Creatd Inc. has completed the sale of its remaining 80% equity stake in subsidiary Fly Flyte Inc. to Catheter Precision Inc., a company listed on the NYSE American exchange under the ticker VTAK. The transaction provides Creatd with approximately $6 million in cash and nearly $6 million in Convertible Preferred Stock of VTAK, significantly strengthening the company's financial position as it pursues its own national exchange listing strategy.
The sale aligns with Creatd's business model of developing turnkey operating solutions that prepare companies for public market listings while maintaining minority interests. This transaction positions Creatd as a significant shareholder in VTAK, adding to its growing portfolio of public and private investments across diversified industries. The company utilizes technology and AI-first operational infrastructure to help businesses overcome structural hurdles and mature into institutionally viable enterprises.
Creatd acquired Flyte approximately one year ago after initiating due diligence in the fourth quarter of 2024. The company implemented a disciplined turnaround strategy focused on operational optimization, technology integration, and targeted revenue growth, positioning Flyte for acquisition by a nationally-listed platform. While Creatd initially acquired its position in Flyte using a combination of financing and its then OTC Pink Sheet common stock, the exit consideration consists of cash and preferred equity in a New York Stock Exchange-listed company.
"Creatd will continue to pursue its own national exchange listing strategy this year," said Jeremy Frommer, Chairman and CEO of Creatd Inc. "The plan is to do so without relying on the traditional financing structures that often accompany those transactions. Typically those structures consume companies that have not first generated their own balance sheet value." Frommer noted that the company's recent reverse split, completed without accompanying financing, was an important step toward meeting national exchange listing requirements, and this asset sale provides the capital needed to complete the next phase.
Creatd represents one of the few turnaround-focused publicly traded platforms in the small-cap and micro-cap merger and acquisition space. The company aims to institutionalize this model as it expands its platform. "We also see a significant opportunity to address the structural gap created by the contraction of the middle market over the past two decades," Frommer continued. "Too many public companies today lack the infrastructure and support needed to reach their full potential. We are building a platform that helps companies stabilize, scale, and ultimately reach national exchange listings while creating lasting value."
Creatd and VTAK will continue to collaborate through their strategic relationship, including ongoing efforts in aviation and electric vertical takeoff and landing logistics platform development. The company expressed gratitude for shareholder support throughout its multi-year transition and remains focused on executing its strategic plan. For more information about Creatd, visit https://www.creatd.com, and for details about Flyte, visit https://www.flyte.travel.
