- Aircraft design and manufacturer CubCrafters builds modern backcountry aircraft, carrying on the legacy of historic Cub-style Aircraft, offering FAA-certified, light sport, and Experimental category airplanes. Aside from new aircraft produced on the production line, the company also offers aircraft produced under the company’s builder-assist program, and kits for those prepared to build on their own
- CubCrafters applied for Reg A+ status in July in an effort to raise public investment toward accelerating the company’s growth and production schedule output
- The company’s CEO and president announced recently that the SEC has qualified CubCrafters’ application, opening the way for interested investors to now come onboard
- One of the aircraft’s primary uses has been for backcountry exploration and recreation, but the American-made company was also lauded recently for helping a missionary in remote Mexico fly rural patients to the city for needed medical care
Best-in-class backcountry aircraft producer CubCrafters unveiled its plans to offer shares to the public with its announcement in July that the company was accepting reservations for preferred stock under a Reg A+ filing.
CubCrafters President and CEO Patrick Horgan recently provided an update on the filing, announcing in a Bell2Bell podcast that the U.S. Securities and Exchange Commission (“SEC”) has qualified the Reg A+ filing, clearing the way for investors to come onboard.
“The reaction (to the July announcement) was phenomenal, actually 2,000-plus investors very quickly supported this. We had over $25 million in reservations before the SEC had qualified us. So in a very short time it was clear to us that we had a good response,” Horgan told Bell2Bell host Stuart Smith (https://ibn.fm/ORMIR). “These people that have reserved and others that have shown great interest in recent weeks can now convert those into purchases, and that’s going well.”
Horgan said the company has booked orders already awaiting fulfillment for the next two years of CubCrafters’ production schedule, and a large part of the reason for turning to public funding is to help the company grow sufficiently that it can reduce customers’ wait times, and provide better support for the growing fleet of aircraft worldwide.
The investors represent a large cross-section of aviation enthusiasts. Many are experienced fliers, but even those who are simply familiar with flying the company’s aircraft in flight simulators can now invest and be a part of the company’s future, Horgan said.
“We’re the preeminent builder of adventure airplanes. We build advanced versions of the Super Cub using current-day technology. It’s a utilitarian-type airplane that can access backcountry areas without the need for runways,” he said. “(It’s) high performance with the latest technology and engines and avionics. It’s an airplane that can be used commercially as well as just for a lot of fun. It’s a fun-flying airplane that really just brings a unique perspective to using aviation to access our world.”
Horgan added that CubCrafters is the only aviation company he knows of building in four distinct classes of aircraft manufacturing — FAA-certified aircraft, light sport airplanes built to American Society for Testing and Materials (“ASTM”) standards, Experimental aircraft for hands-on builders taking advantage of the company’s builder assistance program, and kits for those prepared to build on their own.
The variety allows clients the freedom to pursue their own vision of fulfillment in aviation.
“We’re true to our American heritage and we have now 11 buildings, 14 facilities and over 200 employees in Yakima, Wash.,” Horgan said. “we’ve been a continually growing company since our inception… a beautifully American business story, starting humbly in a small way and continually growing.”
The airplanes’ utility also has won the company accolades for humanitarian efforts in Mexico. A missionary flying “a slightly modified CubCrafters Carbon Cub EX” has used his aircraft to transport rural, remote patients to medical care in city centers.
The pilot has transported 477 people and 13,069 pounds of cargo to and from the rural villages and hospitals during the past three years alone, providing life-critical service, according to an article by the Aircraft Owners and Pilots Association (“AOPA”) (https://ibn.fm/kLT8R).
For more information, visit the company’s website at www.CubCrafters.com.
NOTE TO INVESTORS: The latest news and updates relating to CubCrafters Inc. are available in the company’s newsroom at https://ibn.fm/CUB
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