TLDR
- Shares of Catheter Precision ($VTAK) skyrocketed approximately 60% this Tuesday following the announcement of a merger deal with Fly Flyte
- The company is purchasing the outstanding 80.02% ownership stake in Fly Flyte from Creatd ($CRTD) that it didn’t previously hold
- As part of a comprehensive package of transactions valued at $11.55 million, the agreement encompasses both Flyte and Ponderosa businesses
- Ponderosa is also included in the transaction, with Catheter Precision obtaining complete ownership from 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
Tuesday proved to be an extraordinary day for Catheter Precision (VTAK). Shares surged close to 60% following the company’s announcement that it would acquire the outstanding 80.02% ownership stake in Fly Flyte, securing complete control of the aviation enterprise.
Catheter Precision, Inc., VTAK
This transaction represents one component of a comprehensive package of deals. VTAK is simultaneously purchasing complete ownership of Ponderosa from Creatd. The aggregate transaction value for acquiring both Flyte and Ponderosa stands at $11.55 million, structured through a combination of cash payments, a zero-interest note, and Series D preferred shares.
Before this transaction, VTAK maintained a minority ownership position in Fly Flyte. With this acquisition, the company indicates that all operations, assets, and financial results from Fly Flyte will become completely integrated into VTAK’s consolidated financial statements.
Chairman and CEO David Jenkins characterized the deal as “a defining inflection point for VTAK.” He emphasized that the company has transitioned from being a minority shareholder to becoming the complete owner of an aviation enterprise with tangible assets, certified operational infrastructure, and active revenue streams.
Jenkins further noted that leadership is confident full ownership of Flyte “materially enhances VTAK’s long-term valuation profile” through the addition of consolidated revenue streams and tangible asset support.
Strategic Benefits of the Acquisition for VTAK
The company has highlighted numerous strategic advantages expected from this acquisition. These encompass completing what management termed a “transformative business combination,” diversifying into asset-supported transportation infrastructure, and consolidating capital structure, governance, and expansion initiatives under unified management.
VTAK also emphasized that this transaction establishes a foundation for gradual fleet growth and generates what management characterized as significant operating leverage opportunities moving forward.
The strategic rationale also includes restructuring inherited business operations, streamlining the financial position, and broadening the company’s operational capabilities.
Financing Structure for the Transaction
To secure financing for the acquisition and related strategic objectives, Catheter Precision initiated a multi-phase private placement offering of convertible preferred shares. The initial phase closed with $1.85 million raised, and subsequent phases have been structured with specific conditions, potentially generating up to $35.56 million in aggregate proceeds.
Dawson James Securities serves as the placement agent for this offering, earning compensation on amounts exceeding a $3.85 million baseline. VTAK has also provided resale registration rights to participating investors and Creatd under the terms of this financing arrangement.
Market response to the announcement was exceptionally strong. Trading volume reached over 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 — representing roughly 83 times typical activity levels.
Prior to this surge, VTAK shares were trading down 25.14% for the current year and had declined 81.1% over the trailing twelve-month period. The stock also experienced a 2.84% decline during the session immediately preceding the announcement.
During pre-market hours on Tuesday, VTAK shares were already trading 59.85% higher before the opening bell, indicating rapid market reaction to the announcement made Monday evening.
The acquisition agreement for Flyte and Ponderosa was formally announced on March 9, 2026.
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