Key Highlights
- Shares of Catheter Precision ($VTAK) rocketed approximately 60% higher during Tuesday’s session following the announcement of a merger agreement with Fly Flyte
- The company is purchasing the remaining 80.02% equity stake in Fly Flyte that it did not previously own from Creatd ($CRTD)
- This transaction is included in a comprehensive agreement package valued at $11.55 million, encompassing both Flyte and Ponderosa assets
- Ponderosa represents another component of the transaction, with Catheter Precision acquiring complete ownership from Creatd
- A private placement offering of convertible preferred stock was initiated to support operational funding, securing $1.85 million initially with potential to reach $35.56 million
Tuesday marked a significant milestone for Catheter Precision (VTAK). Shares experienced a dramatic surge of nearly 60% following the company’s disclosure that it would purchase the outstanding 80.02% ownership stake in Fly Flyte, granting it complete control of the aviation enterprise.
Catheter Precision, Inc., VTAK
This transaction represents one component of a comprehensive agreement structure. Additionally, VTAK is purchasing complete ownership of Ponderosa from Creatd. The total acquisition cost for both Flyte and Ponderosa amounts to $11.55 million, structured as a combination of cash payments, a zero-interest promissory note, and Series D preferred stock.
Before finalizing this agreement, VTAK maintained a minority ownership position in Fly Flyte. According to company statements, all operational activities, assets, and financial reporting from Fly Flyte will now be completely integrated into VTAK’s consolidated financial statements.
Chairman and CEO David Jenkins characterized the transaction as “a defining inflection point for VTAK.” He explained that the company has transitioned from maintaining a minority investment position to achieving full ownership of an aviation enterprise complete with tangible assets, certified operational infrastructure, and established revenue streams.
Jenkins further emphasized that company leadership expects complete ownership of Flyte to “materially enhances VTAK’s long-term valuation profile” through the addition of consolidated revenue streams and tangible asset support.
Strategic Benefits of the Acquisition
The company detailed multiple anticipated advantages resulting from this acquisition. These encompass finalizing what management termed a “transformative business combination,” diversifying into asset-supported transportation infrastructure, and consolidating capital structure, corporate governance, and expansion strategies within a unified framework.
According to VTAK, this transaction establishes the foundation for future fleet growth and generates what executives characterized as potential operating leverage advantages moving forward.
These strategic moves are designed to reorganize historical business operations, streamline the corporate balance sheet, and broaden the company’s operational capabilities.
Financing Structure for the Transaction
To secure funding for the acquisition and related strategic objectives, Catheter Precision initiated a multi-phase private placement offering of convertible preferred stock. The initial phase closed with $1.85 million in proceeds, and subsequent phases have been structured with conditions, potentially raising aggregate proceeds of up to $35.56 million.
Dawson James Securities was engaged as the placement agent, with compensation structured to accrue beyond a $3.85 million threshold. As part of the comprehensive arrangement, VTAK provided resale registration rights to both participating investors and Creatd.
Regarding market activity, the investor response was unmistakable. Trading volume exceeded 25.7 million VTAK shares on Tuesday. This figure represents a stark contrast to the company’s three-month average daily volume of approximately 309,000 shares — roughly 83 times typical activity levels.
Prior to Tuesday’s rally, VTAK had declined 25.14% year-to-date and experienced an 81.1% decrease over the trailing 12-month period. The stock also retreated 2.84% during the session immediately preceding the announcement.
During pre-market trading on Tuesday, VTAK had already climbed 59.85% before the opening bell, indicating that market participants reacted swiftly to Monday evening’s disclosure.
The acquisition agreement for Flyte and Ponderosa was formally announced on March 9, 2026.
