TLDR
- Shares of Catheter Precision ($VTAK) climbed approximately 60% Tuesday following news of a merger deal with Fly Flyte
- The company is purchasing the remaining 80.02% ownership stake in Fly Flyte that it didn’t previously control from Creatd ($CRTD)
- This transaction is included in a comprehensive package of agreements valued at $11.55 million, encompassing both Flyte and Ponderosa assets
- Catheter Precision is also purchasing 100% ownership of Ponderosa from Creatd as part of the transaction
- The company initiated a private placement offering of convertible preferred stock to finance operations, securing $1.85 million initially 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’s purchasing the remaining 80.02% ownership interest in Fly Flyte, positioning itself as the complete owner of the aviation enterprise.
Catheter Precision, Inc., VTAK
This transaction represents part of a comprehensive agreement structure. VTAK is simultaneously purchasing complete ownership of Ponderosa from Creatd. The total acquisition cost for both Flyte and Ponderosa reaches $11.55 million, structured as a combination of cash payments, a 0% interest note, and Series D preferred stock.
Before finalizing this transaction, VTAK maintained a minority ownership position in Fly Flyte. Following completion, the company indicates that all operational activities, assets, and financial statements from Fly Flyte will be completely integrated into VTAK’s consolidated reporting.
Chairman and CEO David Jenkins described the move as “a defining inflection point for VTAK.” He explained the company has transitioned from being a minority stakeholder to becoming the complete owner of an aviation enterprise with tangible assets, certified operational infrastructure, and active revenue streams.
Jenkins further stated that leadership views complete ownership of Flyte as something that “materially enhances VTAK’s long-term valuation profile” through consolidated revenue integration and tangible asset support.
Strategic Benefits VTAK Anticipates from the Transaction
The company detailed multiple anticipated advantages from this acquisition. These encompass finalizing what it characterized as a “transformative business combination,” entering the asset-backed transportation infrastructure sector, and consolidating capital allocation, corporate governance, and expansion plans within a unified organizational framework.
VTAK also indicated the transaction sets up future fleet growth opportunities and generates what it characterized as potential operating leverage advantages moving forward.
These strategic moves are designed to reorganize legacy business operations, streamline the balance sheet structure, and broaden the company’s operational capabilities.
Financing Structure for the Acquisition
To finance this acquisition along with other strategic priorities, Catheter Precision initiated a multi-stage private placement offering of convertible preferred stock. The initial closing secured $1.85 million, with subsequent tranches structured under specific conditions, potentially raising up to $35.56 million overall.
Dawson James Securities serves as the placement agent, earning fees on amounts exceeding the $3.85 million threshold. VTAK additionally provided resale registration rights to both participating investors and Creatd within the transaction framework.
Regarding market activity, the investor response was remarkable. Trading volume exceeded 25.7 million VTAK shares on Tuesday. By comparison, the company’s three-month average daily volume sits around 309,000 shares — representing approximately 83 times typical activity levels.
Prior to Tuesday’s surge, VTAK had declined 25.14% year-to-date and experienced an 81.1% decline over the trailing twelve months. The stock also decreased 2.84% during the session immediately preceding the announcement.
During Tuesday’s pre-market session, VTAK had already climbed 59.85% before regular trading commenced, indicating investors reacted swiftly following Monday evening’s disclosure.
The Flyte and Ponderosa acquisition agreement was disclosed on March 9, 2026.
