TLDR
- Shares of Catheter Precision ($VTAK) skyrocketed approximately 60% on Tuesday following merger announcement with Fly Flyte
- The company is purchasing the remaining 80.02% ownership stake in Fly Flyte that it doesn’t currently control from Creatd ($CRTD)
- This transaction is one component of multiple agreements valued at $11.55 million total, encompassing both Flyte and Ponderosa businesses
- Catheter Precision is also purchasing 100% ownership of Ponderosa from Creatd as part of the agreement
- The company initiated a convertible preferred stock private placement to finance operations, securing initial funding of $1.85 million with potential to raise as much as $35.56 million
Tuesday proved to be an extraordinary day for Catheter Precision (VTAK). Shares rocketed nearly 60% higher following the company’s announcement that it would acquire the outstanding 80.02% equity position in Fly Flyte, positioning itself as the sole owner of the aviation enterprise.
Catheter Precision, Inc., VTAK
This transaction represents one element of a comprehensive package of agreements. Catheter Precision is simultaneously purchasing complete ownership of Ponderosa from Creatd. The total consideration for acquiring both Flyte and Ponderosa amounts to $11.55 million, structured as a combination of cash payments, a zero-interest note, and Series D preferred stock.
Before this transaction, Catheter Precision maintained a minority ownership position in Fly Flyte. Moving forward, the company indicates that all operational activities, assets, and financial statements from Fly Flyte will be completely integrated into VTAK’s consolidated reporting.
CEO and Chairman David Jenkins characterized the deal as “a defining inflection point for VTAK.” He explained that the company has transitioned from being a minority investor to becoming the complete owner of an aviation enterprise with tangible assets, certified infrastructure, and current revenue streams.
Jenkins further stated that management is confident that complete ownership of Flyte “materially enhances VTAK’s long-term valuation profile” through consolidated revenue recognition and tangible asset support.
Strategic Benefits VTAK Expects from the Transaction
The company has identified multiple strategic advantages resulting from this acquisition. These encompass completing what management described as a “transformative business combination,” diversifying into asset-backed transportation infrastructure, and consolidating capital, governance, and expansion initiatives under unified management.
Catheter Precision also indicated that the transaction establishes a foundation for gradual fleet expansion and generates what the company characterized as potential operating leverage moving forward.
The strategic moves are additionally designed to reorganize legacy business operations, streamline the balance sheet structure, and broaden the company’s operational platform.
Financing Structure for the Acquisition
To finance the acquisition and related strategic objectives, Catheter Precision established a multi-tranche private placement offering of convertible preferred stock. The initial tranche of $1.85 million has been completed, with subsequent tranches contingent on specific conditions, providing the possibility to secure up to $35.56 million in aggregate capital.
Dawson James Securities has been engaged as the placement agent, earning fees on amounts exceeding a $3.85 million threshold. Catheter Precision has also provided resale registration rights to both participating investors and Creatd within the framework of this arrangement.
Regarding market activity, the investor response was unmistakable. Trading volume exceeded 25.7 million VTAK shares on Tuesday. This represents a dramatic increase compared to the company’s three-month average daily volume of approximately 309,000 shares — roughly 83 times typical activity.
Prior to Tuesday’s movement, VTAK had declined 25.14% year-to-date and experienced an 81.1% decrease over the trailing 12 months. The stock had 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 the news spread rapidly following Monday evening’s disclosure.
The acquisition agreement for Flyte and Ponderosa was formally announced on March 9, 2026.
