VTAK Announces Definitive Merger Agreement to Acquire 100% of Fly Flyte Inc.
Transaction Delivers Wholly Owned, Scalable Asset-Backed, Aviation Platform with Accelerating Revenue and Consolidated Control
Positions VTAK at the Center of High-Growth Regional Air Mobility Ahead of Industry-Wide eVTOL Commercialization
FORT MILL, S.C., March 10, 2026 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (NYSE:VTAK) today announced that it has completed the acquisition of the remaining 80.02% equity interest in Fly Flyte, Inc. ("Flyte") from Creatd, Inc. (OTCQB:CRTDD), resulting in 100% ownership of the AI-enabled regional aviation operator.
The transaction converts Flyte from a minority strategic investment into a wholly owned operating subsidiary, establishing VTAK as the owner of a revenue-generating, asset-backed aviation platform with certified aircraft, tangible infrastructure, and scalable fleet economics.
Full Ownership, Consolidated Revenue, Immediate Cash Flow
Flyte operates under FAA 14 CFR Part 135 certification, deploying Cirrus Vision Jets across high-frequency, short-haul regional routes where commercial airline capacity remains constrained or does not exist. The business currently generates revenue through the operation of aircraft equipped with advanced integrated safety systems, including whole-aircraft parachute technology and Safe Return™ autonomous landing capability.
With full ownership now complete, all Flyte operations, assets, and economics are fully consolidated within VTAK, providing direct exposure to operating performance and long-term equity value creation. Going forward, Flyte's financial results will be consolidated into VTAK's financial statements.
Strategic Impact for VTAK Shareholders
With full ownership of Flyte, VTAK:
• Completes a transformative business combination
• Expands into asset-backed transportation infrastructure
• Aligns capital, governance, and growth strategy under a single structure
• Positions shareholders for long-term equity upside through disciplined fleet expansion
The acquisition reflects VTAK's strategy of selectively deploying capital into operating businesses with tangible assets, scalable infrastructure, and clear paths to durable value creation.
Inflection Point and Valuation Transformation
"This transaction marks a defining inflection point for VTAK," said David Jenkins, CEO and Chairman of VTAK. "We have transformed from a minority investor into the owner of an operating aviation business with tangible assets, certified infrastructure, and immediate revenue. Management believes full ownership of Flyte materially enhances VTAK's long-term valuation profile by contributing consolidated revenues, asset backing, and the potential for substantial operating leverage."
Asset-Backed Growth Platform Built for Disciplined Scale
Unlike pre-commercial or speculative aviation concepts, Flyte operates today with:
• Certified aircraft and trained flight crews
• Established regulatory approvals and operating infrastructure
• Active customer demand across multiple premium, high-volume, regional markets
The Flyte model emphasizes capital efficiency, high aircraft utilization, and measured expansion aligned with demand and infrastructure readiness, supporting sustainable growth and long-term value creation rather than speculative deployment.
Positioned for Regional Air Mobility - Operating Today, Optionality Tomorrow
Flyte operates in many of the same short-haul corridors targeted by future advanced air mobility and electric aircraft developers. By operating today with certified aircraft and established infrastructure, Flyte generates real operating data, route density, and customer engagement, while maintaining flexibility to participate in future industry evolution.
This structure allows VTAK to participate in long-term regional air mobility growth without reliance on extended certification timelines - pairing current revenue generation with future strategic optionality.
Flyte Leadership Perspective
"Being listed on a national stock exchange and becoming a wholly owned subsidiary of VTAK provides Flyte with aligned governance, capital support, and a clear execution framework," said Marc Sellouk, CEO and Founder of Flyte. "Our focus remains disciplined execution - operating safely, scaling responsibly, and building a durable aviation operating platform designed for long-term value creation."
Additional Information
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Please refer to the Company's Current Report on Form 8-K filed March 9, 2026, for additional details regarding the transaction, which is subject to customary closing conditions, including shareholder approval with respect to certain elements of the transaction.
About Flyte
Flyte is a technology-enabled Regional Air Mobility Company operating a growing fleet of Cirrus Vision Jets. Focused on high frequency, short haul markets, Flyte provides a faster, safer, and more efficient alternative to traditional private charter travel.
Flight operations are conducted through Flyte's wholly owned subsidiary, Ponderosa Air, LLC, an FAA certified Part 135 air carrier. With certified aircraft, active revenue generating operations, and scalable fleet expansion underway, Flyte is building disciplined, asset backed aviation infrastructure designed to serve underserved regional markets.
For more information, visit www.flyte.travel
About Catheter Precision
Catheter Precision is an innovative U.S.-based medical device company developing advanced solutions to improve the treatment of cardiac arrhythmias. The company focuses on bringing new technologies to market through collaboration with physicians and continuous product innovation.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "focus," "intend," "plan," "potential," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs, such as "will," "should," "lends," "would," "may," and "could," are generally forward-looking in nature and not historical facts, including, without limitation, our belief that full ownership of Flyte materially enhances VTAK's long-term valuation profile by contributing consolidated revenues, asset backing, and the potential for substantial operating leverage and our focus remaining on disciplined execution - operating safely, scaling responsibly, and building a durable aviation operating platform designed for long-term value creation. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. Unless otherwise required by law, the Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether because of new information, a future event, or otherwise and such statements are made only as of the date hereof. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Form 10-K and Form 10-Q's, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed at www.sec.gov.
CONTACTS:
Investor Relations
973-691-2000
[email protected]
###
