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 plans to go public via a stock offering program for smaller companies, experiencing an exceptionally strong initial opening.
- The decision to go public was made to keep company interests "close to home" following the death of founder Jim Richmond in 2021.
- Primary goals for the funding include increasing production capacity at its Yakima factory and investing in new aircraft development.
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