Catheter Precision Secures Up to $88 Million to Scale Flyte After Takeover

Overview

• The company announced institutional financing commitments of up to $88 million intended to support Flyte’s fleet expansion, market entry and balance sheet simplification.
• On March 10, Catheter Precision said it completed the purchase of the remaining 80.02% of Fly Flyte and will consolidate Flyte’s operations, assets and results.
• The Flyte and Ponderosa acquisitions were presented as a combined package valued at $11.55 million, paid in cash, a zero‑interest note and Series D preferred stock.
• To fund operations, Catheter Precision previously closed an initial $1.85 million tranche of a planned multi‑tranche convertible‑preferred offering with the option to raise up to $35.56 million.
• Shares of VTAK jumped about 60% on heavy volume following the acquisition announcement, while filings note certain elements remain subject to customary closing conditions including shareholder approvals.