the company raising capital lists its stock on an exchange.

  • Anyone can invest, worldwide
  • The company can publicly advertise
  • No state registration is required
  • Requires two years of Audited Financials
  • Non-accredited investors are limited to 10% of income/net worth per year

Manhattan Street Capital is paid fees by CubCrafters and may be paid as much as $2 million in fees on this offering so it has a significant conflict of interest.

IMPORTANT LEGAL DISCLAIMER

No money or other consideration is being solicited, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until an offering statement filed by the company with the Securities and Exchange Commission (SEC) has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification. An indication of interest involves no obligation or commitment of any kind. The company is “testing the waters” under Regulation A under the Securities Act of 1933. This process allows companies to determine whether there may be interest in an eventual offering of its securities. The company is not under any obligation to make an offering under Regulation A. It may choose to make an offering to some, but not all, of the people who indicate an interest in investing, and that offering might not be made under Regulation A. If the company does go ahead with an offering, it will only be able to make sales after it has filed an offering statement with the SEC and the SEC has “Qualified” the offering statement. The information in that offering statement will be more complete than the information the company is providing now, and could differ in important ways. You must read the documents filed with the SEC before investing. 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 offering materials, the words “estimate,” “project,” “believe,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify 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 on the date of which they are made. The company does not undertake any obligation to reverse or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

URL FOR DIGITAL MEDIA ASSETS:

https://cubcrafters.com/osh22

  • Digital Bios of Company Leadership
  • Digital copy of Oshkosh Press conference presentation
  • Downloadable supporting videos and photography
  • Digital copies CubCrafters corporate logos
  • Written content Q & A sheet

Contacts

Media:

Brad Damm

brad.damm@cubcrafters.com
CubCrafters Vice President

p: 509.248.9491

0 comments