USDA pilots prepare to test fly a new CubCrafters CC19 XCub / Photo credit: Courtesy of CubCrafters
YAKIMA, Wash., Dec. 06, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – CubCrafters, the leading designer and manufacturer of Light-Sport, Experimental, and Part 23 Certified backcountry aircraft, announced today that the company's flagship certified CC19 XCub aircraft was recently selected by the United States Department of Agriculture (USDA) for a new government aircraft fleet modernization contract.
Since 2003, CubCrafters has supplied aircraft to the US Government that have been used by various agencies to complete missions in some of the most remote and extreme flying environments imaginable. Renowned for their reliability, durability, and the ability to fly where few others can, CubCrafters aircraft have been used by multiple Federal Government agencies, including the US Department of Homeland Security, the US Department of the Interior, the United States Department of Agriculture, United States Air Force Flight Academy, and the United States Air Force Research Laboratory.
The new aircraft manufactured under this most recent contract will be the first certified XCubs in fleet service with the US Government, and will be primarily used for natural resources management. Delivery of the first two aircraft in the multiyear contract to USDA Wildlife Services is scheduled for the late Summer of 2023.
“Our long relationship with the US Government is a strong testament to our ability to design and manufacture exceptionally rugged utility aircraft for backcountry missions,” said Patrick Horgan, CubCrafters’ president & CEO. “This contract is not only important for us as a supplier for the US Government, but also for investors participating in our ongoing public offering. This sale demonstrates that our newest generation of fully certified modern utility aircraft can replace the aging fleet of legacy aircraft now in service. It shows that there is a very bright future for our fleet sales program.”
CubCrafters was recently qualified by the US Securities and Exchange Commission to make a $50 million public stock offering under Regulation A+, which allows investors at all levels to purchase stock in the company for the first time in its 42-year history. Interested investors can go to www.manhattanstreetcapital.com/cubcrafters to learn more about the stock offering.
"CubCrafters aircraft are built tough and durable for use where few other aircraft can go. They are reliable, easy to operate, and require very little maintenance. We appreciate that the Federal Government trusts the lives of its employees with our aircraft, and no one takes that trust more seriously than we do," stated Brad Damm, CubCrafters’ vice president. “We are proud of this win and the continuing relationship that we have with multiple government agencies to provide the most safe, reliable, and mission-capable fixed wing aircraft in the backcountry. We will continue to keep our focus on improving our product quality and performance, along with optimizing service and support for our customers.”
Among civilian agencies, CubCrafters aircraft are typically used for forward deployed patrol, surveillance, search and rescue, natural resource management, and aerial survey missions. They are also used by the US Air Force for glider towing and flight-testing various sensors. For these types of missions, CubCrafters aircraft provide a low-cost and highly effective alternative to helicopters or other more expensive fixed wing aircraft.
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.
CubCrafters, Inc.
1918 South 16th Avenue
Yakima, WA 98903
509.248.9491
www.cubcrafters.com
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.
- People of any wealth level can invest
- 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
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 THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,”
“EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE 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 OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT. YOU MAY OBTAIN A COPY OF THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT FROM:
https://www.manhattanstreetcapital.com/cubcrafters
YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.
URL FOR DIGITAL MEDIA ASSETS:
https://cubcrafters.com/presskit
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