Jet Craft USA Plans Public Stock Offering

Jet Craft USA Inc., a start-up company in Las Vegas that hopes to develop a six-seat business jet, plans to raise about $25 million with an initial public stock offering of 5 million common shares, according to a company filing with the Securities and Exchange Commission.

Jet Craft is headed by John E. Morgan, a former pilot, and Floyd E. Snow, owner of Aircraft Technical Service Inc., a Van Nuys company involved in designing the proposed aircraft, the filing said.

Proceeds from the offering will be used to design, produce, test and market the plane, the filing said.