Key Highlights
- Shares of Catheter Precision ($VTAK) climbed approximately 60% Tuesday following the announcement of a merger agreement with Fly Flyte
- VTAK plans to purchase the remaining 80.02% equity stake in Fly Flyte from Creatd ($CRTD), bringing total ownership to 100%
- The transaction forms part of a comprehensive agreement package valued at $11.55 million, encompassing both Flyte and Ponderosa
- Catheter Precision will gain complete ownership of Ponderosa through this deal with Creatd
- The company initiated a private placement offering of convertible preferred stock to support operations, securing $1.85 million initially with potential to reach $35.56 million
Shares of Catheter Precision (VTAK) experienced significant movement Tuesday. The stock climbed nearly 60% following the company’s announcement regarding its acquisition of the remaining 80.02% equity stake in Fly Flyte, establishing complete ownership of the aviation enterprise.
Catheter Precision, Inc., VTAK
This transaction represents one component of a comprehensive agreement package. VTAK plans to acquire complete ownership of Ponderosa from Creatd. The total consideration for both Flyte and Ponderosa reaches $11.55 million, structured through a combination of cash, a 0% note, and Series D preferred stock.
Before this transaction, VTAK maintained a minority ownership position in Fly Flyte. The company announced that all operations, assets, and financial statements from Fly Flyte will undergo full consolidation into VTAK’s financial records.
CEO and Chairman David Jenkins characterized the move as “a defining inflection point for VTAK.” He stated the company has transitioned from minority investor to complete owner of an aviation business featuring physical assets, certified infrastructure, and active revenue streams.
Jenkins emphasized that management views full ownership of Flyte as something that “materially enhances VTAK’s long-term valuation profile” through consolidated revenues and tangible asset backing.
Strategic Advantages of the Acquisition
The company detailed multiple anticipated benefits from this acquisition. These encompass completing what management termed a “transformative business combination,” advancing into asset-backed transportation infrastructure, and unifying capital, governance, and growth initiatives within a consolidated structure.
VTAK stated the transaction creates opportunities for fleet expansion initiatives and establishes what management described as operating leverage potential for future growth.
The strategic moves aim to reorganize legacy business units, streamline the balance sheet, and broaden the company’s operational platform.
Financing Structure for the Transaction
To finance the acquisition along with other strategic priorities, Catheter Precision introduced a multi-tranche private placement offering of convertible preferred stock. The company completed an initial tranche totaling $1.85 million and established conditions for subsequent tranches, with potential total proceeds reaching $35.56 million.
Dawson James Securities received appointment as placement agent, with compensation structures activating above a $3.85 million threshold. VTAK provided resale registration rights to both investors and Creatd within the agreement framework.
Regarding market activity, the response proved substantial. Trading volume exceeded 25.7 million VTAK shares on Tuesday. This figure contrasts sharply with the company’s three-month average daily volume of approximately 309,000 shares — representing roughly 83 times typical activity.
Prior to Tuesday’s rally, VTAK had declined 25.14% year-to-date and experienced an 81.1% decrease over the preceding 12 months. The stock also retreated 2.84% during the session before the announcement.
During pre-market trading Tuesday, VTAK had already advanced 59.85% before regular market hours commenced, indicating the news generated immediate investor interest following Monday evening’s disclosure.
The acquisition agreement for Flyte and Ponderosa received public announcement on March 9, 2026.
