CubCrafters officials are reporting that the company’s Regulation A+ public offering will close Dec. 31, 2023.
In July of 2022, after 42 years of private ownership, CubCrafters launched its public offering, initially selling common stock in the company at a price of $5 per share.
In May, the share price rose to $5.45.
Company officials noted several key milestones in 2023, including:
- The introduction of the Carbon Cub UL model powered by the multi-fuel Rotax 916iS engine, “which will enable CubCrafters to penetrate international markets with the potential to significantly increase sales,” company officials said, noting CubCrafters will be finalizing the design of the aircraft in 2024 and begin production in 2025.
- Full-scale flight testing of its Electric Lift Augmenting Slats (ELAS) system, patented technology that was awarded two grants from NASA, and which has demonstrated significant reductions in aircraft takeoff distances and stall speeds.
- Advancements in robotic manufacturing technology that has helped streamline production and increase manufacturing capacity. Company officials say they expect these new machines to come fully online in 2024, reducing the time and cost of manufacturing aircraft and aircraft parts.
- The recent integration of new infrared (IR) camera technology across all of its aircraft models that can enhance pilot situational awareness in backcountry flight operations. “Initially developed for the government, consumer sales of this new innovation have already been very strong and are expected to continue to grow,” company officials said.