Investors respond enthusiastically to CubCrafters’ anticipated public offering

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

In the first 48 hours after that announcement, more than 1,000,000 shares were reserved by potential investors excited about 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 just $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 via the dedicated link: https://www.manhattanstreetcapital.com/cubcrafters

CubCrafters specializes in building backcountry adventure aircraft. Their ability to meet pilots’ demand for faster, more powerful, technically capable and durably robust aircraft has fueled the company’s success, making it a leader in the space.

Patrick Horgan, President and CEO of CubCrafters, explained that backcountry aviation is becoming more popular with an increasing number of pilots, and CubCrafters’ unique Builder-Assist program, as well as the he company’s recent introduction of a new nose wheel landing gear configuration on its flagship XCub aircraft has contributed to strong sales. Despite the increase in production, the company currently has an order book of more than two years.

“It’s always great to be here at EAA AirVenture. We couldn’t think of a better place 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 positive,” Horgan said. “This is a first step in our journey to realize the vision of our founder Jim Richmond, who envisioned CubCrafters becoming a publicly traded company.”

“The level of investor enthusiasm has been remarkable. It’s a true testament to the reputation CubCrafters has earned over its 40 years in business,” said Rod Turner, CEO of Manhattan Street Capital.

“Bookings of over 10% of our $50 million goal in just 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 business and want to help it grow,” said Brad Damm, vice president of sales for CubCrafters.

“Backcountry aviation is growing in popularity and the demand for our aircraft continues to grow. We want to build aircraft faster to reduce a customer’s wait time for a new aircraft, we want to improve service and support for our owners, and we want to accelerate our focus on new innovations. Our goal is to exceed our customers’ expectations,” added Damm.

This announcement relates to the planned public offering of securities by CubCrafters, via the Reg A+ SEC exemption. The conversion of reservations into investments depends on the qualification of the offer by the Securities and Exchange Commission.

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

ABOUT CUBCRAFTERS

Founded in 1980 by Jim Richmond, CubCrafters’ roots go back over 80 years of basic classic aviation history, but the company’s products and services are innovative and thoroughly modern. CubCrafters designs and manufactures experimental, LSA and Part 23 certified aircraft. The Carbon Cub family of aircraft has redefined expectations for the backcountry flying experience with innovative design, modern materials, powerful engines and breathtaking performances. The company’s flagship XCub aircraft is offered in both nosewheel and tailwheel configurations, and significantly broadens the mission profile of sport utility aircraft with higher speed, longer range and greater payload. Key to our success is our ability to create unique value in the personal adventure aviation experience.

ABOUT THE PUBLIC OFFER

CubCrafters was privately held for the first 40 years of its existence, but now plans to welcome new public investment. Learn more about: https://cubcrafters.com/investors

JOBS Act Title IV Regulation A allows mature startups and early-stage companies to raise up to $75 million per year from accredited and non-accredited investors worldwide, and provides that their investments will be liquid to the extent that the company raising capital lists its shares on the stock exchange.

  • Anyone can invest, worldwide

  • The company may advertise publicly

  • No state registration is required

  • Requires two years of verified finances

  • Non-accredited investors are limited to 10% of income/net worth per year

Manhattan Street Capital receives fees from CubCrafters and may receive up to $2 million in fees on this offering, so there is a material conflict of interest.

IMPORTANT LEGAL DISCLAIMER

No money or other consideration is solicited and, if sent in response, it 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 offer statement filed by the company with the Securities and Exchange Commission (SEC) has been qualified by the SEC. Such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of acceptance given after the qualification date. An expression of interest does not imply any 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 a possible offering of its securities. The Company is not required to make an offer under Regulation A. It may choose to make an offer to some, but not all, persons who express an interest in investing, and such offer may not be made under of Regulation A. If the company goes 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 contained in this offering statement will be more complete than the information the Company currently provides and may differ materially. You should read the documents filed with the SEC before investing. Offering documents 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, assumptions made by and information currently available to management of the company. When used in the Materials Offering, the words “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect” and similar expressions are intended identify forward-looking statements. These statements reflect management’s current beliefs regarding 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 they are made. The Company undertakes no obligation to reverse or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unforeseen events.

URL FOR DIGITAL MEDIA ITEMS:

https://cubcrafters.com/osh22

  • Digital biographies of business leaders

  • Digital copy of Oshkosh press conference presentation

  • Downloadable videos and photographs

  • Digital copies of CubCrafters corporate logos

  • Written Content Questions and Answers Sheet

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