TLDR
- Shares of Catheter Precision ($VTAK) climbed approximately 60% following Tuesday’s announcement of a merger deal with Fly Flyte
- The company is purchasing the remaining 80.02% stake in Fly Flyte that it didn’t previously control from Creatd ($CRTD)
- This transaction represents a portion of combined agreements valued at $11.55 million, encompassing both Flyte and Ponderosa assets
- Catheter Precision is also purchasing complete ownership of Ponderosa from Creatd as part of the arrangement
- The firm initiated a private placement offering of convertible preferred stock to support operations, securing $1.85 million initially with potential to reach $35.56 million
Tuesday proved to be an extraordinary day for Catheter Precision (VTAK). Shares skyrocketed almost 60% following the company’s revelation that it would acquire the outstanding 80.02% ownership stake in Fly Flyte, positioning itself as the complete owner of the aviation enterprise.
Catheter Precision, Inc., VTAK
This transaction is embedded within a more comprehensive series of agreements. VTAK is simultaneously purchasing complete ownership of Ponderosa from Creatd. The total acquisition cost for both Flyte and Ponderosa reaches $11.55 million, with payment structured through a combination of cash, a 0% interest note, and Series D preferred stock.
Before this transaction, VTAK maintained a minority ownership position in Fly Flyte. With this deal’s completion, the company states that all operations, assets, and financial records from Fly Flyte will be completely integrated into VTAK’s consolidated financial statements.
David Jenkins, serving as CEO and Chairman, characterized the move as “a defining inflection point for VTAK.” He emphasized that the company has transitioned from being a minority stakeholder to becoming the complete owner of an aviation operation with tangible assets, certified infrastructure, and current revenue streams.
Jenkins further noted that management is convinced that complete control of Flyte “materially enhances VTAK’s long-term valuation profile” through the addition of consolidated revenue streams and asset-backed value.
What VTAK Is Getting Out of the Deal
The company highlighted numerous strategic advantages resulting from this acquisition. These encompass finalizing what it termed a “transformative business combination,” diversifying into asset-backed transportation infrastructure, and consolidating capital, governance, and expansion strategies under unified leadership.
VTAK further indicated that this transaction establishes a foundation for future fleet growth and generates what it characterized as potential operating leverage moving forward.
The strategic moves are additionally designed to reorganize legacy operations, streamline the balance sheet, and broaden the company’s operational capabilities.
How the Deal Is Being Funded
To finance the acquisition and additional strategic objectives, Catheter Precision initiated a multi-stage private placement offering of convertible preferred stock. The initial tranche of $1.85 million has been completed, with subsequent tranches contingent on specific conditions, potentially raising a total of $35.56 million.
Dawson James Securities was appointed as the placement agent, with compensation beginning above a $3.85 million threshold. VTAK additionally provided resale registration rights to investors and Creatd as components of the agreement.
From a trading perspective, the market response was dramatic. Trading volume exceeded 25.7 million VTAK shares on Tuesday—a stark contrast to the company’s three-month daily average of approximately 309,000 shares, representing roughly 83 times typical activity.
Prior to Tuesday’s surge, VTAK had declined 25.14% year-to-date and experienced an 81.1% decrease over the preceding 12-month period. The stock also retreated 2.84% during the session immediately before the announcement.
During pre-market trading on Tuesday, VTAK had already advanced 59.85% before regular trading commenced, indicating that market participants reacted swiftly to Monday evening’s disclosure.
The acquisition agreement for Flyte and Ponderosa was publicly disclosed on March 9, 2026.
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