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 symbol 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 balance sheet.
The sale aligns with Creatd's strategic approach of developing turnkey operating solutions that prepare businesses for public market listings while maintaining minority interests. This transaction positions Creatd as a substantial shareholder in VTAK, adding to its growing portfolio of public and private investments across diversified industries. The company's operational infrastructure, supported by technology and artificial intelligence, helps businesses overcome structural challenges 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, ultimately positioning Flyte for acquisition by a nationally-listed platform. While the initial acquisition utilized financing and OTC Pink Sheet common stock, the exit consideration consists of cash and preferred equity in a New York Stock Exchange-listed company, representing a premium outcome.
Jeremy Frommer, Chairman and CEO of Creatd Inc., stated that the company will continue pursuing its national exchange listing strategy this year without relying on traditional financing structures that often accompany such transactions. The recent reverse split, completed without accompanying financing, represented an important step toward meeting national exchange listing requirements. The asset sale now provides the capital needed to complete the next phase of this strategy.
Frommer explained that Creatd creates balance sheet value through acquisition and incubation strategies for exchange-listed entities, where operating businesses can develop and position themselves for long-term success. Simultaneously, the company builds value from a portfolio of investments that leverage proprietary technology and processes. Creatd represents one of the few turnaround-focused publicly traded platforms in the small-cap and micro-cap merger and acquisition space, with plans to institutionalize this model as the company expands its platform.
The company identifies significant opportunity in addressing structural gaps created by the contraction of the middle market over the past two decades. Many public companies today lack the infrastructure and support needed to reach their full potential. Creatd is building a platform that helps companies stabilize, scale, and ultimately reach national exchange listings while creating lasting value. The company maintains a strategic relationship with VTAK, including ongoing collaboration in aviation and electric vertical takeoff and landing logistics platform development.
Flyte operates as a technology-enabled regional air mobility company with a growing fleet of Cirrus Vision Jets, focusing on high-frequency, short-haul markets as an alternative to traditional private charter. Flight operations are conducted through Flyte's related entity, Ponderosa Air LLC, an FAA-certified Part 135 air carrier. With certified aircraft, active revenue-generating operations, and scalable fleet expansion underway, Flyte has built disciplined, asset-backed aviation infrastructure designed to serve underserved regional markets. For more information about Flyte, visit https://www.flyte.travel.
This transaction demonstrates Creatd's ability to identify undervalued assets, implement operational improvements, and execute strategic exits that generate substantial returns. The company's approach combines financial engineering with operational expertise, creating value through both immediate financial gains and long-term strategic positioning. For investors and industry observers, this development highlights the potential of specialized investment platforms that focus on turning around and preparing smaller companies for public market success.
