VTAK Definitive Agreement to Acquire 100% of Fly Flyte Inc. Obtains Shareholder Approval
Transaction Delivers Fully Consolidated, Revenue-Generating, Aviation Business with Accelerating Growth
Positions VTAK for Scalable Expansion in Regional Air Mobility Ahead of eVTOL Commercialization
FORT MILL, S.C., April 16, 2026 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (NYSE:VTAK) today announced it received shareholder approval on April 15th of the definitive agreement to acquire Fly Flyte, Inc. ("Flyte") executed on March 9.
The March 9th transaction establishes Flyte as a wholly owned operating subsidiary, delivering immediate consolidation of revenue, assets, and operating performance into VTAK.
Full Ownership, Consolidated Revenue and Immediate Operating Exposure
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. The business is generating revenue today through certified aircraft, trained crews, and established infrastructure.
With full ownership complete:
• 100% of Flyte's revenue and operations are now consolidated into VTAK
• Direct exposure to operating performance and cash flow
• Full control of capital allocation, fleet expansion, and growth strategy
Transformational Milestone for VTAK
"This shareholder-approved transaction is a true inflection point for VTAK," said David Jenkins, CEO and Chairman. "We now have full ownership of a revenue-generating aviation platform with certified operations, immediate scale, and a clear path to accelerated growth."
Management believes the acquisition strengthens VTAK's long-term value profile through:
• Consolidated revenue growth
• Asset-backed balance sheet expansion
• Scalable operating leverage
• Full alignment of capital, governance, and execution
Aviation Business Built for Scale
Flyte operates today with:
• FAA-certified aircraft and trained crews
• Established regulatory approvals and operating infrastructure
• Active demand across premium regional markets
The model emphasizes disciplined, capital-efficient fleet expansion and high utilization, supporting sustainable long-term growth.
Operating today and Positioned for what's next.
Flyte operates in the same short-haul corridors targeted by developers of future advanced air mobility and electric aircraft. By operating today with certified aircraft and infrastructure, Flyte generates real revenue, operating data, and customer demand while maintaining flexibility for future industry evolution.
This structure provides exposure to long-term regional air mobility growth without reliance on extended certification timelines, pairing current revenue with long-term strategic optionality.
Flyte Leadership
"This transaction aligns capital and governance and positions Flyte for its next phase of growth," said Marc Sellouk, CEO and Founder of Flyte. "Approval from our shareholders is a strong signal of confidence in our strategy and reflects a clearly bullish investor base. We are scaling with discipline and building a durable aviation platform designed to create significant long-term value."
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 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]
