At Oshkosh AirVenture, Yakima, Washington-based backcountry aircraft manufacturer CubCrafters announced that it would go public, making a stock offering through a program designed for smaller companies. Plane & Pilot spoke with CubCrafters’ Brad Damm at AirVenture, and he told us that the offering’s early days were the hottest such opening its management company had ever had. Damm said that following the death of founder Jim Richmond in 2021, CubCrafters wanted to keep the company’s interests close to home, and it weighed all of its options before deciding on this route. Among other possible plans for the funding that’s to come, Damm said increasing production capacity for the maxed-out Yakima factory is tops on the list, with new plane development being another priority.
CubCrafters Goes Public
Key Takeaways:
- CubCrafters announced at Oshkosh AirVenture that it would go public via a stock offering designed for smaller companies, which has seen exceptionally strong early demand.
- The decision to go public was made to keep company interests close to home following the death of founder Jim Richmond in 2021.
- Funds raised from the offering will primarily be used to increase the Yakima factory's production capacity and to develop new aircraft.
See a mistake? Contact us.
