<SEC-DOCUMENT>0001387131-17-004690.txt : 20171031
<SEC-HEADER>0001387131-17-004690.hdr.sgml : 20171031
<ACCEPTANCE-DATETIME>20170915120306
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001387131-17-004690
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CPI AEROSTRUCTURES INC
		CENTRAL INDEX KEY:			0000889348
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
		IRS NUMBER:				112520310
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		200A EXECUTIVE DR
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
		BUSINESS PHONE:		5165865200

	MAIL ADDRESS:	
		STREET 1:		91 HEARTLAND BLVD
		CITY:			EDGEWOOD
		STATE:			NY
		ZIP:			11717
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Graubard
Miller</B></FONT></P>

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    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Facsimile</FONT></TD>
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    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Direct Dial Number</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(888) 225-3469</TD>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">plucido@graubard.com</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">September 15, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">J. Nolan McWilliams, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Attorney - Advisor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Office of Transportation and Leisure</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Mail Stop 3561</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 60pt; text-align: right">Re:</TD><TD STYLE="width: 20pt"></TD><TD STYLE="text-align: justify">CPI Aerostructures, Inc.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">Registration Statement on Form S-3</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">Filed: August 22, 2017</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify"><U>File
No. 333-220090</U></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Dear
Mr.&nbsp;McWilliams:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">On behalf of CPI Aerostructures, Inc.
(&ldquo;Registrant&rdquo;), we respond as follows to the Staff&rsquo;s comment letter, dated September 14, 2017, relating to the
above-captioned Registration Statement (&ldquo;<U>Registration Statement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">For the Staff&rsquo;s convenience, we
have recited the Staff&rsquo;s comment and provided Registrant&rsquo;s response immediately thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in"><B><I><U>General</U></I></B></P>

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<TD STYLE="width: 15pt; text-align: left"><B><I>1.</I></B></TD><TD STYLE="width: 20pt"></TD><TD STYLE="text-align: left"><B><I>Please advise whether you believe you are eligible to conduct a primary offering
pursuant to General Instruction I.B.1 of Form S-3. If so please provide us with your basis for that conclusion. If you do not
meet that public float requirement and intend to rely instead upon General Instruction I.B.6 of Form S-3, please revise to include
the information required by Instruction 7 on the prospectus cover page.</I></B></TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Registrant is eligible to conduct a primary
offering pursuant to General Instruction I.B.1 of Form S-3. The aggregate market value of Registrant&rsquo;s common equity held
by non-affiliates, computed by use of the price at which Registrant&rsquo;s common equity was last sold as of a date within 60
days prior to the date of filing of the Registration Statement, is $75 million or more.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

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<P>Securities and Exchange Commission <BR>
September 15, 2017 <BR>
Page 2</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Below is the calculation of the aggregate
market value of Registrant&rsquo;s common equity held by non-affiliates on the date of filing of the Registration Statement.</P>

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    <TD STYLE="width: 66%; font-weight: normal; text-align: left; text-indent: 0in; padding-left: 5.4pt">Number of shares of Registrant&rsquo;s common equity outstanding</TD><TD STYLE="width: 2%; font-weight: normal">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: normal; text-align: right">8,846,818</TD><TD STYLE="width: 1%; font-weight: normal; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1pt; text-indent: 0in; padding-left: 5.4pt">Number of shares of Registrant&rsquo;s common equity held by affiliates</TD><TD STYLE="font-weight: normal; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: normal; text-align: right">-985,165</TD><TD STYLE="padding-bottom: 1pt; font-weight: normal; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: 0in; padding-left: 5.4pt">Number of shares of Registrant&rsquo;s common equity held by non-affiliates</TD><TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD><TD STYLE="font-weight: normal; text-align: right">7,861,653</TD><TD STYLE="font-weight: normal; text-align: left">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">The last sale price of Registrant&rsquo;s
common equity in the principal market for the common equity on July 24, 2017 (date within 60 days prior to the date of filing of
the Registration Statement) was $10.00/share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0in">The aggregate market value of Registrant&rsquo;s
common equity held by non-affiliates on the date of filing of the Registration Statement is $78,616,530 (7,861,653 shares of common
equity held by non-affiliates x $10.00/share).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.75in">* * * * * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If you have any questions, please do not hesitate
to contact me at the above e-mail address or telephone or facsimile numbers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in"><U>/s/ Paul Lucido</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">Paul Lucido</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 15pt; text-align: left">cc:</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Douglas McCrosson</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">Vincent Palazzolo</TD></TR>
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